The CBOT was broadly lower in quiet trading today with little fresh news to spark much activity. The markets are continuing to digest the U.S.-Japan trade agreement while simultaneously trying to discern whether there will be additional interest/follow through in U.S.-China trade discussions. The game now seems to be that of waiting for U.S. crops to finish maturing while watching the weather closely for signs of frost or freeze. The weather remains broadly favorable for finishing the 2019 corn and soybean crops as well as adding to soil moisture reserves for the 2020 wheat crop. The near-term forecast includes slightly above-normal temperatures with below-average precipitation. The 8-14-day forecast, however, shifts slightly cooler...
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.