Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Morocco has confirmed that it will lift the 135 percent duty on soft wheat imports as of 1 November 2018. The government had also been providing subsidies to those millers using local wheat. Morocco’s total wheat crop has reportedly reached 10.3 MMT (4.9 MMT of soft wheat, 2.4 MMT of durum and 2.9 MMT of hard wheat). Its current wheat reserves are said to total 4.3 months of consumption. Iraq’s ag minister has advised that the planted area for irrigated winter crops will be reduced by 55 percent due to a lack of water. National water reserves are reported to be down 27 percent. Iraq’s total wheat crop is expected to be 20 percent smaller, which should necessitate addit...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
From WPI Consulting
Infrastructure investment due diligence
On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.