Most of the board traded in the red to start today’s trading session. There is too much corn and soybeans and not enough prospective buyers. All three major wheat contracts hit new lows today. Except for corn, major contracts are bearishly trading below major moving averages. Grower groups have begun warning about severe financial stress because of low prices. However, late in the session some saw buying opportunities and turned corn and the soybean complex higher by the close. There was no such mercy for wheat. Reports EIA Ethanol Output: The Energy Information Agency reported that ethanol production last week at 1.075 million barrels per day was up 5,000 barrels per day week-on-week, and up 14,000 barrels per day or 1.3...
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.