More hot, dry weather emboldened bulls at the CBOT today. WPI’s future-implied crop yield models hold different outlooks for corn versus soybeans. General Comments Unless you were a wheat trader, it was good to be long in the overnight session. December corn and November soybeans added 5 and 7.75 cents, respectively, while soyoil and soymeal managed higher prices as well. Wheat futures, on the other hand, fell broadly. Chicago SRW wheat lost 1.75 cents, KC HRW was off 1.25 cents, and MEGX HRS wheat dropped 4.25 cents.The overnight session set the tone for today’s trading. Corn futures first traded quietly before moving 8-9 cents higher mid-day on deteriorating weather forecasts. Soybeans followed a similar pattern and finished 13-14.5 cen...
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.