Yesterday’s rather placid grain and soy futures trade was replaced by a return of the weather market overnight. Most prices for corn, wheat and soybeans quickly leapt to double-digit gains, and higher prices carried over into the day session, at least until midday. General Comments Yesterday’s rather placid grain and soy futures trade was replaced by a return of the weather market overnight. Yesterday USDA reported 1 percent declines in good/excellent ratings for corn, soybeans and spring wheat. That was not a big deal since it was right in line with expectations. However, it became a bigger deal when the overnight GFS weather model run came out seconding the EU model’s call for drier and much hotter conditions over most of the western Co...
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.