Mediterranean/Middle East/North Africa/Africa – MEA Region Egypt is reportedly late in payment on a number of Ukraine wheat vessels – six that have been unloaded and two in Egyptian ports. The total value is said to be in excess of $30 million. The shipper says that there has been some problem/complication in discounting 270-day letters of credit. Egypt’s government payment situation is causing some wheat cargoes to be offered for sale in the international markets at discounted prices. Demurrage costs are building quickly on some vessels that have been delayed for discharge by more than one month. Press reports add that some of these cargoes may be purchased by the Egyptian private sector. Egypt’s maize m...
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...
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.