New Grain Production Estimates The government of India (GOI) released its third advance estimates on 23 April, putting 2011/12 grain production at 252.56 MMT, nearly 2 MMT higher than the second advance estimates of 250.42 MMT released on 2 February. The total grain production is estimated to be 7.78 MMT higher than last year's grain production of 244.78 MMT, an increase of 3.17 percent.Rice production is estimated at 103.41 MMT. Wheat production is estimated at 90.23 MMT, a new record, and is higher than last year's production by almost 4 MMT and higher than the second advance estimates by almost 2 MMT.With the country's problem of plenty and unavailable storage space, there are indications that GOI may release more grain under the Open...
What You Need to Know Today: Cattle futures extended their sharp selloff Friday as weakening cash cattle prices, deteriorating feedlot profitability, and reduced packer demand continued to weigh on the market. The inability of futures to sustain a rally following last week's bullish Cattle on...
As predicted, the Federal Reserve held rates steady at the last meeting before the midterm elections, likely in part because of the election (see WPI 19 October and 22 September). The decision comes at the tail end of a midterm election cycle that has been marked by the two parties campaigning...
Key Takeaways: WPI’s new EU rapeseed crushing margin models point to weaker processing returns over the next four months due to higher rapeseed procurement costs and weaker product values. Statistical forecasts call for German crushing margins to decline from €181/MT to €...
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.