Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Reports in Nigeria say that the backlog for vessel discharge can be as long as one month and that the cost of moving a container from the port into Nigeria can be as high as $4,000 per container. Dozens of ships are waiting for discharge while there are long, long, long lineups of trucks waiting to enter or exit ports. Much of the port congestion problem is being put on COVID-19 restrictions and lockdowns. Critics say that the problems are not all COVID-19 related as there has been no port expansion in 25 years. Vessels are reportedly avoiding Nigeria ports and discharging in neighboring countries then transporting to Nigeria in trucks. Lineups for subsidized bread in Da...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
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.