Grain and soy complex markets felt the pain from the Brexit vote even though the decision has virtually no effect on short-term supply/demand fundamentals. Non-threatening weather is of greater importance. General Comments When stating yesterday that British voters are notoriously fickle, it should have been added that British public opinion polls are notoriously inaccurate on political matters. Last minute polls showed voters tilting toward staying in the EU as did those conducted when voting closed last night. When real votes were counted, however, the results were shocking. About 52 percent favored a British exit with 48 percent voting to remain.Confidence that the referendum vote would support staying in the EU built up enough during...
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.