The joint OECD/FAO annual Agricultural Outlook report issued yesterday says that global meat consumption will grow by 12 percent over the coming decade (2020-2029). They also predict that half the increase in consumption will occur in poultry due to its lower cost. However, USDA’s forecast for global meat trade over that same period shows a larger gain for pork. The OECD/FAO forecasts that real prices for beef will decline the most over the period, though pork and poultry prices will also decline. Meat consumption is at a low point this year due to COVID-19 and African Swine Fever. The latter problem maybe why USDA sees stronger growth for pork trade than for poultry. Either way, the OECD/FAO correctly notes that forecasts invo...
What You Need to Know Today: China’s state-run COFCO, in statements on Tuesday, implied that U.S. corn exports were currently uneconomical but hinted that the Middle Kingdom would import 3.5 MMT of the feed grain this year, with 1 MMT likely sourced from the U.S. Another drone attack has...
Tanker-tracking data shows a smaller recovery in oil flowing through the Strait of Hormuz than previously thought. Energy Secretary Chris Wright, speaking by video to an international energy conference in Riyadh, Saudi Arabia, said that oil moving through the strait was back to 80 to 90 percent...
Key Takeaways: While soybean, palm, sunflower, and rapeseed oils dominate global vegetable oil markets, premium oils such as olive, avocado, coconut, and sesame command substantially higher prices due to their distinctive flavors, nutritional characteristics, and specialized culinary uses.. Ol...
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.