GOOD MORNING, Prices remain steady today as the Agricultural Outlook Forum presents its full Supply and Demand tables and acreage numbers. Heading out this weekend funds may hold an estimated 130K short corn, 90K beans, and 50K meal. Funds are estimated to be net long around 45K wheat and 45K soyoil. As to the Outlook numbers: The gist of the report was bullish for wheat, with production to drop 4%. Key feature in the beans was that USDA increased exports and drew down ending stocks, tilting the numbers into a more friendly slant as well. Corn numbers were neutral to bearish. Reaction of the market was for wheat and beans to strengthen post data. Here are the Forum...
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.