News Updates MEDITERRANEAN AND MIDDLE EAST COMMENTS Turkey looks to be having a very good year for grain crops, as wheat, barley and corn production are all expected to be up over last year and up over the five-year average. Wheat production is expected to be just shy of 22 MMT, which is up about 10 percent; barley at 7.9 MMT is up by 11 percent; and corn at just below 5 MMT is up by close to 8 percent. Wheat imports will still be needed, but the volume is forecasted to drop from 4.5 MMT to about 3.8 MMT. Turkey will continue to be a major exporter of wheat flour and durum wheat, with exports just about equaling wheat imports at just over 3.8 MMT.The wheat crop in Turkey is said to be up due to a change in government policy that has motiv...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
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.