GOOD MORNING, The markets are mostly lower though nearby corn and soyoil trade both sides of even. Corn gains on beans, and soyoil on meal. The sideways chop continues, with corn spreads still firm and bean spreads continuing weaker as Brazil harvest continues and China buying continues to slow. Corn basis and spreads are firm as the crop must be divided between exports, ethanol, and feed. Brazil's IMEA reported corn sowing in Mato Grosso at 88% done, as it enters the final stretch, but lags the year ago pace of 99%. Brazil's domestic corn prices typically trade higher in the off-season on lower stocks, with IMEA noting that domestic prices are up 115% since the start of the 19/20 season. Brazilian farme...
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.