Wheat Argentina’s wheat outlook for the 2023/24 season continues to worsen and fall below expectations. The lack of rainfall in the western areas of Buenos Aires province, the northern and western nucleus region, and Cordoba is hindering farmers’ ability to sow fields. Many farms either lack the moisture to sow or have only superficial moisture. Indeed, when one looks at the soil moisture profiles at one or two meters deep, the soils are dry. The costs of planting wheat are too high for farmers. Both the estimated sown area and the total expected production for Argentina’s coming wheat crop have started to decline. As an example, the province of Cordoba will sow its smallest area in the last 10 years (870,000 ha), which...
What You Need to Know Today: U.S. naval escorts through the Strait of Hormuz and renewed Iranian attacks on vessels and UAE infrastructure are sustaining geopolitical risk across energy and commodity markets Broad profit taking and weaker crude oil triggered a pullback across grains, signaling...
Mediterranean/Middle East/North Africa/Africa – MEA Region Egypt and Algeria, in addition to Israel, are being monitored by Ukraine as possible destinations for grain taken by Russia from occupied Ukrainian regions. In April, Egypt had said that it would “stop accepting such shipmen...
What You Need to Know Today: U.S. launches naval escort operations in the Strait of Hormuz as Iran attacks UAE oil infrastructure, escalating geopolitical risk and supporting energy and broader commodity markets Biofuel demand entering uncharted territory, with soyoil valuation increasingly di...
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.