Although Australia produces less than 5 percent of global wheat output, it is typically the world’s fourth largest exporter. Due to its tendency toward drought, production can be variable but still correlates over time to global wheat ending stocks. The Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) announced that wheat production this marketing year will be a record 34.4 MMT, a 1.4 percent increase from the previous year. However, some analysts cite the cool temperatures and excess rains in some places and contend the crop will be lower. Because of the overall tightness in global stocks, whichever estimate is correct will have an important impact. ...
What You Need to Know Today: Funds remain in control of the market, which means broadly bearish trade for the ag sector. Monday’s massive corn export sale to Mexico helped trigger some short covering and a bit of other end-user buying in corn, which could help stabilize the market. Wheat...
Crop Conditions-Argentina Corn Corn planting in Argentina has reached 47.3 percent of the projected 8.4 Mha, advancing 7.5 percentage points over the week and running 12.3 points ahead of last season, partly due to a larger early-planted area. Fieldwork gained momentum across western and southe...
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.