Yesterday afternoon's weekly crop condition report set the tone for today's corn market. The 76 percent good/excellent rating so late in July along with 56 percent of the crop in the silk stage (average is 55 percent) and the favorable weather are all maintaining the crop's outstanding prospects. General Comments There was an effort to generate a Turnaround Tuesday rally overnight, but even though USDA reported some soy product sales under the daily reporting requirements this morning, the rally soon ran out of steam – another way of saying that the market ran out of buyers. We have commented before about the plain lack of buyers in the current bearish environment. It goes without saying that there cannot be a price rally if buyers aren't...
What You Need to Know Today: Chinese purchases of U.S. soybeans continued to accelerate, with USDA reporting another 558 KMT sold to China and 236 KMT to unknown destinations. Combined with sales announced Wednesday and Thursday, the latest purchases bring the three-day total to approximately...
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.