Last week, soybean trading saw a lot of activity, particularly with Brazilian old crop shipments and increased movement in U.S. new crop sales. CNF China trade levels began at 240X for the PNW and 255X for the U.S. Gulf, rising rapidly due to several factors. A drop in Chicago futures triggered a reaction in Brazilian basis values, with limited soybeans available in Brazil. Brazilian farmers have been defending the basis by maintaining offers at high levels. As a result, U.S. exporters increased their offers, following Brazil but at lower levels. The week ended with offers for U.S. Gulf soybeans at 270X and PNW at 260X for November, while Brazilian soybeans reached nearly 300X with limited availability. Further price increases may occ...
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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.