General Comments The markets opened steady to higher Sunday based on less-than-expected rainfall across Argentina and a basically dry, warm forecast throughout this week. Soybeans eventually traded as much as 20-22 cents higher with corn 5-6 cents higher and wheat 7-9 cents higher. That all started to change at midmorning when wheat turned lower. That, in turn, dragged corn lower and brought soybeans well off their highs. Some blamed the weakness in corn and wheat on spread selling against long soybean positions, in addition to crude being down hard (more than $1.50) and the dollar index gaining nearly 0.5 percent.U.S. financial markets were also struggling after closing above 14,000 last Friday. A poor manufacturing index number plus...
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...
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.