Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Lebanon officials have said that the Beirut port silos will be demolished due to the extensive damage caused by the recent explosion in the port. The silos contained about 45,000 MT of grain at the time of the explosion and none of the grain is salvageable for human food or animal feed use. There are also news reports in Lebanon that flour donated by Egypt and Iraq, since the port explosion, has been poorly stored and may have to be destroyed. The government denies these reports. Crysbro, a Sri Lankan poultry company, has come out strongly in support of the government’s plans to expand local maize production. Sri Lanka produces about 225,000 MT of maize per year, but con...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Dry bulk markets were volatile but ultimately steady this week with notable differences in rate developments across vessel classes. The Capesize sector, which led the recent rally in freight rates with its dramatic surge, pulled back slightly amid more cautious chartering activity, partic...
Key Market Insights Macro markets delivered a full whipsaw today. Early in the session, crude oil had rallied back above $100/barrel as traders priced renewed concern over the U.S.-Iran standoff and potential supply risk through the Strait of Hormuz. That strength helped pull grains off their o...
From WPI Consulting
Communicating importance of value-added products
Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.