GOOD MORNING, Prices are higher this morning, with new contract highs in soyoil and beans approaching the top end of its trading range. Traders are watching closely to see if March beans can break through the $12.00 level. Drier than normal weather patterns continue across parts of Brazil and Argentina. Private crop estimates continue to be steady or show overall declines for beans and corn. The lack of US or SA farmer selling is allowing prices to firm as funds buy back some of what they tossed out a week ago. US farmers have sold an estimated 80-85% of the 2020 crop, which is limiting the amount of pressure as funds buy. Reasons for the rally include: Producers may wait to sell unt...
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.