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Market Commentary

CBOT futures started the overnight session on a mixed note but turned lower as the night wore on. The opening bell brought with it aggressive selling in soybeans and soymeal. That pressure, however, did not last and soybeans finished with solid gains while soymeal settled just slightly lower. Corn finished the day slightly higher as the afternoon soybean strength overcame weakness in wheat futures.  The CBOT’s primary focus presently is the U.S. weather forecast, which remains benign. Long-term forecast models suggest limited heat through July and average or better precipitation. Of course, it is too early to accurately predict mid-July daily highs that could stress corn during pollination, so some weather risk remains. Overall,...

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Summary of Futures

Dec 20 Corn closed at $3.365/bushel, down $0.0825 from yesterday's close.  Sep 20 Wheat closed at $5.2475/bushel, down $0.0925 from yesterday's close.  Nov 20 Soybeans closed at $8.7525/bushel, down $0.155 from yesterday's close.  Dec 20 Soymeal closed at $291.7/short ton, down $...

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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.

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