USDA released their July WASDE and Production reports at noon today and they offered no decisive advantage to either long or short traders. Slight adjustments were made to U.S. numbers in the WASDE to reflect the data that was released in the 28 June Acreage and Stocks reports. More specific details of these reports can be seen in the proceeding analytic section. It is sufficient to note in this commentary that today's reports will have little influence on near-term price action. Price behavior from now until the first week of August will be most heavily influenced by news relating to weather, crop conditions and export announcements. The confidence of traders who currently hold short positions in corn could weaken if the December contrac...
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.