The CBOT continues to settle into trading ranges ahead of the March Prospective Plantings and Grain Stocks reports, which will determine much of the trading direction for both old-crop and new-crop futures. A second day of Chinese corn purchases pushed corn futures higher while the soy complex continues to weaken on profit taking in soyoil and a weaker technical outlook. Notably, however, end-users continue to buy breaks below $400 in soymeal, which is pushing that market towards a sideways trading range. Funds were net buyers in corn today while being modest net sellers in the soy complex. Wheat futures continue to grind lower, but the KC market is approaching key support points where buying interest is picking up. WPI favors a bull...
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.