Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA MEA region grain importers will face lower Russian export quotas in 2022 – 8 MMT of wheat and a total of 3 MMT for barley, corn, and rye. The initial quota period is from 15 February to 30 June and is a decrease over the original projected total quota number of 14 MMT, 9 MMT of which was expected to be wheat. The 2021 quota was much higher for the same period at 17.5 MMT. Much lower wheat production and high exports tariffs are the main reason for the lower export quota. Pakistan agriculture experts said the 2022 wheat crop could be smaller than anticipated due to a shortage of urea fertilizer in major growing areas. Urea has been sold to traders at much higher prices th...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
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.