Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Food price inflation rates, according to the World Bank, show Lebanon at 239 percent, Turkey at 76 percent, Egypt at 74 percent, Ghana at 49 percent, and Iran at 39 percent. Egypt’s consumption of food staples, like bread and rice, is expected to increase by 3 to 5 percent in 2024 while buying of non-staple items will drop due to high cost. The annual cost of living increase in Egypt – 35.7 percent in 2022/23 – is expected to drop to 25.9 in 2023/24 – according to the World Bank and assuming better foreign exchange supply. Egypt’s currency – the Egyptian pound – is expected to drop in “official” value a...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
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.