GOOD MORNING, Prices are slightly firmer to begin the morning despite the fact that crude is once again falling to new lows. Much of the negative news is now out on the table, as prices and trading ranges ratchet lower. Funds sold more corn contracts yesterday. The closing of meat plants could lower feed use, and ethanol continues to struggle. Bean futures were lower on Monday on reports that China was purchasing more beans out of Brazil for their crush. China was also said to have purchased 2-3 cargoes of Argentine beans for the June/July time slot. Traders continue to hunt for signs of US bean business, with one media report stating that a state-owned Chinese crusher was asking for freight costs...
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.