The Food and Agricultural Policy Research Institute (FAPRI) prepares in the late fall of every year a preliminary baseline based on agricultural production, consumption, and trade. This is followed by an extensive outside review, re-evaluation of projections, and completion of the final baseline in January. The baseline assumes continuation of current agricultural and trade policies by world governments and assumes normal weather in the future. Macroeconomic assumptions on world general economic activity are derived from both Project LINK and the WEFA Group projections
