THE OPEN July beans: 46 lower July meal: 9.50 lower July soyoil: 340 lower July corn: 26 lower July wheat: 21 lower Prices opened lower as expected, hitting low end price targets before seeing some short-covering and stabilizing trade. Oilshare firmed again with spreads firming as well. End-users were noted taking advantage of this extreme weakness in order to get something covered. Many other soft commodities such as sugar were also lower. At 10:00 export inspections were as follows: beans: 128,092 mt vs. 239,384 mt week ago (vs. an expected 150-300,000 mt) wheat: 480,341 mt vs. 493,638 mt week ago (vs. an expected 275-500,000 mt) corn: 1,5...
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.