The Agricultural Outlook Report published by China’s Ministry of Agriculture and Rural Affairs established the goal of 88.4 percent self-sufficiency in grain (rice, wheat, corn, and soybeans) by 2032. The agency merges all four crops together because it cannot achieve that level of self-sufficiency in soybeans alone. The current self-sufficiency rate for the four combined is 82 percent. This is because self-sufficiency in rice, corn and wheat is already in the low to mid-90th percentile. Soybeans are the laggard at only 18 percent. China’s average yields for rice, corn and wheat are already above the world average. If China raised its average soybean yield to the world average of 2.99 MT/hectare, it would still only be 24...
Key Market Insights The broad market is locked in on this week’s Trump-Xi meeting in Beijing, but this is no longer just a trade summit. Increasingly, the meeting is becoming tied directly to Iran, energy security, and the growing global economic fallout from disruptions through the Strai...
From WPI Consulting
Illuminating the value of technical research
On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.