Despite Friday’s bullish, post-WASDE turnaround, the CBOT posted steep losses on Monday with corn and soybeans leading the way. Ag futures markets were largely under pressure from favorable U.S. weather over the weekend and China’s poor economic data. Corn and wheat recovered some of their losses heading into the close, but soybeans and the broader soy complex struggled to find much support. Funds were net sellers for the day, but the low-volume nature of Monday’s trade suggests they have still expanded their net long in corn and soybeans after Friday’s buying. The weekly Export Inspections report was bearish all three commodities, with inspections falling from the prior week and missing their target volumes...
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.