Grain and soy markets spent the day mired in the red. At their lows, corn futures were down at least 9 cents, soybeans were off around 30 cents and soymeal was about $11 lower. Prices did recover some from session lows, General Comments The U.S. Climate Prediction Center released its new weather outlook for July, August and September today (see its Seasonal Drought Outlook map below). Note that expected drought conditions are mostly limited to California and the Tennessee Valley with drying conditions for the Pacific Northwest (PNW). Drought is not indicated for the fat part of the Midwest where the center rated chances of above- or below-normal rainfall as being equal. Midwest temperatures for July and August are seen as normal to above-...
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.