The CBOT was mostly flat in quiet trade to end the week with traders showing little concern for a weekend of hot, dry weather for most of the crop-growing U.S. Corn and soybeans managed to find their way to modest gains on short covering and some reaction to the weather, but wheat futures ended lower again after volatile trade and soymeal markets collapsed below technical support. Trading volume was relatively light for the day with few wanting to add risk heading into the long weekend. Next week’s trade will likely be heavily dependent on the crop conditions data, how the weekend weather develops, and what Monday night’s weather forecasts call for the coming week. WPI looks for corn and soybeans to remain supported by the weath...
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.