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Market Commentary

Ag commodities started the day higher with corn leading the way on a short covering rally. Positioning ahead of the WASDE was the name of the game today with many traders straddling/strangling the market in expectation of volatility in either direction. Trading volumes were slightly below average, and, except for soybeans, the markets traded either side of unchanged with notable uncertainty. The weekend weather looks broadly favorable with precipitation across the bulk of the Corn Belt and modest temperatures. Beyond that, however, the forecast turns warmer and drier in the six-10 and eight-14-day forecasts. Notably, the beleaguered eastern Corn Belt is forecast to be drier than normal beyond next week. Outside markets are mixed heading i...

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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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