Today's higher price action in the nearby November soybean contracts is likely continue in the short term, irrespective of the contents of tomorrow's USDA quarterly stocks report. That is because traders must reduce their current spread positions that are long December corn and short November soybeans. General Comments Corn, wheat and the soy complex all closed high today in an orderly manner. The nearby soybean contract had the firmest-looking close, and market discussion attributed that price action to traders positioning themselves prior to the release of USDA's quarterly Grain Stocks report tomorrow. Perhaps that may have been a limited factor, but today's higher price action in the nearby November soybean contracts is likely to conti...
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.