The CBOT largely continued Friday’s Russia-induced rally with help from another weekend of terrible weather for crops in Argentina. Soybeans and soymeal started out strong Sunday night and pushed higher with corn and wheat in tow. That dynamic changed through the day session, however, as the soybean rally faded and corn and wheat futures pushed higher. Wheat futures continue to see support from short-covering and talk about a smaller global wheat crop in 2023 (thanks largely to Russian production). Even livestock futures got in on the rally with cattle and hog markets posting strong gains. The CFTC’s data release is still delayed but speculation is that funds are now even wheat futures or slightly long and are continuing to enla...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
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.