THE OPEN January beans: 1 lower December meal: 1.20 lower December soyoil: 20 lower December dorn: 3 lower December wheat: 6 lower The market opened lower as called with more selling again. Oilshare was weaker as meal prices bounced back from early losses on continuing solid crush margins, while soyoil lost its stabilizing mojo due to its affiliation with weaker energies. Wheat prices lost to corn, while beans seemed to lose to corn for much of the morning. Corn was able to bounce back from morning export sales, but nervous longs were also there to sell small bumps upward. In morning announcements, the International Grains Council (IGC) forecast corn production down 4...
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.