Yesterday’s firmer market did not have the legs to carry over into the night session. Grain and soybean values turned lower in overnight trade with corn futures down a fraction, soybeans off 1-2 cents and Chicago wheat down about 4 cents. Trading volume was again quite low. The price weakness accelerated during the day session with technical weakness again attracting modest fund selling. The result found all grain and soy complex futures contracts closing with red numbers. Old crop corn futures ended down more than 3 cents with new crop contracts showing slightly smaller losses. Soybeans took heavier losses of 11.5-12.0 cents. Meal closed down $3.70-3.90, while soyoil dropped 22-25 points. Yesterday’s wheat rally had a short li...
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.