Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt is reportedly looking at the possibility of importing wheat from Zimbabwe, Mexico, and Sweden as part of its plans to increase the number of sources for its yearly wheat requirements. According to news reports, Egypt will have 22 certified wheat exporters/suppliers (countries) by 2025/26. Egypt plans to increase wheat planting in 2024/25 by 10 percent. Local wheat storage will also be expanded from the current 3.9 MMT to 5.2 MMT. Egypt’s new Mostaqbal Misr (Future of Egypt) program, along with other current land reclamation programs, is forecast to increase Egypt’s total agricultural area by 40 percent by 2027. Much of the land reclamatio...
Key Takeaways: The situation in the Arab Gulf is little changed this week, which is to say it is a day-by-day – and sometimes hour-by-hour – judgment call as to what is or will happen. There are some vessels transiting the Strait of Hormuz, but transits are a fraction of what they...
Grains posted strong gains today, putting the bulls firmly in the driver’s seat. There was no shortage of fuel for the move, with three W’s driving the rally: weather, war and worry. Weather: Cooler temperatures are temporarily easing stress across the Northern Plains and Midwest, b...
Key Takeaways: Global and U.S. cotton demand has struggled since the post-COVID-19 pandemic surge, which has left cotton prices drifting lower in the U.S. The war in Iran and the closure of the Strait of Hormuz, along with their impact on global energy markets, could boost cotton demand...
From WPI Consulting
Communicating importance of value-added products
Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.