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feed-grains soy-oilseeds wheat

Market Commentary

Lower volume and minimal price changes were featured during the overnight session, which is using the word feature very loosely. Winter wheat futures were up less than 2 cents, corn was about unchanged, and soybeans were down a penny. CME’s final count of corn open interest (O/I) from Wednesday showed a gain of nearly 9,000 contracts, bringing the increase for the first three days of the week to about 46,000 contracts. Total corn O/I now exceeds 1.7 million contracts, the highest volume in several years. Funds are no doubt on at least part of the short side. The question is if funds are not short covering, who is buying corn futures? The sheer cheapness of corn futures prices may have enticed some buying from index funds, but that is...

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feed-grains soy-oilseeds wheat

Summary of Futures

Mar 26 Corn closed at $4.3125/bushel, up $0.0375 from yesterday's close.  Mar 26 Wheat closed at $5.525/bushel, up $0.1525 from yesterday's close.  Mar 26 Soybeans closed at $11.3725/bushel, up $0.1325 from yesterday's close.  Mar 26 Soymeal closed at $307.9/short ton, up $4.9 fr...

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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.

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