GOOD MORNING, Prices are mixed this morning, with grains higher on short-covering. The massive wind storm that impacted the US, along with slightly lower corn crop ratings, has triggered more short-covering this morning. Wheat moves off its low of $4.90 as more of a sideways pattern begins to form from the bottom. Corn in particular has a tendency to post its low around the August report. Depending on the size of the yield printed tomorrow, we will see if this comes true this year. However, the bar has been set high with a 184.5 bpa printed for corn. The market penciled it in, which could set up a fund short-covering rally tomorrow if the USDA takes a more modest road. Typically, the Sep. and Oct...
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.