After yesterday’s lashing, the grain and soy futures markets tried to rally during the overnight session. Corn and soybeans gained a few cents, and wheat, which took the worst beating, regained several cents. However, the rally effort was not able to generate any momentum, and it had faded away by the time the day session opened. The relatively quiet day session found no bullish enthusiasm. Corn prices puttered around before closing fractionally lower. Nearby Chicago and KC wheat contracts closed a few cents higher, but the more deferred contracts struggled to stay in the green. We cannot even call wheat’s action as much as a “dead cat bounce.” The soy complex continued yesterday’s slump with beans down 8.5-9...
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.