Overnight trading saw prices ease back from yesterday’s rally levels, but that session’s results did not prepare the market for today’s wave of long liquidation. Soybeans, corn and Chicago wheat all gave back yesterday’s gains and more. General Comments Yesterday’s buying blitz by commodity funds brought on some startling changes in the open interest in CME grain and soy futures. Open interest in corn jumped by more than 53,000 contracts, the biggest single day change for any CME ag commodity in memory. Soybean open interest grew by 8,839 contracts; soyoil open interest was up a huge 9,541 contracts; and meal open interest gained 4,411 contracts. Chicago wheat open interest fell 3,398 contracts. All told, the open interest for corn and th...
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
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.