GOOD MORNING, Prices overnight were mixed as soyoil prices returned to weakness taking beans along for the ride. Grains are mixed led by wheat to the upside, which likely rallies on short-covering. July open interest continues to be liquidated or rolled as we begin to head towards first notice day. August contracts will soon take the place of July, with inverses firming for beans and corn. August/Nov beans are firmer as is the Sep/Dec corn spread. Beans rallied this week as China purchased US beans on the break, and further inquiries are being made despite SA being less expensive. Traders continue to look for signs that China will purchase US corn again. China is said to auction...
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.