The CBOT once again opened as called with strength across the board. At one point this morning, every major ag commodity was in the green. By day’s end, however, corn, soybeans, and soymeal were able to maintain their strength while wheat, soyoil, and the livestock contracts turned lower. New trading highs were posted in corn, KC wheat, and soymeal. Funds were net buyers in corn, soybeans, and Chicago wheat. A report from Bloomberg cites Chinese officials as saying they have “no plans” to intervene amid the surge in corn prices. Corn prices in China have rallied sharply as the country suffered fall army worms, flooding, and typhoons. Officials say the harvest is reportedly 80 percent complete and will be finished by...
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.