The CBOT saw widespread two-sided trade on Tuesday with overnight gains fading quickly after the morning session opened. Markets eventually found a bid near mid-day, however, and corn, soybeans, and Chicago wheat all settled higher for the day. Funds were slight net buyers in those three commodities as world fundamentals continue to tilt to the bullish side. KCBT wheat was lower on the reversal of old long KC/short Chicago spreads with spring wheat also finding some pressure under better weather forecasts. There was little fresh news for the day and traders remain focused on exports, the 2023 Northern Hemisphere planting outlook, and the political outlook for the Black Sea grain export corridor. The major concern for the U.S. spring...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
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.