Yesterday afternoon's weekly crop condition report set the tone for today's corn market. The 76 percent good/excellent rating so late in July along with 56 percent of the crop in the silk stage (average is 55 percent) and the favorable weather are all maintaining the crop's outstanding prospects. General Comments There was an effort to generate a Turnaround Tuesday rally overnight, but even though USDA reported some soy product sales under the daily reporting requirements this morning, the rally soon ran out of steam – another way of saying that the market ran out of buyers. We have commented before about the plain lack of buyers in the current bearish environment. It goes without saying that there cannot be a price rally if buyers aren't...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Key Market Insights Macro markets delivered a full whipsaw today. Early in the session, crude oil had rallied back above $100/barrel as traders priced renewed concern over the U.S.-Iran standoff and potential supply risk through the Strait of Hormuz. That strength helped pull grains off their o...
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.