A new report out of Virginia Tech University concludes that increasing agricultural productivity is not enough to meet demand for global ag production by 2050. Specifically, the report says that, … since 2011, average annual agricultural total factor productivity (TFP) growth has consistently fallen below the target growth rate required to sustainably meet global needs for agricultural outputs by 2050. TFP is simply a measure of the output of crops and animal protein (including aquaculture) using the same or less inputs such as land, labor, capital, fertilizer, feed, and livestock. According to the report, from 2011–2021, global TFP grew at an average of 1.14 percent annually; to meet the needs of 2050 a rat...
The U.S.-Mexico-Canada Agreement (USMCA) enters its mandated six-year review on 1 July. The original intent of the review is outlined in Article 34.7, which obligates members to: Provide recommendations and decide on appropriate actions. Extend the USMCA for another 16 years and meet aga...
Key Market Insights Geopolitical Limbo: Geopolitical risk remained a key driver across global commodity markets today. President Trump stated that the Iran memorandum of understanding is not yet final and warned that military action could resume if negotiations fail. Both sides continue w...
Key Takeaways: Drought remains a major threat to global agricultural production, particularly in regions with limited rainfall and growing water scarcity. Commercially available drought-tolerant traits in corn, soybeans, and wheat have generally delivered modest yield improvements, limiting th...
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.