Egypt’s GASC has made a few important changes to its wheat purchase terms that impact the acceptable levels of ergot as the country also implemented tighter parameters for import payments and letters of credit. Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS There is a great deal of interest in the Middle East/North Africa (MENA) region this week concerning reports that Russia may be lifting or perhaps reducing the export tax on wheat. The tax currently stands at about $4.70/MT, and the government is probably looking very closely at its effect on Russian export competitiveness with wheat exports down about 5 percent so far this crop year.The big surprise this week was the success of Argentine wheat in Egypt’s GASC tender. Its CNF pri...
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
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.