Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS The Syrian government expects that it will only be able to purchase about 1 MMT of local wheat in 2018. Due to difficulties there, production has dropped from 4 MMT per year to less than 1.8 MMT, and the government needs at least 1.5 MMT to cover its wheat flour needs for wheat flour for subsidized bread. In the recent past, Syria had announced a three-year agreement was in the works with Russia for the supply of 3 MMT, but little information has been released regarding this arrangement. Dubai-based AOS Trading has allegedly been unable to deliver 120,000 MT of wheat (in two lots) to Egypt’s GASC, which says it had provided the firm with timing extensions and still did not receive...
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.