The CBOT opened with wheat leading to the downside and bull spreading between corn/soybeans and wheat unfolding. Soyoil futures were stronger in light of a palm oil futures rally and technical pressure that pushed soymeal lower and prompted unwinding of long soymeal/short soyoil trade. The CBOT was generally higher with news that China secured 110,000 MT of U.S. sorghum putting traders in a demand-inspired good mood. Late this morning, U.S. Secretary of Agriculture Sonny Perdue said USDA expects China to enter the U.S. market in late spring/summer and secure soybeans and other agricultural products. Deliveries against the March futures contract continue to be moderately heavy for the soy complex and curiously consistent for KC wheat,...
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.