GOOD MORNING, Funds were net sellers across the board yesterday on overbought concerns and the fact that for once beans could not turn the rally back to new contract highs. But all good bull markets need and deserve a break. Funds sold modest amounts across the board, not challenging current uptrends, but bringing markets down to healthier congestion levels. Overnight, prices back and filled most charts, including corn and soyoil to key support levels that have held for the morning. December wheat futures trades led the way in terms of price weakness, but Egypt tendered after the close for 60,000 mt of wheat in a tender for Nov 10/20, with Polish offers said to be the best. Russian offers were previousl...
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.