NOTE: LCF will be closed May 28. THE OPEN July beans: 7 3/4 lower July meal: 2.30 lower Juy soyoil: 45 lower Jul corn: 12 lower July wheat: 19 lower The markets opened lower with soyoil prices turning higher after the open. Benign weather forecasts continued to weigh on prices, with more events expected to cover the heart of the Midwest. Opening short-covering, bargain - hunting, and higher soyoil prices kept values afloat at the open as price action hunts for a trading range low. At 10:00 export inspections were released as follows: corn: 1,727,878 mt vs. 1,983,450 mt week ago (vs. an expected 1,950,000 mt) wheat: 573,912 mt vs. 660,298 mt week ago (vs. an expect...
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.