The overnight price weakness carried over into the day session with the strong U.S. dollar and China's weakening economy keeping prices under pressure. General Comments Yesterday's Commodity Futures Trading Commission (CFTC) Commitment of Traders (COT) report confirmed that there was a massive transfer of ownership in CME grain and soybean markets in the week ending 30 June. It showed managed funds long about 71,000 contracts of corn as of that date. The previous COT report had funds short about 95,000 corn contracts. A position shift of approximately 165,000 contracts in a single week is unprecedented. There was a similar, though smaller, change in the Chicago wheat market where funds went from being short more than 50,000 contracts to l...
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...
Illuminating the value of technical research
On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.