Milling Wheat The EU allocated 607,000 MT of wheat export licenses this week, bringing the total to 13.8 MMT versus 9.4 MMT allocated at the same time last year.Bulgarian, Romanian and Serbian wheat have traded to different Mediterranean destinations this week at an equivalent of about $305 FOB Black Sea. The market is under heavy pressure because of the liquidation of long positions and very low demand. Buyers are reluctant to purchase wheat because prices are eroding every day and the inverse between the old crop and new crop arriving in about four to five months is significant at about $40. On paper, the remaining surplus in Romania, Bulgaria and Serbia is small (fewer than 500,000 MT). However, the market feels as though the surplus...
Yesterday, Alberta held a referendum on whether to begin the process toward independence from Canada. With more than one million votes counted as of early Tuesday morning, around 77 percent supported remaining in Canada, and 23 percent voted to start the process of separation, according to unof...
Mediterranean/Middle East/North Africa/Africa – MEA Region Pakistan’s smaller wheat farmers have been holding protests to complain about the lack of a support price for wheat and the potential expansion of GMO crop production. They also want the reinstatement of PASSCO, the governme...
What You Need to Know Today: Harvest pressure in the U.S. sent corn and soybeans lower as supplies increased and there were signs USDA’s upward revisions to yields in the October WASDE could be close to right. The conflict between Russia and Ukraine escalated over the weekend, with Ukrai...
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.