Government Increases Assured Wheat Price The Indian government (GOI) last week increased the minimum support price (MSP) for wheat by $11.81/MT, an increase of 5.05 percent. The new MSP will be 13,500 rupees ($245.45) per MT for wheat from the 2013/14 crop. Some say the price increase is a political compulsion and many are opposed to it. The state government, for example, wanted the MSP at 18,000 rupees ($327.27) per MT, which includes all input costs such as diesel, fertilizer, land rental and hiked labor costs. The GOI also allowed an additional 2.5 MMT of wheat from warehouses to be exported in an effort to clear space for the new crop. There are still three months before new crop arrivals begin. According to government statement, the...
What You Need to Know Today: U.S. weather is getting more attention this week as conditions vary greatly across the western, central, and eastern corn belts, with the different regions battling dryness and too much rain simultaneously. The ProFarmer Crop Tour began today in Indiana and Nebrask...
Key Takeaways: Argentina is on pace for a record corn crop and record exports in the current marketing year, with abundant supplies likely to keep the country highly competitive in global export markets. Argentina’s record exportable surplus is allowing it to offer highly competitive pri...
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.