GOOD MORNING, Prices continue to rally led by the wheat market. Russia plans to raise its wheat export tax to 50 euros/ton from March 1-June 30, from the €25/MT tax set for Feb. 15 to March 1, as reported by the Economy Minister. Wheat is higher this morning trading to new contract highs. Better rains in SA find bean prices on the retreat today, while sharply lower palm oil prices pressure soyoil. Oilshare is weaker again. Beans will be supported by China still needing supplies, with the same for corn. The International Grains Council pegged worldwide 20/21 grain output at 2.21 bln mt, with 20/21 total grain consumption at 2.216 bln mt. The International Grains Council pegged worldwide corn o...
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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.