Note: the CBOT and CME markets will be closed on Monday, 25 May and WPI’s offices will be similarly shutdown. The CBOT finished the week with slow, low-volume trade as traders are unwilling to absorb additional risk heading into the three-day weekend. Brokers estimate that funds sold some 4,500 contracts of wheat, 5,000 contracts of corn, and 1,200 contracts of soybeans. The lack of interest in carrying a large position into the weekend was evident in corn as that market sold off early under pressure from funds but closed near the opening value. The U.S. 7-day weather forecast remains favorable for planting and crop growth with above-average temperatures across nearly every region but the Southern Plains. Precipitation w...
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.