THE OPEN Nov beans: 8 lower Dec meal: 1.00 lower Dec soyoil: 50 lower Dec corn: 3 lower Dec wheat: 12 lower The market opened weaker and printed new lows before finding some pricing, bargain hunting into the report, and more short-covering. Corn prices reversed higher from lower while soyoil and wheat prices labored. The acreage numbers, which were released early, weighed on futures in the PM session with follow-through negativity for the day. Some analysts theorize that the acres could actually grow a bit once all farms report. Brazil's CONAB trimmed its estimate for the countries' total corn and bean crops in its final report. CONAB reported that farmers produced a record 135.9...
What You Need to Know Today: American and Mexican officials met Tuesday and will meet again Wednesday for another round of trade talks, where ag and energy will be a key topic. Another round is scheduled for 20 July. Ag groups are urging President Trump to renew USMCA for another 16 years, but...
Since the first U.S. case of New World Screwworm (NWS) was confirmed on 3 June, USDA has confirmed 12 cases. The latest was confirmed in a sheep on 12 June, with four additional cases confirmed in Texas on 11 June, three in cattle and one in a goat. The New Mexico case confirmed that the infect...
Key Takeaways: China has invested heavily in the Port of Chancay to strengthen trade links between South America and Asia. The port could reduce shipping times to China by up to two weeks and improve export competitiveness. Inland transportation infrastructure remains the primary obstacle to r...
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.