THE OPEN July beans: 5 higher July meal: .50 lower July soyoil: 35 higher July corn: 2 3/4 higher July wheat: 6 1/4 lower Prices opened as expected with corn and soyoil prices higher on the back of firmer crude oil at the open. However, only one of them stayed higher on a consistent basis through-out the day, which was soyoil. Oilshare was higher as traders bought soyoil/sold meal. Funds were liquidating more long positions in wheat, as weather turns neutral from bullish. Solid exports for beans in tomorrow's report is price supportive, with the USDA confirming purchases of US beans at roughly 800,000 mt for the past week. A higher US dollar works against wheat sales, a...
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.