The new floating Egyptian pound is likely to slow markets in the near term as traders and end-users adjust... Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Egypt The biggest news in the MENA region this week is the Egyptian government’s action in floating the Egyptian pound (EGP). The EGP/USD seems to have settled between 15.5-16/1 which is an amazing change from the near 9/1 rate last week. The government’s first move put the EGP/USD rate at 13/1 but with the black market rate closer to 18/1 the government’s initial action did not hold and the EGP was allowed to float. One suspects the only people happy with the floating pound will be the IMF, which had been pushing for significant financial change before finalizing the pending U...
Key Takeaways: Dry bulk markets remain mixed with Capesize vessels seeing continued pressure from weaker demand while fixtures and rate strength gradually increases towards the smaller vessel classes. Tanker markets are pulling back from their recent highs as tonnage moves out of the Mid...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
Key Takeaways: Texas illustrates the assumptions underlying the 2025 FMMO reform; Idaho exposes their limitations. The Southwest order blend (roughly 27 percent Class I, 32 percent Class III and 31 percent Class IV) exposes Texas producers to every lever USDA adjusted, with a near-neutral proj...
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.