THE OPEN July beans: 1 higher July meal: .40 higher July soyoil: 2 lower July corn: 1 1/4 lower July wheat: 5 1/2 lower The board opened today with an air of caution and mostly quiet activity as traders prepared for what the USDA would have to say at 11:00 central time. The expectation for a bearish corn report spilled over into beans despite an opening sale to China. Production projections for corn were based off the March Prospective Plantings and acreage expectations. That acreage was put at 96.99 mln for corn, using a 2020 yield of 178.5 bpa, and production at 15.9 bln bu. Over the last twenty years, the final planted corn acreage decreased over 3 mln acres only once from March inten...
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.