GOOD MORNING, Prices were mostly higher overnight taking back losses from Thursday's holiday shortened session. Funds are still holding long positions across the board, and were rewarded for their patience via the bullish USDA report. Weather is not bullish, as warm and dry conditions were good for warming up soils in preparation for planting. The market continues to digest the numbers from March 31, with acreage the most bullish component for new crop. Inverses continue to head lower as old crop prices remain locked in previous ranges, while new crop corn and beans score new contract highs last week. Inverses continue to weaken as new business to China continues quiet, and Brazil beans are much more in...
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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.