Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Egypt has announced that Dubai-based AOS has been removed from the list of wheat sellers on government tenders, and its local Egyptian agent has also been removed from the approved supplier list. AOS recently failed to deliver two lots (60,000 MT each) to Egypt’s GASC. It has reportedly been supplying about 20 percent of Egypt’s wheat imports in recent months. Egypt was the largest buyer of Ukrainian grain exports in 2017/18 with purchases valued at $724 million. It was the largest buyer of wheat and the second-largest of corn (China was in the top position). Saudi Arabia was the largest buyer of Ukrainian barley. Egypt was also in discussion with Kazakhstan regarding the t...
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...
Dry bulk markets were volatile but ultimately steady this week with notable differences in rate developments across vessel classes. The Capesize sector, which led the recent rally in freight rates with its dramatic surge, pulled back slightly amid more cautious chartering activity, partic...
Key Market Insights Macro markets delivered a full whipsaw today. Early in the session, crude oil had rallied back above $100/barrel as traders priced renewed concern over the U.S.-Iran standoff and potential supply risk through the Strait of Hormuz. That strength helped pull grains off their o...
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.