Grain and soy markets started out weaker in overnight trade and continued to trade red numbers throughout the day session in a relatively subdued manner. Meanwhile, the Pro Farmer Midwestern crop tour seems to have assumed some increased level of importance. General Comments The Pro Farmer Midwestern crop tour, currently underway, seems to have assumed some increased level of importance compared with the last few years. The reasons for this are USDA’s August corn and soybean yield estimates of 175.1 bushels/acre and 48.9 bushels/acre, respectively. Those are spectacular levels and, if realized, would blow up the existing yield records. It has been an odd growing season so far with very warm temperatures but ample rainfall except for limit...
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.