Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Turkey’s total grain purchases from Russia are reported to have increased from 1.66 MMT in 2016/17 to 3.74 MMT in 2017/18 to date. This includes 2.64 MMT of wheat, 870,000 MT of corn and 190,000 MT of barley. USDA’s GSM-102 program has been revised to allow Turkish banks to transact its business in Israel. They were also previously approved to do the same in Africa and the Caucasus region. Egypt has boosted its Russian grain purchases from 1.2 MMT in 2016/17 to 4.3 MMT thus far in 2017/18, which consist mainly of wheat. The Central Bank of Egypt (CBE) has lowered interest rates with its overnight lending rate dropping to 17.75 percent from 18.75 percent. Following the curr...
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...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
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.