It was all about the WASDE today with futures mostly consolidating overnight before trading lower heading into the report. The most notable feature in the August WASDE was the bearish surprise to the corn market with 2019 corn planted acres and yields estimated at 90.0 million and 169.5 bushels/acre, respectively. Both figures were above market expectations and created a 2.181-billion-bushel carryout that was also unexpected. USDA decreased soybean planted and harvested acreage but left yields unchanged. However, those estimates were largely anticipated by the market and left only a minor bearish impact on futures. Further analysis of the August WASDE can be found on WPI’s website under the “PM Post–Markets React” an...
From WPI Consulting
Illuminating the value of technical research
On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.