To protect its local crop, Morocco has reintroduced a significant tariff on soft wheat imports until the end of 2017. As in the past, tariff levels will be adjusted in accordance with the domestic supply situation. It has also implemented a program to influence certain users' decisions. Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Egypt reports that farmers have been paid 4 billion Egyptian pounds ($220 million) for wheat delivered to the government. A total budget of 16 billion Egyptian pounds ($880 million) is allocated for the purchase of almost 4 MMT. According to the government, 1.7 MMT have been bought to date. It also indicated that it intends to expand local wheat storage capacity from 1.6 MMT to 3.1 MMT by the end of 2018...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
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.