Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Iran reports that its local grain purchases now exceed 9.5 MMT, a new record level despite the early expectation of poorer crops due to a lack of rainfall. The wheat crop there is highly dependent on rainfall as very little of it is irrigated. Iran says that it is now fully self-sufficient in wheat and will no longer require imported stocks. The country is an exporter of hard durum wheat and shipped about 300,000 MT last year. Oman’s government announced that it has released about $5 million in wheat subsidies to millers, including about 50 percent of the outstanding amount due from the 2013-15 period. The millers hope that remaining balance will be paid shortly. The higher oil pr...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
From WPI Consulting
Infrastructure investment due diligence
On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.