MEDITERRANEAN/MIDDLE EAST COMMENTS As had been expected, Morocco is dropping its soft wheat import duty from 135 percent to 35 percent effective 1 October. Morocco’s harvest dropped 49 percent this year due to poor rainfall. Wheat imports will be used to rebuild the national reserves and to maintain the wheat price in the market. The recent tender the Morocco set for the importation of wheat was cancelled due to no bidders – no bidders probably because the tariff reduction was expected. Good news for regional importers of wheat from the Ukraine as exporters are asking the government for an increase in the somewhat informal wheat export cap. The Ukraine government has suggested 19 MMT in wheat exports, but the exporters a...
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.