Experts in South Africa are saying that the bumper 2017 grain crops will lead to lower prices for dairy products, meat and other grain-dependent items. Because of two previous issues, though, it will take some time for farmers to rebuild their herds, particularly for dairy, beef and pork. Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Jordan has announced that the government will buy locally-produced wheat and barley from farmers at “preferred” rates, which has been the past practice. The prices for both were raised about 10 percent from the 2016 level with the government expected to purchase about 30,000 MT. Local grain production totals approximately 70,000 MT annually, less than 10 percent of the country’s yearly requirements. Wh...
What You Need to Know Today: China’s state-run COFCO, in statements on Tuesday, implied that U.S. corn exports were currently uneconomical but hinted that the Middle Kingdom would import 3.5 MMT of the feed grain this year, with 1 MMT likely sourced from the U.S. Another drone attack has...
Tanker-tracking data shows a smaller recovery in oil flowing through the Strait of Hormuz than previously thought. Energy Secretary Chris Wright, speaking by video to an international energy conference in Riyadh, Saudi Arabia, said that oil moving through the strait was back to 80 to 90 percent...
Key Takeaways: While soybean, palm, sunflower, and rapeseed oils dominate global vegetable oil markets, premium oils such as olive, avocado, coconut, and sesame command substantially higher prices due to their distinctive flavors, nutritional characteristics, and specialized culinary uses.. Ol...
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.