Reminder: the CBOT and CME markets will be closed Sunday night, 1 September and during the day on Monday, 2 September in observance of the U.S. Labor Day holiday. The markets will resume trading at 7 PM CDT Monday. The CBOT was mixed today as heavy wheat deliveries and liquidation ahead of a three-day weekend kept wheat on the defensive and capped any corn rallies. Trading volume was low and slow ahead of the weekend with spread trading and position adjusting based on the weekend weather forecasts. The weekend weather will largely determine next week’s market direction. Brokers suggest funds bought ~4,000 contracts of corn and soybeans while selling 4,500 contracts of wheat. The CFTC report found (through Tuesday)...
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.