The extreme movement of soybean prices first boosted grain prices, but ultimately pulled grains to lower closes as well. However, the grains were not traded in nearly the same heavy volume seen in the soy market. General Comments Fed Chairwoman Janet Yellen appeared before the Senate Banking Committee today, a session that was postponed on 13 February due to a threatening snowstorm. In her testimony, she acknowledged that economic data in recent weeks was weaker than expected, but there is no way to know how much of this might be caused by the bad winter weather. She also said that the Fed could slow its tapering down of the QE 3 stimulus program if necessary. Above all, she stressed that the Fed would maintain continuity with the policie...
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.
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...