At the macro level, the day started off with a strong U.S. jobs report that indicated 224,000 jobs were created in June. This reduced the chances that the Federal Reserve will lower interest rates, which buoyed the U.S. dollar and caused equities to back off from the roaring gains of the past few days. The strong U.S. economy and its accompanying firm U.S. dollar will put downward pressure on exports. Corn FUTURES Moist but warm conditions give a boost to the production outlook for even a late-planted corn crop, and the market started out down slightly. Still, the nearby contracts managed to climb another penny or two. Trade was in a narrow post-holiday range. An announcement by U.S. EPA of a slight increase in the Renewable Fuel...
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.