Russian Grain Markets: 19–23 June 2023 Russian analysts cut previous grain production forecasts by 2.3 MMT – down to 134 MMT - due to weather conditions, especially in Siberia and Volga Valley. The wheat production forecast dropped from 88 MMT to 86.8 MMT, barley forecast from 20.8 MMT down to 19.9 MMT, and corn production dropped from 14.8 MMT to 14.6 MMT. The estimated spring wheat planting area increased from 13 Mha to 13.6 Mha. Russian grain markets remained bearish except for milling wheat and especially top-quality milling wheat. Russia remains one of the world’s leading suppliers of wheat to North Africa and Middle East markets and this helps milling prices remain stable even at the crossroads of a new seaso...
What You Need to Know Today: Crude oil prices extended their rally today, supported by several developments, including escalating Houthi attacks on Saudi Arabian oil infrastructure and growing concerns about supply disruptions. The Trump administration is reportedly preparing to remove 50 perc...
Regional News Dry weather across the UK and Europe is becoming increasingly concerning for the 2027 crops as planting intentions are lowered amid dry soil conditions. Delayed sowing or establishment under adverse conditions could leave crops more vulnerable to frost/freeze events and dise...
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.