Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS The Syrian government expects that it will only be able to purchase about 1 MMT of local wheat in 2018. Due to difficulties there, production has dropped from 4 MMT per year to less than 1.8 MMT, and the government needs at least 1.5 MMT to cover its wheat flour needs for wheat flour for subsidized bread. In the recent past, Syria had announced a three-year agreement was in the works with Russia for the supply of 3 MMT, but little information has been released regarding this arrangement. Dubai-based AOS Trading has allegedly been unable to deliver 120,000 MT of wheat (in two lots) to Egypt’s GASC, which says it had provided the firm with timing extensions and still did not receive...
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.