After sharp losses earlier in the week, the market turned around today for everything but July corn. Egypt’s GASC paid a record sum for wheat, indicating prices will remain elevated and enabling a push higher today for futures. Ukraine says it continues to work with the UN and others to export its grain via the Black Sea, but the prospects seem bleak. Today’s gains do not come close to erasing the even sharper losses of the two earlier trading sessions. July corn has now scored losses in three straight sessions, though there were gains today in the deferred. The July contract was beaten down as funds reversed an earlier long corn/short soybean position. However, demand remains strong and therefore so does basis, making o...
What You Need to Know Today: U.S. launches naval escort operations in the Strait of Hormuz as Iran attacks UAE oil infrastructure, escalating geopolitical risk and supporting energy and broader commodity markets Biofuel demand entering uncharted territory, with soyoil valuation increasingly di...
The Middle East is said to be undergoing a transformation as economic priorities transcend security concerns. This is evidenced by diversification away from oil and the UAE’s departure from OPEC. Meanwhile, the Palestine issue has been deprioritized, and Iran has emerged as more destabili...
All eyes are shifting to the Senate following the House passage of a farm bill last Thursday. Senate Agriculture Committee Chair John Boozman (R-Arkansas) is targeting the end of May or early June for a bill markup. According to Boozman, the House “going ahead and passing something was re...
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.