World Perspectives
feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Iran has proposed to Russia that grain shipments can be made from Russia to third countries using “safe, alternative” Iran routes. Iranian officials say that this Russia/Iran route is yet to be used but that progress is being made. Iran’s failure to announce new “guaranteed purchase prices” for wheat is causing farmers to hold off on planting the winter wheat crop. Prices were originally to be announced in late July but so far there has been no announcement. Iran is the world’s second largest per capita consumer of bread, so the wheat crop is of major importance. Total wheat consumption is stated as 14 MMT with the govern...

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feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Iran’s wheat production is forecast by the FAO to be at 13.5 MMT out of total grain production of 19.8 MMT, including rice. Iran’s total grain imports are seen as reaching 14.9 MMT. Iran’s govern...

feed-grains soy-oilseeds wheat

Market Commentary: Corn, Soy Post Turnaround; Hog Selloff Continues; Cattle Shrug Off COF Report

Trade at the CBOT was dynamic and interesting on Monday with early-day weakness sending wheat, corn, and soybeans all to fresh lows while late-day short-covering and buying pulled the latter two markets higher. Soybeans scored double-digit gains for the day while the corn market could only mana...

feed-grains soy-oilseeds wheat

WPI Crop Progress and Conditions App (Updated 24 June)

Update for 1 April 2024: Last year, users pointed out differences between the 5-year averages reported in this app and what USDA estimates in its weekly report. The difference exists because WPI calculates average based on the last 5 years of observations for the current week. In cases where ob...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Iran’s wheat production is forecast by the FAO to be at 13.5 MMT out of total grain production of 19.8 MMT, including rice. Iran’s total grain imports are seen as reaching 14.9 MMT. Iran’s govern...

feed-grains soy-oilseeds wheat

Market Commentary: Corn, Soy Post Turnaround; Hog Selloff Continues; Cattle Shrug Off COF Report

Trade at the CBOT was dynamic and interesting on Monday with early-day weakness sending wheat, corn, and soybeans all to fresh lows while late-day short-covering and buying pulled the latter two markets higher. Soybeans scored double-digit gains for the day while the corn market could only mana...

feed-grains soy-oilseeds wheat

WPI Crop Progress and Conditions App (Updated 24 June)

Update for 1 April 2024: Last year, users pointed out differences between the 5-year averages reported in this app and what USDA estimates in its weekly report. The difference exists because WPI calculates average based on the last 5 years of observations for the current week. In cases where ob...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.335/bushel, down $0.015 from yesterday's close.  Sep 24 Wheat closed at $5.71/bushel, down $0.0475 from yesterday's close.  Jul 24 Soybeans closed at $11.7525/bushel, up $0.1475 from yesterday's close.  Jul 24 Soymeal closed at $372.8/short ton, up $11 fr...

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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.

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