It wasn’t exactly “turnaround Tuesday” since the markets were closed yesterday, but it sure felt like it was. Wheat futures fell hard on short covering and a sharply higher dollar, despite lingering weather concerns. Corn was slightly lower after making a new high for its current rally, with hedge pressure blamed for much of the losses. Soybeans managed to work their way higher, with the Argentine weather again fueling higher prices. Outside markets are working against the CBOT with U.S. equities lower (the Dow off 200 points or 0.8 percent and the S&P 500 down 8.5 points or 0.3 percent) and the U.S. dollar index 50 points higher at 89.6. COMEX gold futures are down $23-24/ounce today while crude oil is mixed (W...
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
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.