Ten days ago, virtually every weather outlook for August looked threatening. However, changes in weather models that started last week have softened the market's view. One issue remains, though, and there are plenty of opinions. Ten days ago, virtually every weather outlook for August looked threatening. August is, after all, the most important month for soybean yield development. The six-10 and eight-14 day forecasts were still looking hot and dry for most of the western Corn Belt and northern Plains. The National Weather Service’s long-lead forecasts of 20 July were also calling for above-normal temperatures with normal to below-normal rains for the same specified areas.All those weather models started to change last week with below to mu...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Key Market Insights Macro markets delivered a full whipsaw today. Early in the session, crude oil had rallied back above $100/barrel as traders priced renewed concern over the U.S.-Iran standoff and potential supply risk through the Strait of Hormuz. That strength helped pull grains off their o...
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.