Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS The latest USDA-FAS report on Turkey says that very dry weather could reduce the wheat and barley production in the country. Wheat production could be as much as 3.0 MMT lower to 17.8 MMT with barley production down by 600,000 MT to 7.9 MMT --- corn production is expected to be at the originally forecasted level of about 5.5 MMT. Actual wheat consumption in Turkey will not drop as a result of the lower crop. The production shortfall will come out of a good level of stocks on hand at end of 2018/19. For 2019/20, Turkey is expected to import about 7 MMT of wheat while exporting almost 6.8 MMT of wheat products – mainly wheat flour. Turkey’s wheat flour exports are b...
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 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...
We have described the long-term investment climate in crop and livestock production, using data primarily from the Bureau of Economic Analysis (BEA). The data provided background on the current investment climate and outlook for agricultural capital formation. Our conclusion was that investment...
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.