More details have been released regarding the Egyptian government’s program to become self-sufficient in wheat. The plan is to reclaim 1.5 million feddan (1.44 million acres) and target close to 50 percent for wheat crops. Regional Updates MEDITERRANEAN/MIDDLE EAST COMMENTS Iran reports that it will reduce its wheat reserve stocks from 3 MMT to 2 MMT with the lifting of sanctions. This will save considerable money in storage and financing costs as well as lower the amount of foreign currency needed. The country is expected to continue buying from its normal origins, preferring German, Russian and Kazakh wheat.The latest FAO GIEWS report on Iraq shows an anticipated drop in domestic cereal crops with wheat and barley production down about...
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.