There was a lot of red today but not as much as at the start of the session. There was profit taking off recent highs with end users taking advantage of these market breaks. Everything stayed within the new higher market ranges but only soybeans, soyoil and feeder cattle raised their game from a day earlier. Rumors of Chinese purchases of corn and soybeans were supportive, but lack of confirmation was not. Also bearish were scattered showers in Brazil. With so many records being set it is reasonable to test what may be overbought and to lighten the load. The weekly Energy Information Agency report on ethanol was reasonably bearish. Last week’s production fell 1.6 percent as distillers tried to unwind the squeeze between higher...
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.