As the markets waited for USDA’s February WASDE at noon (EST) today, overnight trading volume declined rather sharply from its heavy level earlier this week. Corn, wheat and soybeans traded both sides of yesterday’s closes overnight. At the early morning trading break, soybeans were up a little, wheat was down a little and corn was near unchanged. Wednesday saw a large reduction of open interest (O/I) across the board for everything but soymeal. The combined O/I of corn, soybeans, soyoil, Chicago SRW and KC HRW fell a total of approximately 63,000 contracts. Corn accounted for about 25,000 contracts of that. Obviously, there was large-scale liquidation of positions ahead of today’s WASDE. USDA’s February WASDE did...
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.