The markets started the day mixed with soybeans higher on rumors of Chinese purchases, corn and soyoil lower, and wheat futures moving higher. Minneapolis wheat continues to show amazing strength that has had a moderately supportive effect on SRW wheat as well. The weather remains broadly favorable for crops in the coming week with above-average temperatures for the Corn Belt and above average precipitation for the western Corn Belt. Unfortunately, Montana and eastern North Dakota will also receive abnormally high rain fall that will likely delay the spring wheat harvest further. The 8-14-day forecasts shows cooler temperatures entering the northern Rockies/northern Plains/Upper Midwest starting in October, though the bulk of the Cor...
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.