Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA The Moroccan Government has increased its estimate of the grain crops as a result of very good growing weather. It expects that the total wheat and barley crop will reach 9.8 MMT which is 26 percent higher than last year. Common wheat is forecast at 4.8 MMT, corn at 2.4 MMT, and feed barley at 2.6 MT. The Moroccan government had also recently applied import duties on wheat and barley to protect the local crop – 135 percent for wheat and 170 percent for barley. Russian officials expect to ship up to 1 MMT of wheat to Algeria in 2021/22; this follows the initial shipment of 28,000 MT. Saudi Arabia reports it received its first shipment of wheat from its subsidiary i...
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.