GOOD MORNING, Prices continue lower as funds are taking money out of the markets on technical considerations as more bearish formations create a down-turn, but also on macro considerations as pre-election jitters arise. Spreads are breaking down as well. Crude oil drops to $35.36/barrel, driving commodity basket prices lower. Crude has been a consistent barometer of commodity strength or weakness, and today it seems to be creating weight on the indexes in general. Meal prices are lower but suffer the least amount of loss as continued problems in Argentina's crush industry returns business to the US. Argentina's main union for crushing workers staged a strike after a proposed Covid-19 bonus payment...
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.