GOOD MORNING, Prices started mixed overnight, but mostly on the defensive led by beans and soyoil futures. This morning we are seeing another round of end-of-week profit-taking with bean, meal, and wheat prices all at four-week lows. Bean basis continues to go lower as bids move to November futures. The slow-down for April crush and basis weakness are resulting in lower trade, as is a correction in global vegoils. The market is now pricing in better weather, higher acreage, and potential larger supplies, vs. robust demand and firm cash. For the grains, the corn basis remains firm. Corn should remain firm on pullbacks despite lower trading ranges, and would continue to cover shorts or find places to own...
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.