THE OPEN July beans: 1 3/4 higher July meal: .80 lower July soyoil: 13 higher July corn: 2 1/2 higher July wheat: 5 3/4 higher The markets opened as called with oilshare working higher as meal charts placed new ctr lows. Beans gained on corn as prices traded closer to the report hour, suggestive of perhaps the reaction after the numbers would be released. Post report corn prices firmed as funds covered in some of their overall short positions. Beans maintained its rally as well, with meal prices finding some support on commercial pricing activity. At 11:00, the April numbers were released as follows: WORLD PRODUCTION (million metric tons) 2019-20 ...
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.