Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Eid-Al-Adha will be celebrated in Muslim countries from 27 June until 1 July. Businesses, banks, and the government will be closed for this period. Morocco will offer subsidies on up to 2.5 MMT of imported milling wheat during from 1 July - 30 September. An import “benchmark” price of about $271.60 has been set by the government and importers will be reimbursed for any cost above that level. Egypt is expected to be the number one importer of wheat again in 2023/24 with imports that could be at 12 MMT. Turkey, Algeria, Morocco, and Nigeria are also in the top 10 list of wheat importers. Egypt’s Suez Canal has seen a drop of 40 percent in...
What You Need to Know Today: CBOT markets pared Monday’s sharp losses as traders booked short profits and adjusted positions ahead of the Grain Stocks report that USDA will release Wednesday afternoon. The 7-day QPF forecast from NOAA now shows heavy rain across the central and western C...
Key Takeaways: Comparative advantage encourages countries to specialize in goods they can produce at a lower opportunity cost and rely on trade for others. Differences in climate, land, infrastructure, and technology help determine where agricultural commodities can be produced most efficientl...
Mediterranean/Middle East/North Africa/Africa – MEA Region Iran is reported to have completed its rail link from the border with Afghanistan to the Iranian port of Chabahar on the Gulf of Oman — the link is expected to be fully operational in early 2027. This will be Afghanistan&rsq...
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.