The CBOT started the day with a higher tone after Russia confirmed that it will be leaving the Black Sea export corridor agreement, which ended Monday, 17 July. The markets followed a classic “buy the rumor, sell the fact” trading pattern and ended lower after fears of grain supply issues subsided. The focus for the day’s trade seemed to quickly shift towards estimating the U.S. crop size and looking at the slow pace so far of U.S. wheat exports. Funds were net sellers for the day in corn and wheat but cautiously expanded soybean longs. The Black Sea export corridor agreement has unofficially ended almost a year after it started with Russia refusing to renew the deal before the 17 July deadline. Moscow repeatedly th...
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.