DecisionNext adds competitive competencies in modeling grains and grain derivatives, in some cases significantly outperforming CBOT models.
In response to demand from customers in the bakery, retail, foodservice, and distribution sectors, the DecisionNext platform has expanded it’s out-of-the-box modeling capabilities to cover series for various grains and grain derivatives including but not limited to:
- Soy Beans
- Soy Oil
- Red Winter Wheat
Consider soybean oil, one of the most widely produced and consumed edible oils in the U.S. Figure 1 shows a chart comparing the forecast accuracy of various different models predicting the price of soybean oil. In this example using a time period of ten weeks into the future, the DecisionNext Soy Oil Model shows a $4.00/cwt (4 cents per pound) improvement in forecast accuracy when compared to the CBOT.
Notably, the DecisionNext Soy Oil Model shows significant accuracy advantages over the entire 26 week time horizon depicted.
For a full list of out-of-the-box grains and grains derivative models available on the DecisionNext modeling platform or to talk with one of our industry experts, hit the button below.