GOOD MORNING, Technical rallies continue as gains build across the board with new contract highs in beans, meal, and soyoil. The markets were mixed on Monday with a lower PM session, followed by a quick turn-around morning open into new contract highs in a move that looked like a bullish WASDE had just been released. Funds were buyers of 2K wheat contracts, 8K corn, 17 beans, 6K meal, and 1K soyoil. Pent-up buying on the breaks emerged as end-users scramble to get covered before the end of the year. Strong markets continue as tops remain unconfirmed. Producers remain limited sellers even as prices make new contract highs. November 2021 beans get closer to the $11.00 level. ...
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.