General Comments Markets were mixed overnight, but corn and soybeans turned decidedly bearish when they re-opened at 8:30 this morning. Evidently, the trade decided that weather heading into the weekend posed no threat to yields. There is no heat dome in the extended forecast model runs, but there is also little rain for the western half of the Corn Belt, especially the far western areas. The Global Forecast System (GFS) noon model did increase the potential for rain in this region from 19-21 July. Together with the time frame, that added to the selling pressure in corn and soybeans.USDA announced the sale of 960,000 MT of corn to China, which might be the biggest corn export sale in over a year. Today was the last trading day for the...
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.