With the October WASDE now in the rearview mirror, the CBOT markets are starting to shift their focus to export trends and harvest progress. Friday’s trade, however, still saw lingering effects of the USDA’s report, mostly in that futures corrected some of Thursday’s rallies. Corn, soybeans, soymeal, and KCBT wheat all settled lower for the day while CBOT wheat and soyoil managed to follow though on Thursday’s gains. After reevaluating the fundamentals overnight, the CBOT seemed to cool off on Friday with a renewed focus on U.S. harvest pressure, though weekend harvest progress will be stalled by rain. Funds were net sellers for the day across most markets but were only lightly active. Commercial activity and bull sp...
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.