The extreme movement of soybean prices first boosted grain prices, but ultimately pulled grains to lower closes as well. However, the grains were not traded in nearly the same heavy volume seen in the soy market. General Comments Fed Chairwoman Janet Yellen appeared before the Senate Banking Committee today, a session that was postponed on 13 February due to a threatening snowstorm. In her testimony, she acknowledged that economic data in recent weeks was weaker than expected, but there is no way to know how much of this might be caused by the bad winter weather. She also said that the Fed could slow its tapering down of the QE 3 stimulus program if necessary. Above all, she stressed that the Fed would maintain continuity with the policie...
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.