Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Turkey and Russia are reportedly discussing “a new mechanism” that could export Ukraine grain from the Black Sea. This could mean a new agreement to replace the Black Sea Grain Initiative that Russia left in July 2023. Grain is currently being shipped from Ukraine on a Ukraine designed “shore hugging” export route. Egypt’s Suez Canal fees reportedly dropped in January 2024 by 40 percent compared to January 2023. 793 fewer vessels passed through the Canal in January. Suez Canal transit fees are a major and very important source of income and FX for the Egyptian economy. Egypt’s South Cairo and Giza Mills have seen profits...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
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.