The CBOT received several pieces of key fundamental information on Tuesday, including updated production figures from CONAB, the results of the USDA’s Monday Crop Progress report, and fresh export sales of corn to Mexico. The result was that wheat popped higher on growing concerns for yields and production in the U.S. this year, while old crop corn saw support from the incredibly strong export pace. New crop corn and soybeans saw pressure from CONAB’s upward revision to their production estimates, which undermined the U.S. export outlook. Outside Markets Outside markets were mixed again on Tuesday with news that the U.S. and Iran could be returning to the negotiating table, driving the action. U.S. stocks were higher and f...
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.