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...
What You Need to Know Today: U.S. weather is getting more attention this week as conditions vary greatly across the western, central, and eastern corn belts, with the different regions battling dryness and too much rain simultaneously. The ProFarmer Crop Tour began today in Indiana and Nebrask...
Key Takeaways: Argentina is on pace for a record corn crop and record exports in the current marketing year, with abundant supplies likely to keep the country highly competitive in global export markets. Argentina’s record exportable surplus is allowing it to offer highly competitive pri...
Illuminating the value of technical research
On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.