Chicago futures saw the December corn contract lose 8.5 cents today and November soybeans lost 10¾ cents reportedly based on uncertainty about exports out of the Gulf due to damage from hurricane Ida. There was notably less concern in 2005 about exports out of NOLA when hurricane Katrina hit the region. Chicago futures remained steady for several days after the storm. Commentary at the time focused on how the moisture moving northward from the storm would help to finish summer crops. There was discussion immediately post-Katrina about adverse impacts on the cotton crop in the deep south. There has been similar discussion the past two days about the Delta’s cotton crop being at a critical maturation stage. However, ICE De...
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.