The CBOT saw another day of strength in wheat as funds continue to pare back their short positions in that market while commercial buying interest picked up, especially for HRW wheat. In contrast to the weakness observed earlier this week, the soy complex rallied across the board on a combination of technical buying and fresh export sales news. Corn was somewhat the laggard for the day with early gains being rebuffed by selling pressure, including greater marketing sales from farmers. Funds are thought to have been net buyers of 10,000 contracts of wheat and 6,000 contracts of soybeans, while selling 4,000 contracts of corn. The monthly Cold Storage report featured significant increases in both red meat and poultry stocks, with chicken and...
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.