After three down days in a row, the corn market finally managed a positive close even if only by a penny or so as the market awaits tomorrow's report. The trade guess is that ending 2014/15 U.S. corn will be estimated at more than 2 billion bushels. General Comments With slow trade and only minor price movements, grain and soy markets acted as though there would be a government report tomorrow, which of course is exactly the case. USDA will release the September WASDE at noon EDT Thursday, and interested parties have been debating how much larger the USDA/NASS corn and soybean estimates will be compared with the August numbers. To recap the August report: Based on its first survey of the season, NASS used a 2014 corn yield of 167.4 bushel...
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.