The CBOT was mostly lower at mid-week with pre-WASDE position evening and consolidative trade being the primary feature. Funds tried to aggressively sell the KCBT wheat market in early trade but that attempt failed and the market ended with fractional losses for the day. Corn futures managed to push higher with the July contract finding short-covering support heading into the WASDE. Overall, ag futures remain range-bound heading into the May WASDE, which is generally expected to be bearish new crop corn, soybeans, and SRW wheat while being bullish KCBT wheat. Statistics Canada released its quarterly wheat stocks data yesterday and reported that 13.3 MMT of wheat were in storage as of 31 March. That figure was up 18 percent from 2022...
The U.S.-Mexico-Canada Agreement (USMCA) enters its mandated six-year review on 1 July. The original intent of the review is outlined in Article 34.7, which obligates members to: Provide recommendations and decide on appropriate actions. Extend the USMCA for another 16 years and meet aga...
Key Market Insights Geopolitical Limbo: Geopolitical risk remained a key driver across global commodity markets today. President Trump stated that the Iran memorandum of understanding is not yet final and warned that military action could resume if negotiations fail. Both sides continue w...
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.