This morning's USDA quarterly stocks numbers threw bullish corn and wheat numbers at the market. The soybean number was slightly bearish. Needless to say, the report caught the corn and wheat markets leaning the wrong way and those markets were sharply higher minutes after the report was released. Soybeans, on the other hand, became the short side of spread selling with a 39-million-bushel increase in old crop ending supplies creating some angst for the bulls. Here are the 1 September stocks numbers compared to a year ago and the average trade guesses:Corn: No matter how you try to massage the 1 September corn stocks number and make assumptions about June/July/August consumption, the result is that supplies were smaller than expected. The...
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...
Key Market Insights Geopolitical Limbo: Geopolitical risk remained a key driver across global commodity markets today. President Trump stated that the Iran memorandum of understanding is not yet final and warned that military action could resume if negotiations fail. Both sides continue w...
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.