THE OPEN July beans: 3 1/2 lower July meal: 2.50 lower July soyoil: 5 lower July corn: 5 lower July wheat: 1/2 lower The markets opened on a mixed note with prices turning both sides of even after a defensive PM session start. The corn sales announcements were likely already factored into current prices, allowing for longs to book profits even as buyers sought coverage. May options will expire at the close of business today, with first notice day one week from now. Political stories continue to filter into price action, with the Biden administration pushing US farmers to set aside 4 mln more acres of crop land for CRP, and biodiesel/biofuel stories remaining supportive. ...
What You Need to Know Today: Cattle futures extended their sharp selloff Friday as weakening cash cattle prices, deteriorating feedlot profitability, and reduced packer demand continued to weigh on the market. The inability of futures to sustain a rally following last week's bullish Cattle on...
As predicted, the Federal Reserve held rates steady at the last meeting before the midterm elections, likely in part because of the election (see WPI 19 October and 22 September). The decision comes at the tail end of a midterm election cycle that has been marked by the two parties campaigning...
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.