News came overnight that China booked two-three cargoes of soybeans from the U.S. PNW, despite yesterday’s indications that the Chinese government was suspending purchases by its state-owned enterprises. The USDA-confirmed sales boosted the soybean market and put the complex on a track higher for the day. Wheat futures were lower on near-term favorable weather for Europe and the Black Sea while corn was caught between soybean strength and wheat weakness. Fundamental news was light today, which left the markets to trade technical indicators and intermarket spreads more heavily. There seems to be growing consensus that the near-term outlook for spring crops is higher with technical considerations and, in the case of soybeans, sum...
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.