General Comments Futures started out lower in overnight electronic trading, but it did not take long for support to develop. When corn and soybean prices pushed through resistance at $7.35 and $14.60, respectively, chart-following funds took notice. The overnight strength continued today. It was one of those times when fundamental considerations and technical chart signals coincided with soybeans leading the way.The fundamental considerations involved drier forecasts for Argentina and southern Brazil. The GFS model has gradually reduced the amounts and the coverage of the weekend rain it foresees. It is now calling for amounts of about a half-inch or less with 50-55 percent coverage. This is down from an inch or more and 85 percent cover...
Yesterday, Alberta held a referendum on whether to begin the process toward independence from Canada. With more than one million votes counted as of early Tuesday morning, around 77 percent supported remaining in Canada, and 23 percent voted to start the process of separation, according to unof...
Mediterranean/Middle East/North Africa/Africa – MEA Region Pakistan’s smaller wheat farmers have been holding protests to complain about the lack of a support price for wheat and the potential expansion of GMO crop production. They also want the reinstatement of PASSCO, the governme...
What You Need to Know Today: Harvest pressure in the U.S. sent corn and soybeans lower as supplies increased and there were signs USDA’s upward revisions to yields in the October WASDE could be close to right. The conflict between Russia and Ukraine escalated over the weekend, with Ukrai...
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.