Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION North Africa is said to be the largest wheat importing region in the world according to a recent report and the GRO Drought Index. Wheat import by the region in 2023/24 will be the highest in seven years with wheat stocks in Morocco, Algeria and Tunisia at 10 year lows. The increase in imports is due to the 50 percent plus drop in rainfall in Morocco, Algeria and Tunisia. While there has been some recent rainfall in the region it has not been enough to rebuild the soil moisture levels. Egypt has not seen the same levels of drought and Libya produces very little wheat. Egypt’s grain imports are expected to drop slightly in 2023/24 to 20 MMT, according...
What You Need to Know Today: CBOT markets pared Monday’s sharp losses as traders booked short profits and adjusted positions ahead of the Grain Stocks report that USDA will release Wednesday afternoon. The 7-day QPF forecast from NOAA now shows heavy rain across the central and western C...
Key Takeaways: Comparative advantage encourages countries to specialize in goods they can produce at a lower opportunity cost and rely on trade for others. Differences in climate, land, infrastructure, and technology help determine where agricultural commodities can be produced most efficientl...
Mediterranean/Middle East/North Africa/Africa – MEA Region Iran is reported to have completed its rail link from the border with Afghanistan to the Iranian port of Chabahar on the Gulf of Oman — the link is expected to be fully operational in early 2027. This will be Afghanistan&rsq...
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.