Markets were lower overnight as traders took some profits off the table following recent gains. CBOT markets opened lower this morning with some modest profit taking but mostly under a lack of additional fundamental news with which to justify higher prices. Short covering helped prevent any major backsliding in futures values and the general tone of the day was that of expected readjustment following this week’s rally. News broke today that Argentina’s government – which has held office for just 8 days now – increased the export tax on grains from 12 percent to 15, and the soybean export tax to 33 percent. The policy changes in Argentina should continue to be supportive for U.S. soybean, soyoil, and soymeal ex...
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.