Wheat Wheat prices continue to rise in Argentina’s local market, mainly due to millers’ participation as farmer sales remain low. While many mills still have sufficient stocks for a few months, they cannot afford to stop buying as there are many months remaining until the arrival of the new harvest. The overlap between the old (2022/23) and new (2023/24) crops could be even further away than expected. If the planting of new wheat fails, mills will not find the necessary relief in November/December with the harvest. At the same time, there are no incentives for farmers to sell wheat. Farmers believe that prices are low and should rise as everything indicates that a bullish trend has started for wheat prices that will only end...
What You Need to Know Today: U.S. naval escorts through the Strait of Hormuz and renewed Iranian attacks on vessels and UAE infrastructure are sustaining geopolitical risk across energy and commodity markets Broad profit taking and weaker crude oil triggered a pullback across grains, signaling...
Mediterranean/Middle East/North Africa/Africa – MEA Region Egypt and Algeria, in addition to Israel, are being monitored by Ukraine as possible destinations for grain taken by Russia from occupied Ukrainian regions. In April, Egypt had said that it would “stop accepting such shipmen...
What You Need to Know Today: U.S. launches naval escort operations in the Strait of Hormuz as Iran attacks UAE oil infrastructure, escalating geopolitical risk and supporting energy and broader commodity markets Biofuel demand entering uncharted territory, with soyoil valuation increasingly di...
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.