GOOD MORNING, Strong cash markets, weather, and the unknown quantities of corn demand from China continues to underpin the markets in general. Demand and fund buying activity remains the key driver for price. US Trade Rep. office estimates that under the Phase One trade deal, China has purchased $23 bln of Ag goods, which is around 71% of the target under the deal. As such, US corn and bean sales are at their all-time highs, and the strongest start to their marketing year in history. Weather watchers are seeing better rain prospects materializing this morning across the Black Sea and SA. While beans hit a new contract high this morning on demand, wheat prices are lower which is weighing on corn. R...
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.