Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Pakistan’s government has increased the wheat demand estimates for 2021 by 2 MMT to 29.5 MMT/yr. If this revised estimate is correct, it will probably mean another wheat crisis for the country with wheat imports of as much as 3 MMT needed. However, there are some comments that production in 2021 may be higher than initial forecasts which may reduce wheat import needs to about 1.5 MMT. The Jordan Agriculture Ministry and the Royal Jordanian Air Force are “taking action” against desert locust swarms on its border with Saudi Arabia and Iraq. Spraying of swarms is being done in a wide area. The USDA-FAS office in Amman Jordan has reissued its Jordan Grain and Fe...
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.