The CBOT opened on the defensive heading into the WASDE with traders bracing for bearish numbers. The soy complex led the way lower with a 2 percent decrease in Malaysian palm oil helping pull soyoil lower in early trade. Corn and wheat followed the soy complex lower initially but found trading range/technical support and were mostly sideways heading into the October WASDE. The October WASDE was predominantly bearish soybeans with USDA projecting a record-large U.S. soybean crop and increasing U.S. 2021/22 ending stocks by more than expected. USDA added 0.9 BPA to this year’s soybean yield estimate, a surprisingly large change for an October WASDE, due largely to larger yields for Iowa, Minnesota, and Nebraska. These regions we...
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...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
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.