Corn prices chewed back and forth in a narrow 5-cent range before closing slightly lower, while the soy complex was an island of strength among commodities. General Comments Trading in grain and soy futures resumed Monday evening following the long weekend. Price action was mixed, and volume was unimpressive. However, corn, wheat and soybean prices all managed to edge higher by the time the overnight session ended. The failure of corn and soybean futures to hit new lows probably encouraged some short covering and profit taking. There has been a pattern recently in which grain and soy prices firm overnight, but fade lower during the day session. We are not sure there is a specific fundamental reason for this. Maybe it is because the overni...
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.