The CBOT was mostly lower on Tuesday as the strong planting progress reflected in Monday’s Crop Progress data eased many lingering concerns about the U.S. 2023 spring crop outlook (except for spring wheat). That, combined with a surprise cancellation of corn export sales, sent CBOT futures lower with funds again emerging as cautious net sellers. KCBT wheat and the livestock markets were the only major contracts to see significant gains with drought and smaller production forecasts driving the wheat market higher while better support in the cash markets supported livestock futures. It looks like this week’s pre-WASDE trade will be more volatile than usual with wide-ranging forecasts for the new crop balance sheets. Analysts and...
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...
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.