Grain and soy futures prices were lower as the overnight session ended and again as the day session opened. However, when March corn failed to break below technical support at $3.50, it brought out enough short covering to produce a mini-rally. General Comments World markets were rattled overnight by North Korea’s announcement that it had successfully exploded a hydrogen bomb for the first time. It already possesses smaller nuclear weapons, but the addition of such a powerfully destructive device to the arsenal of such a “loose cannon” country is unnerving. However, monitoring by the U.S. and other nations has subsequently raised doubts that this test actually involved a hydrogen bomb. It was more likely a lesser nuclear weapon, according...
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.