GOOD MORNING, Prices remain in trading ranges as weather turns hot with big storms across the Northern Plains. Prospects are looking better and better for US corn as recent rains could solidify trendline yields, currently forecast at 178.5 bushels/acre. Black Sea wheat futures for Sep. are at the highest levels since January as Russian production forecasts continue to decline. Cash markets remain firm. Look for this to continue to support wheat on market pullbacks. Soyoil futures work back towards recent highs as crude firms and palm hits monthly highs. Seasonally both these markets have positives moving forward. In terms of reports we get the EIA ethanol stats in the early session, a...
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.