The day started and ended as called with Chicago wheat and the livestock complex in the green while corn and soybeans went under water. Wheat remains the play with substantial volume trying to get in even as there was substantial volume working against soybeans. With a three-day holiday weekend coming up, more will be wanting to pull chips off the table tomorrow, except maybe wheat. Notably, the ink has barely been dry on the May WASDE report and its call for large global wheat stocks before the market switches its attention to excessive heat and dryness in Europe, plus parts of the Black Sea. There is even talk of Russian export quotas as domestic flour prices spike. At the same time, the HRW crop tour found suboptimal conditions in Kansa...
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.