THE OPEN Nov beans: 3 1/2 higher Dec meal: 1.40 lower December soyoil: 60 pts higher December corn: 2 3/4 higher December wheat: 1 lower The markets opened as called but prices quickly drove higher as the beginning of the week brings with it warmer and drier temperatures. Short-covering, bargain hunting, and pricing activity drove prices upward, with soyoil futures having the largest gains. Canola prices remained locked limit on forecasts for continuing hot and dry weather in Canada's growing regions. At 10:00 export inspections were released as follows: beans: 200,933 mt vs. 208,136 mt week ago (vs. an expected 100-300,000 mt) corn: 993,974 mt vs. 1,236,248 mt...
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.