The unique aspect going into today’s WASDE report was the diversity of issues and opinions about what it would say. Markets are especially uncertain due to competing narratives. On one hand, the market trades on USDA’s numbers as the most authoritative. The weather is now better, and warm nights are boosting growing degree days. Yields in recent years have been to the upside as the genetics seem to push through all kinds of real and imagined hazards. Meanwhile, China’s feed demand will be lower due to African swine fever. On the other hand, the U.S. crop was planted late and under less than optimal conditions. Farmers are not selling their old crop corn, which is pushing basis higher and reducing exports. USDA says corn p...
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
Illuminating the value of technical research
On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.