Regional News Russia’s ag ministry says the country exported a record volume of 70 MMT of grain in 2023/24 but that total will fall to 60 MMT for 2024/25 due to smaller production. Last week, Tunisia purchased 125 KMT of soft wheat at prices ranging from $243.99-246/MT C&F and 50 KMT of durum wheat at prices between $322.89-326.29/MT C&F. Milling Wheat Wheat futures were mostly lower last week with bearish sentiments from the broader grain and oilseed complex and the late-week crash in macroeconomic markets weighing on values. Chicago futures hit a four-year low last week while European prices were mostly sideways with a weaker tone as the market awaits the quality results from the French and German...
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.