GOOD MORNING, Prices are continuing to chop back and forth in trading range activity. Bulls want to see if this week's lows can hold. Wheat prices continue to place new lows as supplies are ample. Stats Canada yesterday was bearish for wheat, with overall production at the higher end of estimates. EU, Matif, Russian, and Australian wheat prices are lower. Corn is lower following wheat. However, South Korea has been an active buyer of corn this week on the break. US corn remains the best purchase globally. Ukraine had been a key competitor globally but cannot currently compete with US prices. In the soy complex, soyoil is higher on tight global vegoil supplies, and higher India a...
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.