Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Egypt had rejected a cargo of French wheat due to high ergot levels, but the 63,000 MT were found to be within required standards upon retesting. As a result, the wheat will be discharged and released from Safaga port. The FAO reports that Iraq’s 2019 grain crops should be up nearly 67 percent over 2018 with wheat showing the largest increase from 2.2 MMT to 4 MMT. Total grain production of 5.1 MMT will be about 18 percent above the five-year average of 4.3 MMT. However, the low production in 2018 means that grain imports in early 2019 will be 25 percent higher than the five-year average at approximately 5.2 MMT, including 3.7 MMT of wheat and 1.2 MMT of rice. The first 2019 wheat...
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.