Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Grain importers in the Middle East/North Africa (MENA) region are concerned that Russia’s actions in the Kerch Strait, which connects the Black Sea and the Sea of Azov, could affect shipments from Ukraine. The delay in allowing vessels bound or loaded there through the Kerch is adding to transportation/freight/loading costs and could cause grain shortages for some MENA buyers. The Crimean/Russian authorities in charge of the Kersh-Yenikale Canal say that the delays are related to weather in the form of very high winds. It has been reported in the trade that some international grain companies are rerouting vessel loading from Ukrainian/Azov Sea ports. The latest FAO report on Egypt...
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
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.