The CBOT ended mixed in low-volume trade before the long U.S. holiday weekend. Corn futures turned slightly lower while soybeans and wheat traded to modest gains. Spread trade was active and there seemed to be little interest in taking, or adding to, flat positions. The markets are likely to remain range-bound and quiet before the trade gets an updated look at USDA’s 2021/22 forecast in the annual Ag Outlook forum later this month. Brokers estimate funds sold some 6,000 contracts of corn today along with 5,000 contracts of soybeans. Funds are thought to have bought 6,500 contracts of wheat ahead of a weekend with poor weather for the U.S. winter wheat growing region. Bitter cold is forecast for the U.S. for the coming week that...
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.