GOOD MORNING, Prices are higher across the board with new contract highs in soyoil, canola, and beans. November beans hit new contract highs at $12.65 1/4, while December corn hits a new contract high at $4.85 3/4. May oilshare jumps to 38.40%, new highs. China continues to purchase oils; Chinese customs data released Sunday shows that for Jan and Feb, vegoil imports totaled 2.04 mmt, up 48% from year ago. Palm oil is higher as well. Higher trends based on continuing excess dryness in Argentina and too much rain in Brazil. Some analysts may be lowering corn and bean estimates in SA again as a result. The vaccines and a return to normal consumption implies that demand is going to remain steady, so even w...
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.