Bottom Line: Markets are technically sideways until there is new information to guide them. It is fairly interesting that if you pop up a bean, wheat, or corn chart, they present wide sideways trading formations at the top of an extended run higher, which can become toppy if we settle under key support lows. The formations at the moment are more suggestive of wide trading ranges that the markets are content to wait in while the crops continue to grow. While questions remain as to how much corn has been planted, where the yields actually are, and how much prevent plant we have going, we have to play these ranges: Dec corn: $4.20 - $4.65/$4.70 Nov beans: $8.90-$9.50 Sep wheat: $4.95 --$5.40 Whil...
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.