There was selling in the overnight session but at low volume and the pace picked up today, at least for some commodities. Volume was higher getting out of soybeans, meal, and wheat, but it was also higher getting into live cattle. The market started out as called but closed lower than expected in corn, soybeans, and wheat. Soyoil closed down the limit. Despite expectations that the upcoming WASDE will show higher exports and lower stocks (or will it?), there is consensus that current prices will incentivize more land being planted to corn and soybeans, and that is weighing heavily on the market. Meanwhile, demand is threatened as Europe continues to struggle against the virus. While there were some anomalies for the day, most contrac...
What You Need to Know Today: President Trump claimed the ceasefire between the U.S. and Iran was over, as both sides accused one another of violating the terms of the agreement. Commercial vessels are increasingly steering clear of the Strait of Hormuz as security risks escalate following Iran...
Key Takeaways: The CME Group is launching new 90 percent Lean Beef and 50 percent Lean Beef futures and options contracts in July. There are five key factors that must be present in physical markets and futures contract specifications for futures contracts to become successful. The two l...
Russian Grain Markets: 29 June-3 July 2026 The new marketing season has officially begun in Russia, although bearish sentiment has been concentrated in the southern regions closest to the Black Sea ports, where export demand has been weakest. Delays in grain deliveries to inland elevators have...
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.