THE OPEN November beans: 1/4 lower December meal: .70 lower December soyoil: 19 higher December corn: 1 lower September wheat: 3 1/2 higher The markets opened as expected with a firmer note in wheat on reported sales to China. Traders were back to buying oilshare and buying beans/selling corn into the report. Rains which moved through part of Iowa, Wisconsin, and northern Illinois with slightly cooler temperatures created morning long liquidation in beans while spurring more selling interest for corn. Bearish ideas before the report surfaced in corn which led to bean/corn and wheat/corn spread trade. The surprise of the report was mostly found in wheat, which was more bullis...
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.