The CBOT was mostly lower today with favorable weather across the Midwest aiding corn and soybean crops in maximizing this year’s potential yields. Technical selling was also notable as traders position for the August WASDE. Global wheat prices continue to move lower amid large supplies. In total, fundamental news was light, which left the market to continue its downward march. The delayed Export Sales report was bearish old-crop corn and basically confirmed that 2018/19 exports will fall about 70 million bushels short of USDA’s projections. Old-crop soybean shipments exceeded the value needed this week and will likely put final 2018/19 exports slightly ahead of USDA’s forecast. Wheat exports were mixed with sales b...
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.