The CBOT started the day weaker, but end-users stepped up in the corn market and created enough strength to force a higher close. As such, the corn market looks like it may have formed near-term lows and the odds of sideways trade are increasing. Soybeans attempted to follow the corn market higher but weaker soyoil and soymeal values eroded crush margins and forced the market lower. Wheat futures sagged once again with little bullish news to support the market. Funds were on both sides of the corn market Wednesday and are thought to have been net sellers of some 10,000 contracts. Funds sold 11,000 contracts of wheat and around 5,000 contracts of soybeans. Funds were net sellers of both soyoil and soymeal, selling 4,000-5,000 contract...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
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.