Turkey's imports of Russian wheat are no longer considered to be duty-free, according to some sources, which could lead to a 130 percent tariff. Meanwhile, domestic millers and grain traders are said to have met with the Turkish Grain Board (TMO) on Monday to discuss the issue. Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS The situation regarding Turkey’s imports from Russia seems to be quite confusing. According to some sources, Russian wheat is no longer considered a duty-free item into that country, which could result in application of a 130 percent tariff. However, others indicate that Turkey is not issuing import licenses for certain Russian items, including wheat and corn. Domestic millers and grain traders are said to have m...
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.