The sharply higher basis levels for spot soybeans and the antics of the expiring August contract rippled throughout the rest of the soybean market and even had enough influence to cause some short covering of corn and wheat. General Comments The August contracts in the soy complex expired at noon CDT today. Who would have believed that August soybeans with a mere 192 contracts of open interest or August soymeal with just 63 contracts of open interest could generate such excitement? Even with such a tiny amount to be liquidated, August soybeans traded in a 75.5-cent range from up 35.5 cents to down 40 cents, which is where it settled as it expired. August soymeal headed in the other direction and settled up $45.50.Normally, we would not pa...
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
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.