Mediterranean/Middle East Comments Egypt reports that current wheat reserves will cover its needs for the next four months. Wheat import purchases are forecast at 6.5 MMT by government officials. The Egyptian government has also denied stories that the area planted in wheat will be reduced, suggesting wheat planted area will be the same as last year at roughly 3 million hectares. Ukraine reports that Egypt is the second largest importer of Ukraine wheat for 2017/18, taking 1.96 MMT. Indonesia is the largest importer at 2.29 MMT with Bangladesh third at 1.56 MMT. Iraq may reduce its wheat planting by as much as 50 percent percent due to Turkey’s new dam on the Tigris river. Turkey’s Ilisu dam will begin filling its reservoir i...
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
Infrastructure investment due diligence
On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.