Norway will reportedly begin spending $6 million/year through the end of the decade to purchase 15,000 MT grain each year for a strategic reserve. Although the grain is not specified, it will presumably involve wheat since that is the primary food grain consumed by Norway’s 5.4 million people. The number is quite modest, though the policy rationale is unclear. Presumably, concerns have been elevated over Russian aggression and its role along with Ukraine in supplying a large share of the globally traded supply. The stockpiling of grain is generally done by governments in China, India, and Russia, and by private enterprises elsewhere. China is the 800-pound gorilla in grain storage, holding on to two-thirds of the world’s reserv...
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.