Improving corn conditions and presidential tweets noting that China has not purchased any agricultural goods sent the markets lower overnight. The tweets suggested there has been little progress negotiating a trade deal, and traders are worried the president may be getting ready to apply more tariffs on Chinese goods. The soybean market desperately needs a trade agreement to spark some bullish sentiment, and today’s social media revelations were hardly encouraging. The day session saw continued selling at the open after yesterday’s poor close and technical weakness overnight. Even though soybeans did not move higher on earlier rumors of Chinese purchases/trade war progress, the negative news today certainly drove the market low...
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.