Wholesale wheat prices in New Delhi, the country’s key market, surged to Rs.23,916/MT ($346/MT) on 18 November from Rs.18,858/MT ($281/MT) on 18 October. There are many reasons for this, and the trade anticipates prices could rise further. Rupee Tanks as USD Grows Stronger Following its demonetization by the government of India (GOI) on 8 November 2016, the rupee crashed to almost a 39-month low of Rs.68.84 to the USD. The last time it reached this level was in August 2013. (The rupee did settle at Rs.68.43 over a 12-hour period on 24 November.) USD demand is high as foreign institutional investors (FII) have been selling and importers need to clear their bills. The general belief is that the stronger USD is due to the Trump win and not t...
What You Need to Know Today: A third U.S. border crossing (Columbus, New Mexico) has reopened to Mexican cattle imports following nearly two years of restrictions related to New World screwworm. The reopening could gradually improve feeder cattle availability, although more than 60 confi...
Mediterranean/Middle East/North Africa/Africa – MEA Region Bangladesh has asked the USA for technical assistance to improve grain storage and strengthen quality testing of imported grains. Of major importance to Bangladesh is the “technology to improve grain preservation and grain s...
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.