THE OPEN May beans: 4 1/2 lower May meal: 1.20 lower May soyoil: 3 higher May corn: 1 1/2 higher July wheat: 8 lower Prices opened as expected but more selling pressure was noted across the board as funds continued to put on sales with early morning technical weakness. The soy complex was under pressure following the good break in Chinese markets, as processors who have been concerned about tightness are finding bean supplies from Brazil getting through ports, with more supply on the way. Corn traded lower with Dec. contracts posting a new low on bearish technicals. Wheat prices saw long liquidation on the cancellation of Egyptian business and weaker export sales. In the early mor...
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.