Lean hog futures continued their beatdown today while feeder cattle were similarly lower. Live cattle futures managed an unconvincing higher close but remain under pressure. Technical resistance worked against wheat futures today and soybeans fell in another day of active selling. Corn, as usual, didn’t do anything interesting as traders wait for tomorrow’s USDA reports. Outside markets are higher, though not offering much support to the ag complex. The S&P 500 and Dow are both in positive territory, apparently having decided a one-day selloff was good enough for now. The VIX index is back below 10 again (last quote at 9.74) as traders feel comforted by higher equity prices. The Dollar Index is off 51 points to 91.84...
What You Need to Know Today: USDA reports are delayed until Tuesday due to the federal holiday on Monday. Over the weekend, President Trump announced a ceasefire between Russia and Ukraine. Russia warmly welcomed and confirmed this ceasefire by conducting more strikes against Ukraine. Specific...
On Saturday, 10 October, at a campaign rally in Clarksville, Tennessee, President Trump said that the U.S. and Mexico would come to terms on a new trade deal, and he said Canada does not need to be part of the deal. Trump called the coming agreement with Mexico “great” but gave no d...
Key Takeaways: The United States has steadily lost global wheat export market share since the 1970s, falling from the world's leading exporter to a projected fifth place in 2026/27. The rapid expansion of Black Sea wheat exports, driven by improved productivity and export infrastructure, has r...
From WPI Consulting
Communicating importance of value-added products
Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.