MARKET REACTION Corn prices sharply lower down 6 percent, taking wheat along for the ride, bean losses tempered with lower than expected acreage. Corn yield and production at the higher end of trade expectations at 169.5 bpa and 13.9 bln bu production, over the higher end of estimates. Bean yield and production at the higher end of trade expectations at 48.b bpa and production at 3.68 bln bu 19 percent lower than year ago. All wheat production at 1,980 mln bu, towards the higher end of trade expectations. WASDE confirmed 90 million acres of corn planted and 76.7 million acres of beans. The corn acreage is only 1.7 million acres lower than the June report. Reaction was most bearish for corn, which broke to...
From WPI Consulting
Illuminating the value of technical research
On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.