General Comments Overnight price action for grains and soybeans was mostly higher in light-to-moderate volume in response to even higher old crop cash basis bids, especially for corn. Corn premiums were firmer everywhere, but particularly in Iowa and Illinois where bumps of up to 7-8 cents were reported. Decatur was reportedly paying 62 cents over late Monday. There has been precious little export business for U.S. corn, but there has been difficulty in covering some of what has been previously done. Gulf corn was bid at a record high $1.25 over after yesterday's futures close.The early boost to corn futures prices meant that flat price old crop corn bids in various locations in the Midwest hit close to $7.25. This brought on a spurt of...
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...
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.