It was modest volume trading grain and oilseeds today. Again, the lack of any new fundamental news has traders keeping their powder dry. USDA’s May WASDE is likely to boost estimates for corn and soybean exports, but that is still nearly two weeks away. Instead, today’s input was USDA’s weekly Export Sales report. New wheat commitments were down substantially despite competitiveness with SRW the world’s cheapest. Sales of old crop corn slid again but were still respectively above 1 MMT. Moreover, new crop corn sales were at their highest in eleven weeks. Soybean sales rebounded with 139,400 sold to China after switching from unknown. China was also the primary destination for soybean exports last week. So...
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.