The market was called mixed at the open, and it followed suit. There is rising open interest, some rising prices, but volume was unremarkable except in wheat, where people are trying to get out, or lean hogs where the goal is to get in. Profit-taking in sideways market results in chop. The export sale of nearly 9 MMT in U.S. commodities last week, including a record amount of corn, was not enough to feed the bull. The corn pit sniffed a 300 percent jump in export sales from the week before and sent the price lower. Wheat likely deserved the losses to stay competitive and soyoil continued to pull soybeans higher. There is concern about the rising value of the dollar, up 2.25 percent in a month while the euro has fallen 2...
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.