The CBOT ended the week on a mixed note with wheat and soybeans grinding lower while corn saw mild strength. The big movers for the day were soymeal, which scored new contract highs not once but twice, and soyoil, which plunged lower amid a crude oil selloff. There was a strong sense of profit taking in markets other than soymeal and an air of caution as many markets are at or approaching major technical resistance levels. After a volatile week, traders had limited appetites for new risk and trading was generally a low-volume affair. This week’s trade took corn, soybeans, wheat, and soyoil to major technical support or resistance levels heading into Wednesday’s WADSE report. That means the report could have a larger-than-n...
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.