THE OPEN November beans: 2 lower December meal: 2.50 higher December soyoil: 32 lower December corn: 5 1/2 higher December wheat: 7 higher The soy complex opened as expected with prices trending firmer at the start of the session. Spreads were firmer as well as new business was announced for beans this morning, with speculation that some corn was also done. Profit-taking in oilshare continued throughout the session. Later in the session another private estimate was released forecasting its corn production at 14.794 bln bu, with a yield of 176.16 bpa. Bean production was forecast at 4.284 bln bu, with a yield of 49.5 bpa. The lower yield was in acknowledgment of adverse...
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.