GOOD MORNING, Prices begin mixed, lower wheat and soyoil vs. firmness elsewhere. The macro impact on the market continues as a weaker energy price, namely crude oil, fuels a sell-off in the soyoil market and provides a needed correction in oilshare. That correction continued overnight with Asian palm oil prices lower as well. Surging cases of covid in Europe stoke fears that sent crude plunging, and the impact of a lower soyoil market impacted beans as well. Beans are already struggling on lower export demand and better rains in SA, which have stabilized crops. Typically, when crop production guesses stop declining, the market will recognize it as such. Since crude can sometimes be a barometer for...
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.