There was selling in the overnight session but at low volume and the pace picked up today, at least for some commodities. Volume was higher getting out of soybeans, meal, and wheat, but it was also higher getting into live cattle. The market started out as called but closed lower than expected in corn, soybeans, and wheat. Soyoil closed down the limit. Despite expectations that the upcoming WASDE will show higher exports and lower stocks (or will it?), there is consensus that current prices will incentivize more land being planted to corn and soybeans, and that is weighing heavily on the market. Meanwhile, demand is threatened as Europe continues to struggle against the virus. While there were some anomalies for the day, most contrac...
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.