GOOD MORNING, Prices inched higher this morning with beans, corn, and wheat hitting new highs for the move up. Wheat is in the lead today. Good weather continues to be balanced off by the current pace of bean buying from China. Reports from the country still point to good crops and plenty of production, while political tensions flare between China and the US. The demand pull from China for beans has driven November beans back over the $9.00 mark, but they may have trouble sustaining that level in lieu of rising negative rhetoric. Still, the nearby bean basis continues to head higher as commercials await new supplies from harvest. Nearby bean spreads remain strong, with August /Nov hitting a 6...
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.