Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Iran’s government increased the purchase price of local wheat, to the equivalent of $430 MT. The government says that more than 7 MMT of local wheat has been purchased from farmers. The Iran Ag Ministry says that purchases of local wheat for next year should increase to 9 MMT due to increased planting. Sri Lanka’s main bakeries have decided not to increase bread prices during the current flour shortage with wheat flour prices jumping by about 50 percent. However, bakeries are reported to be cutting back on production due to high flour prices. The government say that wheat flour shipments are expected shortly from Turkey and Dubai and...
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...
WPI recently completed an expansion of our methodology for estimating and forecasting U.S. and global soybean crushing margins. The new approach incorporates the energy market’s expanding influence on the oilseed sector and the structural changes in global biofuel demand. This report is i...
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.