2021/22 world wheat is projected to decline 16.8 million tons to 1,065.7 million, primarily on lower production for Russia, Canada, and the United States. Partially offsetting these reductions are production increases for Ukraine and Australia. Ukraine is raised to a record 33.0 million tons. Australia is increased 1.5 million tons to 30.0 million as continued abundant precipitation has benefited crop conditions. 2021/22 world wheat consumption is reduced by 4.2 million tons to 786.7 million. Most of the consumption decreases are for feed and residual use. Projected 2021/22 global trade is lowered 5.8 million tons to 198.2 million on reduced exports for Canada and Russia only partially offset by higher e...
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 big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
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.