May kicked off with Saturday’s running of the 147th Kentucky Derby, arguably the most famous horse race in history, and the Medina Spirit won with a time of 2 minutes 1.02 seconds. On Sunday night, the CBOT seemed determined to match Medina Spirit’s pace and started this week’s market race with a gap-higher opening. Corn futures posted a new contract high overnight, and soybeans and wheat followed closely behind. Most CBOT contracts ended lower for the day, despite the strong overnight markets. Today is the first day of the CBOT’s new, expanded price limits for commodities listed below. That, combined with higher margin requirements for these commodities means some funds and traders are having to reduce their...
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.