The CBOT was mostly higher for the day with each of the major markets rallying based on different sets of fundamental reasons. Corn was the decided upside leader as the 14-day forecast remains hot and dry for the central and Eastern Corn Belt. The shift towards persistent dry weather is contrary to what models predicted just a month or so ago, which at the time motivated the selloff in corn futures. Now, short positions are being closed as the weather market develops. Wheat followed the corn market higher and received a bit of bullish news of its own from Russia’s renewed (or continued?) efforts to stifle execution of the Black Sea grain export deal. There’s not really a shortage of wheat without Black Sea shipment...
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.