An initial estimate of Russia's 2014 grain and leguminous crop harvest indicates that it should surpass the 2013 total. Meanwhile, implementation of the new wheat export duty on 1 February is expected to stablilize the domestic grain market environment. Russian Grain Markets Harvest Results According to Rosstat, Russia's Federal State Statistics Service, the preliminary estimate of the country's grain and leguminous crop harvest was 103.836 MMT (excluding results of the Crimean Federal District), which is higher than the 2013 total of 92.385 MMT. The 2014 estimate includes 58.994 MMT of wheat (52.091 MMT in 2013), 19.984 MMT of barley (15.389 MMT in 2013), 3.274 MMT of rye (3.36 MMT in 2013) and 11.091 of corn (11.635 in 2013). Also harv...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
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.