Wheat futures led the CBOT higher heading into the July WASDE after Russia launched 22 drones overnight at Ukraine’s Odesa grain terminal. Ukraine’s air defenses defeated all the drones, but two hit administrative buildings and debris from downed drones started two fires at port terminals. Russia’s actions cast further doubts on the renewal of the export agreement and also on Ukraine’s ability to keep supplying grain to its export markets. Corn futures saw a bit of support from the wheat rally but also plenty of pressure from the partial recovery in crop conditions in Monday’s report. Soybeans were higher on expectations of a tighter supply and demand picture in the July WASDE report as well as the persistently...
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.