Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt reports that Suez Canal fees have dropped by 40 percent so far in 2024 as a result of the Red Sea difficulties near Yemen which is causing the rerouting of vessels. Actual vessel passages are down by 30 percent. Egypt’s imports of maize are forecast to drop by 25 percent in 2023/24 according to Egypt’s Al Arabiya. Total maize imports are seen as 6.3 MMT, dropping from 8.3 MMT. The drop in imports is said to be due to the lack of foreign currency for private sector importers and not due to any lack of demand. Iraq will not be importing wheat in 2024 due to a seven-month supply on hand and the expected large 2024 domestic wheat crop. 2 MMT...
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.