Tuesday’s CBOT trade was all about declining crop conditions and crop tour yield estimates. Both were supportive factors, which sent corn 4+ percent higher by the close and soybeans up nearly 2 percent by the day’s end. The ProFarmer tour finished up its assessment of corn yields in the western Corn Belt, notably South Dakota and Nebraska, where heat and dryness pared production potential significantly. That elicited a positive response from the corn market and funds jumped onto the long side of the trade. Soybeans lacked the same fundamental impetus but rallied on a hotter, drier forecast for the U.S. this week and next, along with persistent bull spreading and physical demand. Outside markets were mixed with U.S. stocks...
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.