The CBOT was mixed once again with row crops mostly steady unenthusiastic trade as the market awaits the Iowa and Illinois Pro Farmer tour results. Wheat futures were higher overnight on rumors of sales to China but dipped this morning when USDA did not confirm such sales. Afternoon buying interest eventually pushed wheat 4-7 cents higher by the close. Funds were modest sellers of corn and bought a small volume of soybeans while buying some 5,000 contracts of wheat. China once again secured U.S. soybeans for 2020/21 delivery, with USDA reporting a daily “flash” export sale of 192,000 MT sold to the country. USDA surprised the market as it did not announce the sale of U.S. HRW wheat to China, trades of which had been widel...
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.