USDA will publish the October WASDE tomorrow. The market will be watching for changes in the corn and soybean yield estimates and what that means for ending stocks and prices. Recall that the 30 September final Grain Stocks report included revisions to the previous marketing year production for corn and soybeans, which is normal since the marketing year was complete. Production for 2020 corn was revised down slightly, but 2020 soybean production was revised up 2 percent from the previous estimate. This means the soybean carryout from the last marketing year will be increased by nearly 80 million bushels. The October WASDE, however, is also the first bit of data in the USDA’s long-term 10-year outlook, published every year in February...
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.