Iraq’s Kurdish wheat farmers are very upset that the government only intends to buy 500,000 MT of their 1.8 MMT production. The government says that it does not have the funds available to buy any more than that, but the Kurds disagree and cite a different reason. Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS The Middle East/ North Africa (MENA) grain business will become very quiet later in May as Ramadan (the Muslim month of fasting) starts about 27 May and doesn’t end until the Eid al Fitr celebrations around 24 June. However, there is a rush to cover all May/June needs during the period before it all begins. Working hours, including those of banks and government offices, are normally shorter during Ramadan, which means that bus...
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 big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
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.