GOOD MORNING, Prices took a turn lower as selling surfaced in Minneapolis wheat as rains crossed areas of Canada and the Great Lakes region. Minneapolis Sep. wheat travels 60c off the highs on Monday. Canola futures are lower as well, taking soyoil prices down with it. Profit-taking was noted as prices have rallied hard over the last several weeks to new contract highs. Corn prices could not move over the gap area, leaving it for now as technical resistance. The eastern Corn Belt old crop corn basis is fading. Calls today are lower across the board as trading ranges continue. WEATHER --Drier weather in the eastern Corn Belt is welcome as areas have been too wet. Farmers like and...
What You Need to Know Today: The U.S. and Iran reportedly agreed to pause hostilities to allow vessels to transit the Strait of Hormuz this week (theoretically, at least). There were some rumors of a possible Chinese blockade against Taiwan. Analysts are looking for the largest U.S. 1 June cor...
Proposition 12: The National Pork Producers Council (NPPC) has advocated for a fix to Proposition 12, the California animal welfare law, in the Senate farm bill. The House version of the farm bill included a fix, but the Senate bill, based on the discussion draft released by Chairman John Boozm...
Key Takeaways: Indonesia will raise its biodiesel mandate from B40 to B50 on 1 July, increasing palm oil–based diesel blending to 50 percent. The policy supports domestic palm oil demand and reduces reliance on imported diesel. Indonesia’s biodiesel program has steadily expanded si...
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.