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Middle East, Mediterranean and Africa Regional

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION BRICS membership increased on 1 January 2024 to include Egypt, Iran, Saudi Arabia, UAE, and Ethiopia in addition to existing members: Brazil, Russia, India, China, and South Africa. Further expansion is expected in 2024/25. Pakistan’s wheat production for 2023/24 is forecast by USDA-FAS to increase to 28 MMT, up from 26.4 MMT. Wheat imports are expected to drop by 600,000 MT to 2 MMT. Overall wheat consumption is up by 800,000 MT to 30.2 MMT. Oman Flour Mills started operations of its new feed mill with a capacity of 20 MT per hour. This new feed mill will greatly reduce the current dependence on imported animal feed supply. Iraq’s Ag Ministry...

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feed-grains soy-oilseeds wheat

Market Commentary: New Contract Lows, Including a Soymeal Double

Contrasted with yesterday’s sour mood, most contracts found greenery in today’s trading. But that doesn’t mean the bearish overcast went away, it just took a small break here and there. Beyond the general tenor, there were some notable milestones: Corn and soybeans got a sma...

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Ocean Freight Comments - 12 July 2024 By Matt Herrington Dry bulk markets were mixed this week with paper and physical markets showing diverging trends. The Baltic Dry indexes were mostly higher this week (except for the Capesize sector, which posted late-week declines) but physical markets wer...

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feed-grains soy-oilseeds wheat

Market Commentary: New Contract Lows, Including a Soymeal Double

Contrasted with yesterday’s sour mood, most contracts found greenery in today’s trading. But that doesn’t mean the bearish overcast went away, it just took a small break here and there. Beyond the general tenor, there were some notable milestones: Corn and soybeans got a sma...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 24 Corn closed at $4.1075/bushel, up $0.035 from yesterday's close.  Sep 24 Wheat closed at $5.7125/bushel, up $0.0975 from yesterday's close.  Nov 24 Soybeans closed at $10.6775/bushel, up $0.0075 from yesterday's close.  Dec 24 Soymeal closed at $315.5/short ton, down $0.9...

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From WPI Consulting

Weighing in on strategic realignment

WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.

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