Turkey has announced a new $4 billion agricultural subsidy program that will cover 19 strategic crops. However, production of one in particular is nevertheless expected to drop because of a certain factor, and USDA is forecasting that the country may have to import stocks in 2017 as a result. Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Iran is reportedly able to export about 400,000 MT of durum wheat in coming months and is said to have been working on an export barter arrangement for up to 200,000 MT as well as 250,000 MT of milling wheat.The head of the Central Bank of Egypt (CBE) has said that the bank will take no action to support the Egyptian pound. Local bankers had expected that the CBE would inject about $4 billion into...
What You Need to Know Today: Grain futures fell hard overnight after the USDA’s Crop Conditions report showed better-than-expected ratings for corn and soybeans, despite difficult weather last week. The Conditions report was even more bearish in light of meaningfully beneficial rains acr...
Key Takeaways: New Mexico’s Clean Transportation Fuel Program expands demand for low-carbon fuels and creates another market for renewable feedstocks, adding incremental pressure to already limited supplies of lower-carbon inputs. Growing competition for waste-based feedstocks such as an...
As WPI reported on 17 July, the recently passed budget reconciliation bill in the House Budget Committee includes $12 billion in emergency farm assistance. This would be the seventh of the past nine years with ad hoc farm payments (FY2018, FY2019, FY2020, FY2022, FY2023, FY2024, and potentially...
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.