Active overnight trading saw wheat and corn prices move higher as soybeans hung around on either side of Monday’s closes. Although corn was the volume leader overnight, wheat nearly matched it. In Monday’s trade, open interest (O/I) in corn jumped 12,417 contracts. We doubt that noncommercials were adding much to their short in corn, so perhaps there were some new longs. Chicago SRW O/I fell 4,369 contracts with KC wheat O/I dropping 5,262 contracts, both apparently the result of long liquidation. Soybeans joined the rally with wheat and corn during the day session to give a solid green color to the board, led by KC wheat. Old crop soybean futures contracts closed more than 8 cents higher with new crop November up 5.5 cents., M...
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.