Markets started this week on a more interesting and volatile note, led by wheat (of all things). Last Friday’s Commitment of Traders (COT) report showed that managed money had raised its short position in wheat, which caught the trade by surprise. General Comments Markets started this week on a more interesting and volatile note, led by wheat (of all things). Last Friday’s Commitment of Traders (COT) report showed that managed money had raised its short position in wheat from just 16,000 contracts the previous week to 52,000 contracts last week. That big increase caught the trade by surprise, and a round of short covering took over. This took Chicago December wheat futures to more than 20 cents higher at one point. The rally in wheat drag...
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.