Yesterday’s corrective price action extended into the overnight session with soybeans leading the way, being down 7-8 cents. Wheat futures prices were a nickel lower, and corn was off 1-2 cents. One reason for soybeans’ continued weakness is that one weather model maintains rain for Argentine crop areas 12-15 days from now, although other models are not so optimistic. In any case, betting on weather so far ahead has not proven very successful lately. There appears little or no chance of rain for Argentine crops over the next 10 days, and temperatures are predicted to heat up to potentially stressful levels for crops that are in dire need of moisture. Red numbers dominated most of the day session as well. Selling of soybeans acc...
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.