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wheat

WASDE Wheat

USDA reduced their estimate for U.S. wheat production to 1,734 million bushels, down 5 million from last month as lower Other Spring and White wheat production is partially offset by increases for Hard Red Winter (HRW), Soft Red Winter, and Durum. The all-wheat yield is 45.8 bushels per acre, down 0.3 bushels from last month. Wheat exports are reduced 25 million bushels to 700 million, on the weak sales and shipment pace to date for HRW, where all the reduction is made. Projected 2023/24 ending stocks are raised 23 million bushels to 615 million - but remain well below the 5-year average of 846 million. The 2023/24 season-average farm price is unchanged at $7.50 per bushel. USDA estimates that global wheat supplies will decline 4.3 million...

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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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