Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Grain importers in the region were very interested in Russia’s announcement of its new export taxes. From 2 June, wheat will be taxed at $28.10 MT which is $32.59 MT less than the current tax. Barley exports will be taxed at $39.60 MT an increase of $12.14 MT while corn will be at $52.20 – up by $21.85 MT. Taxes are based on a seven-day average index price with the tax revised each week. Iran is reported to be shopping for milling wheat, feed wheat, and corn due to this year’s crops being lower than expected. Feed wheat is being looked at in place of corn for animal feed use due to the current very high corn prices. It has also been mentioned that Iran may al...
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.