THE OPEN November beans: 4 higher December meal: 1.90 lower December soyoil: 37 higher December corn: steady September wheat: 7 3/4 lower Prices opened mixed with traders continuing to buy soyoil/sell meal, and buy corn/sell wheat. Beans were higher supported by stronger soyoil values. Soyoil continued to see support from higher crude, palm, and canola prices. Wheat futures traded At 10:00 export inspections were as follows: beans: 551,543 mt vs. 504,645 mt (vs. an expected 375-700,000 mt) corn: 716,127 mt vs. 840,796 mt (vs. an expected 700-1.15 mt) wheat: 500,110 mt vs. 544,010 mt (vs. an expected 450-675,000 mt) Inspections were neutral to bearish f...
What You Need to Know Today: China’s state-run COFCO, in statements on Tuesday, implied that U.S. corn exports were currently uneconomical but hinted that the Middle Kingdom would import 3.5 MMT of the feed grain this year, with 1 MMT likely sourced from the U.S. Another drone attack has...
Tanker-tracking data shows a smaller recovery in oil flowing through the Strait of Hormuz than previously thought. Energy Secretary Chris Wright, speaking by video to an international energy conference in Riyadh, Saudi Arabia, said that oil moving through the strait was back to 80 to 90 percent...
Key Takeaways: While soybean, palm, sunflower, and rapeseed oils dominate global vegetable oil markets, premium oils such as olive, avocado, coconut, and sesame command substantially higher prices due to their distinctive flavors, nutritional characteristics, and specialized culinary uses.. Ol...
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.