General Comments USDA's Farm Service Agency (FAS) released its acreage data collected from farm program compliance and crop insurance at 5 AM EDT, in time to catch the last portion of the overnight session. The market was expecting numbers suggesting that USDA's estimates will be lowered in the next WASDE due on 11 October, so grain and soy prices were already higher when the acreage data was released. The FSA numbers did not disappoint. They were widely interpreted to mean that USDA would lower its October estimates of planted and harvested acreage and presumably its production estimates, too.This was enough to carry the price rally over into the day session, but by mid-session the market ran out of steam. Selling, lead by funds, wipe...
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.