Regional News U.S. Bank JPMorgan Chase secured a license from the U.S. Office of Foreign Assets Control (OFAC) to process payments from Russian bank Rosselkhozbanka for the export of agricultural products. Through 27 April, 1.368 Mha have been sown to spring cereals in Ukraine, including 206,100 ha of wheat; 639,000 ha of barley; and 252,700 ha of corn. Sunseed sowings have been completed across 460,200 ha. Russia’s 1 April 2023 grain stocks totaled 18.055 MMT including 12.88 MMT of wheat stocks. The government of Moldova announced it will sell 21,083 MT of wheat from its state reserves with the intention to replenish the stockpiles with grain from the 2023/24 crop. The EU Commission agreed to introd...
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.