General Comments THE JUNE WASDE As expected, USDA's June WASDE contains no major surprises, but its overall tone is bearish. There were a few minor surprises, however. Perhaps the most important of these, relatively speaking, was the latest production estimate for U.S. 2013/14 winter wheat and all wheat production. Simply put, USDA slightly raised its estimates for both while the market expected small reductions. The actual increases themselves are small and do not change the overall picture, but the direction of the changes is part of the bearish tone put forward by the June WASDE.Another small surprise in terms of the market's pre-report thinking is that USDA left its 2013/14 planted and harvested acreages for corn and soybeans. The m...
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.