It was interesting that corn’s losses were being blamed on a better weather outlook, but that same forecast didn’t push soybeans lower. The soy complex was trading on the positive side almost the entire session, but a development at the close caused soybean and soyoil futures to finish down. General Comments Corn opened 8-9 cents lower in the Sunday evening session and held most of those losses through today. The Sunday forecasts looked cooler but mostly dry over the next six-10 days (see maps below). There is some chatter about another heat wave, currently across the southwestern U.S. and then progressing into the Midwest at some point. Trading volume overnight was big, especially in corn. Wheat was steady to slightly higher overnight wi...
What You Need to Know Today: The U.S. conducted “self-defense strikes” in Iran and said the two sides are “close” to negotiating a ceasefire. “Close” is a relative term, however, and even if 95 percent of the terms are agreed to, the remaining 5 percent is l...
As we reported on 19 May, China has also committed to the resumption of U.S. poultry imports from states without confirmed HPAI detections. USDA’s Animal and Plant Health Inspection Service (APHIS) has updated its China export restrictions webpage to reflect that China has lifted HPAI-rel...
Key Takeaways: Brazil has been the second-largest producer of fuel ethanol globally, but almost all of it was derived from sugarcane until recently. Corn ethanol production has increased due to expanded second-crop corn production, sugarcane storage limitations, and biofuel policy. Brazil is e...
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.