General Comments The midday GFS weather model dialed in more rain for central Argentine crop areas than previous model runs had shown. Now it is calling for a cold front to produce heavy rains next Tuesday and Wednesday with local amounts over an inch. The rains diminish as the front moves north. Hopefully this will happen, but we caution that for several weeks the GFS model has consistently overstated rain potential. After next week, the models see a return to the dry pattern at least until late January. Incidentally, officials in Brazil's Parana and RDGS states both reduced their state production estimated for corn and soybeans today.In any case, the market ran with the increased chance for rain which was combined with discouraging eco...
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.