Regional News Romania’s government announced a drought compensation program for farmers that will range from €200-250/ha with the total aid expense projected to reach €600 million. Algeria purchased durum wheat at prices of $328-332/MT FOB with the grain likely sourced from Canada or Turkey, per sources. The purchase volume was not specified but the tender was for 50 KMT. The EU introduced a temporary tariff of 36.4 percent on the import of biodiesel and some processed vegetable oils from China. Ukraine’s Ministry of Agriculture and the country’s grain traders signed the traditional memorandum of understanding (MOU) for wheat exports, which sets the quota for 2024/25 at 15.2 MMT. Yeste...
What You Need to Know Today: Crude oil prices dropped sharply with traffic flowing through the Strait of Hormuz. There were reports that Iran was behind an attack on a cargo ship near the coast of Oman, which would be a violation of the memorandum of understanding between the U.S. and Iran. Pr...
On Wednesday, the White House submitted a national security supplemental spending request for $87.6 billion. The majority of the request includes funding for the conflict in the Middle East, but there are agricultural provisions as well. The supplemental funding package includes more than $11 b...
Can we really expect a bushel of corn to carry an environmental passport throughout the entire food system? One that reliably documents its carbon footprint, biodiversity impacts, water use, soil carbon, and other environmental attributes all the way from the farm field to the consumer? This is...
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.