Regional Updates It might be a good idea for all people in the grain business, with an eye to COVID-19, to read section 21 of GAFTA contract #27: “Prevention of Shipment”. This section, which is included in most GAFTA contracts, helps to clarify buyer/seller situation in the case of the “prohibition of shipment” or “force majeure”. Details of the contracts can be found on GAFTA’s website: www.gafta.com. MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Iraq’s Trade Ministry is said to be looking for additional funding to help build strategic supplies of wheat and rice in the country. Larger grain supplies are needed due to the increase in demand related to COVID-19. Budgeting by the government ha...
What You Need to Know Today: Agricultural commodities were mostly lower on the day, with red-hot soyoil a notable exception. Export sales were a bit underwhelming, particularly for corn with export sales down 52 percent week-over-week. The weakness in ag markets tracked crude oil weakness wit...
With the war in Iran affecting fuel and fertilizer prices, higher tariffs, weak commodity prices, ag labor constraints, and other factors, farm bankruptcies are now at a 6-year high, a signal of growing stress. During the month of April, 62 Chapter 12 bankruptcies were filed, which is a 1...
Food Inflation The Open Markets Institute, which is notably funded by several “anonymous” donors and liberal foundations, obtained a guest editorial in the New York Times in which they blame agribusiness concentration for higher grocery prices. This is their schtick and it is politi...
From WPI Consulting
Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.