Rain across the Northern Plains and Upper Midwest on Wednesday helped push the CBOT lower with wheat leading the way. Nothing has changed about the near-term forecast, which remains scorching hot and mostly dry across the Southern Plains and Corn Belt, but the 6-10-day forecast is mixed with better probabilities of normal rains for the Midwest. As discussed in the corn futures section of this report, however, there is little agreement between models and some still predict two solid weeks of hot, dry conditions. Also helping push the CBOT lower for the day was a lack of attacks by Russia on Ukrainian infrastructure while the EU continues to work to secure export routes for Ukraine’s products. Overall, it was largely a day of corrective...
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.