Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt announced that Suez Canal fees for bulk vessels will be increased by 10 percent on 1 January 2023. Other vessels, except tourist vessels, will be increased by 15 percent. Egypt’s GASC advised wheat suppliers that they must register with the new Egypt commodity exchange to participate in GASC purchases. Registration is to be before 1 November 2022. Egypt agreed to accept a replacement shipment of 60,000 MT of milling wheat covering a cargo that could not be shipped from Ukraine. The new order is at the same price as agreed to in December 2021 – $361.25 MT – and can be Ukraine or Russia origin. The seller is Olam International. Moroc...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
From WPI Consulting
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.