Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Bangladesh semi-official reports say that a wheat import agreement for 500,000 MT is about to be signed with Russia, some reports say the agreement is for 350,000 MT. The government-to-government business is to be at $430 MT CIF liner out, with payment in U.S. dollars. Shipment is in parcels before the end of January 2023. The agreement also includes 100,000 MT of potash fertilizer. Bangladesh Bank has set up a loan arrangement that will offer loans to wheat and maize producers at 4 percent interest. The loans are not available to just land-owning farmers but also to those who lease farmland. New loan funds cannot be used to pay off existing loans&nbs...
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.