Weather across the U.S. and Canada provided most of the impetus for today's strong rally in wheat. Corn tried to follow wheat higher, while soybeans had a very quiet trading day. General Comments Markets were steady to a bit higher overnight, led by wheat with corn and soybeans simply trying to follow. We started the week with weather concerns regarding the U.S. and Canadian wheat crops. It is raining too much on a maturing hard red winter wheat crop in the southern Plains, while the northern Plains, especially the eastern Dakotas and western Minnesota, received another 2-5 inches over the weekend. The bigger problem was that as this rain system pulled out, it brought in some freezing temperatures across southern Saskatchewan and Manitoba...
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.