The CBOT started the holiday-shortened week in a lackluster manner with the soy complex sinking lower, largely on weaker palm oil values and soymeal deliveries, while wheat and corn futures scratched out small gains. Trading volume was light for the day and the last day of the most recent heatwave seemed to bring little excitement for the markets. Traders are largely banking on the hope that corn and soybeans have mostly defined their yield already and, consequently, the last week’s heat will do little to dent production. Funds were net sellers in the soy complex and are thought to have been flat corn and wheat while still being net short those commodities. The heatwaves of the past two weeks have started to dent corn and soybe...
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.