USDA-FAS indicates Turkey’s wheat stocks could drop to less than a two-week supply, the lowest level in more than 50 years. This is not totally attributable to the duty issue with Russia as the stocks were already shrinking because of two other factors. Regional Updates MIDDLE EAST/MIDDLE EAST COMMENTS The flour millers’ association in Turkey is saying that the country’s current situation with Russia regarding grains could cost them as much as $1 billion per year. Turkey is the worlds’ largest wheat flour exporter, and the higher price that its millers must pay for non-Russian milling wheat is expected to increase their flour export prices. In turn, that could cause those sales to decline. The flour millers prefer 12.5 percent protein mi...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
Key Takeaways: Texas illustrates the assumptions underlying the 2025 FMMO reform; Idaho exposes their limitations. The Southwest order blend (roughly 27 percent Class I, 32 percent Class III and 31 percent Class IV) exposes Texas producers to every lever USDA adjusted, with a near-neutral proj...
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.