The CBOT opened sharply higher Sunday night and that strength continued into early-day trade on Monday. Continued dryness for Argentina and southern Brazil combined with overly wet weather for central/northern Brazil helped the markets move higher initially. The rally attracted selling pressure, however, that pulled corn and soybeans off the day’s highs and back within their respective trading ranges. Wheat futures finished sharply lower as the commodity remains the sell-leg of bull spreads from the corn and soybean markets. A sharply higher U.S. dollar and better weather forecast for the U.S. Plains and Black Sea also pressured futures. The March WASDE will be released at 12:00 Noon EST tomorrow and traders/analysts are genera...
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.