General Comments Grain and soy futures traded in mixed fashion overnight. Corn, soybeans and wheat prices were on both sides in fairly active trade. Wheat showed the most strength on the GASC tender and opinions that USDA has not cut world wheat production enough. By the opening of the day session, trading volume dried up and markets lost direction. Profit-taking pressured soybeans, but corn and wheat prices generally chopped around.The soybean market did have one feature, and that was selling the inverse between nearby and deferred contracts. Traders apparently decided that March 2013 soybeans at 52 cents under November 2012 and May soybeans at $1.32 below November were bargains, especially until the South American soybean crop proves i...
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.