General Comments Even though the Spanish government yesterday put forward a package of tight budget and spending reforms, today's Spanish bond auction received something less than an enthusiastic reception by the market. Spain was not able to auction off as much as it wanted to, and all maturities went for higher interest rates than the last auction on 15 March. Eight-year notes went for 5.34 percent, and Spanish 10-year notes were trading in EU financial markets at 5.61 percent, which is sharply higher than 4.9 percent where they were trading a month ago. Analysts consider the Spanish austerity plans to be credible, but the weak results of today's auction have once again put the sovereign debt issue back on the market's radar.Meanwhile,...
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.