Regional News Last week, the International Grains Council (IGC) pegged the 2020/21 world grain production forecast at 2,224 MMT, up 9 MMT from the prior estimates. The IGC also pegged 2021/22 production at 2,287 MMT - a record high that is 63 MMT above the current year’s forecast. Of the IGC’s world grain production figure, the 2021/22 wheat was forecast at 790 MT, up 16 MMT year-over-year (YoY). Global corn production was estimated at 1,193 MMT, up 54 MMT YoY while soybean production was forecast at 383 MMT, up 22.5 MMT YoY. Ukraine’s Deputy Minister for Development of Economy, Trade, and Agriculture indicated the country is interested in developing closer cooperation and economic ties with China. Far...
What You Need to Know Today: President Trump claimed the ceasefire between the U.S. and Iran was over, as both sides accused one another of violating the terms of the agreement. Commercial vessels are increasingly steering clear of the Strait of Hormuz as security risks escalate following Iran...
Key Takeaways: The CME Group is launching new 90 percent Lean Beef and 50 percent Lean Beef futures and options contracts in July. There are five key factors that must be present in physical markets and futures contract specifications for futures contracts to become successful. The two l...
Russian Grain Markets: 29 June-3 July 2026 The new marketing season has officially begun in Russia, although bearish sentiment has been concentrated in the southern regions closest to the Black Sea ports, where export demand has been weakest. Delays in grain deliveries to inland elevators have...
From WPI Consulting
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.