The CBOT was sharply lower on Thursday with the Canadian rail workers strike and forecasts of record-breaking yields emboldening bears. Wheat futures scored new contract lows amid signs of weaker demand while corn and soybeans saw threats primarily from the ever-expanding production outlook for 2024. Funds were net sellers again for the day with the yield data offering more reasons to push the risk envelope on the short side. The day’s trade merely confirms the bearish outlook for corn and soybeans while for wheat it shifts the near-term outlook from neutral back to bearish. The headline of the day was that Canada’s two biggest railways, Canadian National and the Canadian Pacific Kansas City officially locked out 9,000 un...
Weather concerns and the impacts of the war in Iran helped push wheat and corn to sharp gains Tuesday, with both markets blowing past key technical resistance levels. The weather is now coupled with geopolitical tensions that look increasingly hard to resolve, which is giving funds the perfect...
Congress is moving forward with its FY 2027 spending bills, while also still working to address FY 2026 funding for the Department of Homeland Security, which is still in a shutdown. The House Agriculture-FDA Appropriations Subcommittee marked up and passed its FY 2027 bill. The House bill prov...
The overarching concern for China is that the rising cost of energy will reduce global trade demand at the same time that countries are becoming more protectionist. Trump Visit to China President Trump’s visit to China is in just over two weeks, though some question whether the trip...
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.