World Perspectives
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Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Iran’s wheat production is forecast by the FAO to be at 13.5 MMT out of total grain production of 19.8 MMT, including rice. Iran’s total grain imports are seen as reaching 14.9 MMT. Iran’s government reports local wheat purchases of 4.77 MMT so far this harvest. The wheat harvest will continue into late September reaching 13.5 to 14.0 MMT. Turkey’s Flour Industrialists Federation said wheat production will reach 20 MMT in 2024 and Turkey will continue to be the world’s largest flour exporter as it has been for the past 15 years. Egypt will have three-hour electricity cuts all this week due to very high temperatures and increa...

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feed-grains soy-oilseeds wheat

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feed-grains soy-oilseeds wheat

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feed-grains soy-oilseeds wheat

Summary of Futures

Dec 24 Corn closed at $4.1075/bushel, up $0.035 from yesterday's close.  Sep 24 Wheat closed at $5.7125/bushel, up $0.0975 from yesterday's close.  Nov 24 Soybeans closed at $10.6775/bushel, up $0.0075 from yesterday's close.  Dec 24 Soymeal closed at $315.5/short ton, down $0.9...

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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.

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