The CBOT opened on a high note with corn, wheat, and the entire soy complex moving strongly into positive territory. By afternoon, however, lackluster reports from the USDA Outlook Forum and profit taking ahead of the weekend pulled everything but soyoil lower and to a negative close. Traders were bull spreading soyoil/soymeal and bear spreading wheat/corn this afternoon. The USDA’s Ag Outlook Forum is wrapping up today and failed to offer the commodity markets much excitement. Yesterday’s acreage announcements were bullish soybeans and bearish corn while the release of today’s more detailed grain and oilseed balance sheets (detailed by commodity below) continued that trend with bullish interpretations for 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
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.