Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS According to the latest information on its new trade agreement with Russia and Kazakhstan, Iran has agreed to purchase 1 MMT of wheat annually for five years. It will mill the stocks and then re-export the resulting flour to the region. Importing wheat for local use is not allowed in Iran. The wheat shipments may start as soon as April 2018, provided all financing is in place. Russian officials have said that the volume could easily exceed 1.5 MMT per year, depending on Iran’s success with flour export marketing. The Central Bank of Tunisia advises that foreign exchange reserves continue to drop and currently represent only 80 days of imports. The reserves are still suffering from...
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.