The CBOT today saw light liquidation in soybeans, early short covering in corn that eventually broke down into a lower close, and continued bull spreading in soyoil. The ongoing U.S. harvest remains a bearish factor with cash sales accelerating and weakening basis levels. Overall, the market was mostly positioning for the WASDE report, as well as reacting to some bearish trade news. Reuters today reported that a U.S.-China trade deal could be delayed until December. Discussions over final agreement terms, as well as where to sign an agreement, are stalling progress. Switzerland and Sweden are reported as potential sites for a deal-signing, though neither are confirmed. Reportedly, one senior White House official said Iowa is “n...
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.