Mediterranean/Middle East/North Africa/Africa – MEA Region Egypt is reportedly late in payment on a number of Ukraine wheat vessels – six that have been unloaded and two in Egyptian ports. The total value is said to be in excess of $30 million. The shipper says that there has been some problem/complication in discounting 270-day letters of credit. Egypt’s government payment situation is causing some wheat cargoes to be offered for sale in the international markets at discounted prices. Demurrage costs are building quickly on some vessels that have been delayed for discharge by more than one month. Press reports add that some of these cargoes may be purchased by the Egyptian private sector. Egypt’s maize m...
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.