Millers and grain traders in Zimbabwe have set a minimum purchase price for local maize of $335/MT, which is lower than the $390/MT that the government has said it will pay. The millers maintain that this price will also allow them to mill locally and compete against low-cost imports. Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Egyptian authorities report that 2.89 MMT of local wheat have been procured to date. The purchases are said to be running ahead of last year due to the availability of much more storage capacity, and there is speculation that the 4 MMT goal will be purchased well before the 30 June target date. The government also points out that it is actively monitoring the wheat to ensure that it is 100 percent locally...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
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.