Funds were selling wheat again today and had reportedly sold more than 7,000 contracts of Chicago wheat by noon. Meanwhile, soybean and soymeal futures turned higher early in today’s trade. November soybean futures traded right up to $10.20, a key technical resistance point. General Comments Markets opened slightly lower Sunday evening and remained that way throughout the night on light volume. Soybean futures turned positive at this morning’s opening and eventually traded 14-15 cents higher. Wheat was weak and corn was slightly lower much of the session. The only news is that the Pro Farmer crop tour started today with one leg in Ohio and the other in South Dakota. The groups will merge in Rochester, MN on Thursday.Crude oil was giving b...
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.