THE OPEN November beans: 5 3/4 higher December meal: 1.90 higher December soyoil: 23 higher December corn: 2 3/4 higher December wheat: 3 3/4 higher The markets opened as expected with further gains in oilshare and profit-taking in wheat. Buy corn/sell wheat and buy soyoil/sell meal spread trade dominated all day. There was no doubt macro-spillover as outside markets opened strongly on higher Chinese stock markets as well as further advances in the treatment of Covid-19. Position-evening was also noted for much of the day, as funds covered in more short positions and took profits on a higher bean market. Cleaning up of September positions was also a mechanical trade as...
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.