Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Iran officials say 2021/22 wheat imports are expected to reach 8 MMT – three times last year’s level. Iran’s wheat consumption is about 12.5 MMT while local production is only 4.5 MMT. Russia is expected to be the main source for wheat imports with about 4 MMT already imported from Russia. Iran’s wheat imports are reported to be 1.95 MMT since the start of the Iranian year in March 2021 – this was from 122 vessels. Jordanian bakers, at least a few, have started using just local wheat in producing “baladi” bread (baladi is village in Arabic) – this is local flatbread that is normally produced using imported white wheat. Jordan on...
Russian Grain Markets: 29 June-3 July 2026 The new marketing season has officially begun in Russia, although bearish sentiment has been concentrated in the southern regions closest to the Black Sea ports, where export demand has been weakest. Delays in grain deliveries to inland elevators have...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
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.