Technical trading ruled the day at the CBOT/CME with overnight weakness in palm oil sending soyoil lower at the open. That set the stage for support in soybeans and meal as bear soyoil/meal or soybean spread trading developed. The wheat markets pulled back sharply at the open in a test of yesterday’s strength and newly formed support points. That support held, and all three classes of wheat finished with (relatively) minor losses. Funds are long wheat and are defending that position while cash SRW values firm. The trade is looking for USDA’s initial 2020 outlook in the Ag Outlook Forum tomorrow morning. Expectations are that some 93.5 million acres of corn will be seeded this coming year with 85 million acres of soybeans...
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
Infrastructure investment due diligence
On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.