Corn According to the Buenos Aires Grain Exchange, Argentina’s corn harvest reached 98.5 percent with a total collected volume of 49.5 MMT. This means the final production estimate will be 50-50.5 MMT, above the 48 MMT estimated a few weeks ago and close to the 51-MMT trade estimate. Upriver ports are flooded with corn as vessels continue to load below-normal volumes. Consequently, the vessel lineup at south ports is still big (1.1 MMT) with waiting times over 10 days. With port storage full, exporters are only receiving a small number of trucks per day and the volume is from old contracts. They are still not able buy with prompt discharge. Farmers are getting nervous as they need to deliver to receive revenue and avoid...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Key Market Insights Macro markets delivered a full whipsaw today. Early in the session, crude oil had rallied back above $100/barrel as traders priced renewed concern over the U.S.-Iran standoff and potential supply risk through the Strait of Hormuz. That strength helped pull grains off their o...
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.