THE OPEN May beans: 4 1/4 lower May meal: 1.10 lower May soyoil: 3 lower May corn: 1/4 lower July wheat: 3/4 higher Prices were subdued heading into today's Planting Intentions Report. Funds headed into the numbers net short corn, slightly long wheat, long meal, with neutral positions in beans/meal. Buy beans and wheat/sell corn trade dominated into the numbers, with unwinding of recent buy meal/sell soyoil spreads. It has not been unusual for corn prices to trend lower into the last several reports, and today was no exception, with traders expecting higher acreage. After the report, prices more or less stabilized in corn as values headed towards contract lows, suggesting the typic...
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.