GOOD MORNING, Prices continue to trade mixed, with the major direction for most of the markets sideways to lower. Funds are now estimated to be short 8,000 wheat contracts, 175,000 corn, and 24,000 meal. Funds are estimated to be long 55,000 bean contracts and 54,000 soyoil. Into the August 12 WASDE, we will continue to see the usual trade estimates. Another firm forecast bean yield at 52.5 bpa, putting production at 4.352 bln bu. 2020 corn bpa was forecast at a more modest 179.6 bpa, with production at 13.617 bln bu. The bull component of trade continues to be that of strong oilshare, with soyoil futures on a higher path backed by higher crude and strong world veg oil values. Soyoil futur...
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.