GOOD MORNING, Prices begin the morning mixed with soyoil and corn moving to new highs. Soyoil futures did see profit-taking once new highs were placed, and futures are lower on the back of weaker palm oil prices. Beans are supported this AM by chatter that China has purchased more cargoes, and a story that China and the US have agreed to reaffirm their commitment to the phase one deal. China's commerce ministry confirmed that both sides had constructive talks and agreed to drive the implementation of the deal forward. The major catalyst behind trade today was crop progress numbers that came in worse than expected. Traders continue to weigh declining crop conditions against good rains that could bring cooler 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.