GOOD MORNING, Prices were higher overnight after dropping to new trading range lows for soyoil due to an unexpected wire service report that the EPA would recommend that biofuel mandates should be below 2020 due to less miles traveled. The agency subsequently announced that they could raise it back in 2022 but the damage was done as corn and soyoil were hit hard. Since surprises offer the biggest bang for the buck to the markets, the soyoil futures market took a downward trajectory, taking beans along for the ride last week. Buy meal/sell soyoil trade was noted on Friday, though it appears that there could be interest in oilshare ownership at lower levels. Soyoil enjoys a very healthy bounce overnight leading beans...
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.