Today was all about the WASDE and the lack of an anticipated bearish surprise from USDA sent the CBOT higher by the close. Near-term, it is likely that harvest lows have been forged in the corn and soybean markets. The key story from the WASDE was larger U.S. and world production and supplies for corn and soybeans and, to a lesser extent, wheat. USDA raised U.S. corn planted and harvested area and pegged a near-record yield of 176.3 BPA. Production is forecast at 14.996 billion bushels, just shy of the all-time high. USDA increased the soybean yield but lowered its harvested acreage estimate on drought in the western Corn Belt. Still, soybean production grew 35 Mbu and added 30 Mbu to ending stocks. Notably, USDA increased its forec...
Russian Grain Markets: 29 June-3 July 2026 The new marketing season has officially begun in Russia, although bearish sentiment has been concentrated in the southern regions closest to the Black Sea ports, where export demand has been weakest. Delays in grain deliveries to inland elevators have...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
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.