Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Last Thursday Egypt reopened the five ports that had been closed the previous Sunday because of weather conditions. Meanwhile, Egypt has closed several poultry farms due to their failure to provide samples for analysis in the effort to control avian flu. The virus is a serious problem there every year, and the government monitors that type of farm very closely. Iran’s soymeal imports from India could increase from 23,000 MT to 450,000 MT in 2019 as it is using the Indian rupee income from crude oil sales to cover the costs. This seems to be a very good way to use up the rupee supply that results from such sales while also avoiding banking sanctions and payment complications. Indi...
Given yesterday’s headlines, today’s market action may not be what many expected. The dollar is little changed, crude oil is pulling back and stocks are trading higher. Crude may be the biggest piece of today’s reversal. Saudi Arabia is offering additional crude to Asian buyer...
Key Takeaways: Managed money is holding more than one million net-long contracts across agricultural markets, with corn, soybeans, and soymeal all reaching record net-long positions in September. Fundamental concerns surrounding yields, supplies, and global availability have helped justify the...
Under an Executive Order on 4 September, USDA announced $50 million in new funding to help states establish or expand meat and poultry inspection programs as part of an effort to increase processing options for livestock producers. It’s called the Stand-Up Program, which will help states...
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.