THE OPEN November beans: 7 lower December meal: 2.10 lower December soyoil: 42 lower December corn: 1 1/2 lower December wheat: steady Prices opened as called with more profit-taking to begin the day trading session. Profit-taking was noted for the bean and soyoil markets, while corn prices dipped into commercial pricing activity. Wheat prices held in congestive trade. Day-3 of the Pro Farmer crop tour featured good results for Illinois crops, and conditions that were not as bad as some were expecting in Iowa. Iowa corn yields were estimated at 179.5 bpa in districts 1,4, and 7 vs. 187.8 bpa year ago, and vs. a 3-year average of 184.6 bpa. Bean pod counts averaged 1,11...
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.