The September WASDE is typically one of the most volatile reports of the year with USDA’s “objective yield” assessments of corn and soybeans prone to elicit strong market reactions. This year was no exception as the market misjudged USDA’s plans for the soybean yield and ending stocks, and had to scramble to rally and ration new crop demand in light of the new information. Soybean futures ended 76 cents higher for the day and are technically poised to rally further. Corn futures posted 9-13-cent gains as well and are also ready to challenge key technical resistance levels. USDA didn’t change its expectations for the 2022/23 wheat crop and that market generally drifted lower amid some pressure from bull corn or...
From WPI Consulting
Illuminating the value of technical research
On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.