Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Much of the region is closed until 5 May due to post Ramadan Muslim holidays for Eid El Fitr. Iraq’s official projection for the wheat crop for 2022 is 2.5-3 MMT which the government says will cover all needs to the end of 2022. The area planted in rice will be reduced due to a shortage of available water resources. Egypt’s inflation could reach as high as 17 percent in 2022 according to projections by Goldman Sachs – mainly due to lower value for the Egyptian currency and much higher food costs. Egypt is very vulnerable due to its normal supply of 80 percent of wheat imports from Russia and Ukraine and up to 40 percent of tourists coming...
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.