Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Egyptian officials say that the government plans to buy at least 4 MMT of local wheat in 2018, an increase of 10 percent or more versus last year. The government has not yet announced its 2018 purchase price, but that is expected soon. Pakistan has reportedly agreed to subsidize 2 MMT of wheat for export, which will greatly interest East African buyers and UAE traders of low-cost wheat. Subsidies of up to $159/MT will be allowed. The government is currently holding 10.7 MMT and hopes to clear the very large stocks on hand before the 2018 harvest. Wheat production is encouraged in Pakistan by the very high domestic price of about $310/MT along with the 60 percent import tariff. Saudi Ar...
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.