Milling Wheat Large supplies and strong exports of wheat from the Black Sea and Russia continue to cap upside potential for wheat. U.S. and EU markets rallied last week until late in the week, when they hit a combination of technical pressure and increased competition from the Black Sea. Chicago futures rallied to their highest levels since December last week, with winter wheat and winterkill concerns in the U.S., and South American heat stress, driving the rally. A sharply weaker U.S. dollar also boosted futures while weighing on UK and EU futures. EU wheat futures are recovering from last week’s pressure (brought on by the strong euro and large old-crop stocks, with export forecasts seemingly revised lower each wee...
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.