The CBOT was mostly higher on Wednesday as traders continued adjusting positions and preparing for the upcoming September WASDE report. Wheat was the upside leader – though trading volume was suspiciously low – as concerns intensify about drought in the U.S. Plains, the Black Sea, and Argentina. Soybeans and corn were also slightly higher for the day with some spec funds paring back short bets heading into the WASDE. Expectations are for the WASDE to confirm record-breaking U.S. soybean and corn yields and issue generally bearish S&D tables, but there are some concerns about yields not making their full potential after the last season heat across the Midwest. Additionally, and unrelated to the USDA’s report, is the fac...
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.