General Comments It was the wheat market's day. Wheat futures were up as much as 17-18 cents at their highs, in a move that began during the overnight session and continued today. The CME December wheat close of $6.705, up 12.25 cents, is its highest since the beginning of August. The December contracts for both KC and MGE wheat closed up over 13 cents. The traditional premium for MGE spring wheat futures over KC hard red winter wheat (HRW) futures has all but disappeared, and the 2 December contracts are close to even money. Strong export demand and a very firm HRW cash market has supported KC while better hard red spring (HRS) yields and a likely increase in estimated production has pressured MGE.The triggers for today's strong wheat...
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.