The CBOT was mostly lower on Wednesday with favorable U.S. weather providing little incentive to remain bullish corn or soybeans. Wheat futures were mostly lower following yesterday’s jump higher but still held technical support. U.S. equities and macro markets were sharply weaker on Wednesday, and that fact pressured CBOT markets as well, especially soyoil. Fundamental news remains light with no fresh export sales news and mostly favorable U.S. and international weather. Europe should receive hot weather this week, but rainfall will be adequate, eliminating any serious crop damage risk. Recent rains across Europe have greatly benefitted spring crop conditions and yield forecasts are improving. Southern Russia and eastern Ukrai...
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.