Updating Japan Rice The Nikkei reported today that Japanese Prime Minster Shinzō Abe's government plans to change the country's rice price support mechanism in order to adapt to the dynamics of the Trans-Pacific Partnership (TPP) agreement. Under the plan, rice farmers will no longer be compensated for limiting rice production under the so-called "gentan" policy, nor will they receive payments to offset low prices in the marketplace. Instead, farmers would pay into an insurance fund that would make payments during periods of lower prices.If Japan achieves this policy change, it will leave the U.S. as the only major rich country with a more market-distorting farm support policy. Europe has been moving toward decoupled payments and non-c...
What You Need to Know Today: The Trump administration announced new tariffs of 10 percent to 12.5 percent on imports from 60 major U.S. trading partners as part of a Section 301 action aimed at combating forced labor in global supply chains. Countries that have agreed to adopt and enforce bans...
Key Takeaways: Grain futures pulled back sharply in overnight trade Friday on rumors that Ukraine proposed two possible options for ensuring civilian vessel safety in the Black Sea. Both Russia and Ukraine have recently targeted civilian vessels carrying oil and grain in the Sea of Azov...
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.