Note: The Closing Bell Wrap-Up will be on vacation Wednesday and Thursday this week, but will return next week. Poor crop condition ratings in Kansas and Oklahoma, combined with persistent drought in Argentina, pushed wheat and soybeans higher today, with corn reluctantly following. Trading volumes were good with 290,000 contracts of March corn, 165,000 contracts of May soybeans, and 78,000 contracts of May Chicago wheat trading hands. Outside markets are lower with the S&P down 0.75 percent and the Dow down 0.63 percent as of this writing. The CBOE’s VIX index is 2.5 points higher while COMEX gold is down $13/ounce. The U.S. dollar is 44 points higher and above recent technical resistance, which dampened some of 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...
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.