The CBOT ended the week on a mixed note with wheat and soybeans grinding lower while corn saw mild strength. The big movers for the day were soymeal, which scored new contract highs not once but twice, and soyoil, which plunged lower amid a crude oil selloff. There was a strong sense of profit taking in markets other than soymeal and an air of caution as many markets are at or approaching major technical resistance levels. After a volatile week, traders had limited appetites for new risk and trading was generally a low-volume affair. This week’s trade took corn, soybeans, wheat, and soyoil to major technical support or resistance levels heading into Wednesday’s WADSE report. That means the report could have a larger-than-n...
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.