GOOD MORNING, The Coronavirus continues to impact markets across the board creating more liquidation. The death toll passed 3,000 today, after more people died in China and US authorities confirmed a second fatality. Wheat and soyoil bulls spent last week in liquidation mode, as oilshare traded to new lows as well. Meal shorts were liquidating as Argentina restructured its export taxes, and not one but two Argentine crushers announced that they were in financial trouble. Grains sales in Argentina remain at a standstill as of now which is bringing more support to US prices. This morning, meal prices hit a new chart high, which underpinned beans. Oilshare fell as NOPA stocks have been larger and en...
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.