The CBOT was mostly red again on Wednesday with favorable rains in the Southern Plains pressuring wheat futures, which broke below technical support zones again today. Corn and soybeans were mostly lower as well, though the soybean market is starting to show some signs of stabilizing, as pressure from Brazil’s massive crops continues. Funds were net sellers again for the day and continue to pile into their massive short positions in wheat while steadily liquidating length from corn and the soy complex. There is little fresh news available presently, which means favorable Midwest weather and planting progress and a lack of daily export sales announcements are weighing on markets. Wednesday’s Statistics Canada report estimated th...
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.