THE OPEN Nov beans: 2 1/4 higher Dec meal: .80 higher Dec soyoil: 9 higher Dec corn: 1/4 higher Dec wheat: 4 1/2 lower The markets opened as called with soy complex values higher and wheat prices weighing on corn. The commitment-of-trader's report should now show funds short across the board. Major trends were that of buy soy/corn and buy soyoil/sell meal. In the fundamental world, more trade estimates were released today that were price negative for corn, with beans more than willing to follow lower. IEG Vantage, formerly called Sparks, forecast the following in front of the Sep USDA report: Corn: yield at 169.6 bpa and production at 13.857 bln bu vs. 13.847 bln bu prev. e...
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.