The CBOT was mostly lower to start the week with Friday’s WASDE confirming that, without a weather event in the Northern Hemisphere this summer, corn and soybean supplies will be ample. Additionally, good odds for precipitation across the U.S. Corn Belt as corn approaches peak pollination pressured futures. Corn and soybeans saw the greatest selling pressure while wheat futures traded lower but lacked the conviction of the summer crops. The U.S. weather pattern holds good chances of rain for the Corn Belt and eastern/Upper Midwest over the next two weeks. Notably, the Southern Plains will remain dry with excessive heat, which could damage corn yields in that part of the country. Overall, however, the weather forecast remains fa...
What You Need to Know Today: China’s state-run COFCO, in statements on Tuesday, implied that U.S. corn exports were currently uneconomical but hinted that the Middle Kingdom would import 3.5 MMT of the feed grain this year, with 1 MMT likely sourced from the U.S. Another drone attack has...
Tanker-tracking data shows a smaller recovery in oil flowing through the Strait of Hormuz than previously thought. Energy Secretary Chris Wright, speaking by video to an international energy conference in Riyadh, Saudi Arabia, said that oil moving through the strait was back to 80 to 90 percent...
Key Takeaways: While soybean, palm, sunflower, and rapeseed oils dominate global vegetable oil markets, premium oils such as olive, avocado, coconut, and sesame command substantially higher prices due to their distinctive flavors, nutritional characteristics, and specialized culinary uses.. Ol...
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.