GOOD MORNING, Bean prices led the way higher yesterday as products put in congestive trade, with today's price action mixed. Meal is lower vs. soyoil, and wheat is gaining on corn. Beans remain firm as bull-spreading activity continues, and the domestic basis remains firm. US farmers continue to want to sell their beans on a better rally, while the Brazilian farmer sells aggressively on a weaker Brazilian currency, which hit an all-time low vs. the dollar yesterday at 4.38 per dollar, some 9% lower than at the start of the year. Brazil's Central Bank intervened on Thursday to prop up their currency, which has fallen to one of the lowest levels in years. The spread between the US dollar, which traded to n...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
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.