Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt has received 1,000,000 MT of local wheat since the harvest began on 13 April. The government’s target is to receive 3.5 MMT from the 2024 harvest. Egypt may become a market for South African maize exports in the future as a delegation from Egypt has visited South Africa for discussion of regulatory approvals and inspections of agricultural facilities. South Africa is said to be geographically well placed to supply the Egyptian maize market. Morocco based Forafric Global PLC has agreed to a 10-year lease and operating arrangement for a milling facility in Morocco. This existing facility will have a daily milling capacity of 600 MT of wheat, both...
Key Takeaways: The situation in the Arab Gulf is little changed this week, which is to say it is a day-by-day – and sometimes hour-by-hour – judgment call as to what is or will happen. There are some vessels transiting the Strait of Hormuz, but transits are a fraction of what they...
Grains posted strong gains today, putting the bulls firmly in the driver’s seat. There was no shortage of fuel for the move, with three W’s driving the rally: weather, war and worry. Weather: Cooler temperatures are temporarily easing stress across the Northern Plains and Midwest, b...
Key Takeaways: Global and U.S. cotton demand has struggled since the post-COVID-19 pandemic surge, which has left cotton prices drifting lower in the U.S. The war in Iran and the closure of the Strait of Hormuz, along with their impact on global energy markets, could boost cotton demand...
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.