The markets opened mostly lower (except soyoil) with modest short-position building and long liquidation ahead of the WASDE. The biggest news item of the morning was President Trump noting that he has not agreed to suspend tariffs on Chinese goods, though earlier reports/rumors suggested he was willing to do so. Today’s news created liquidation in soybeans and hog futures with corn bleeding lower as well. As is discussed in more detail below, the WASDE held relatively few surprises, especially in comparison to other reports this spring/fall. The early reaction to the report was buy corn/sell soybeans, which might have been the result of a desire to reverse spreads established earlier. That dynamic didn’t last too long how...
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.