Wheat behaved like the soy complex today. Yesterday's big reversals off the highs brought some fund selling and other profit taking, keeping all three wheat contracts under pressure all day. General Comments Markets were weaker overnight following Thursday's reversals. Soybeans had the biggest losses with wheat next in line. Corn was surprisingly calm, although USDA's announcement that 340,000 MT of U.S. corn had been sold to Egypt probably gave the sellers a reason to just watch for a while. There was little fresh news today, and the Black Sea was quiet. U.S. financial markets were very strong early, but those gains moderated as the day wore on before totally disappearing late in the session. Crude oil was marginally higher.Weather forec...
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.