Corn and wheat rallies are likely over, while soybean futures may have more potential. Traders are watching fall hog supplies with suspicion, and the Cattle on Feed report’s effects are still dogging the cattle market. General Comments The soy complex was the winner of the overnight session. USDA’s crop condition ratings that pegged the soybean crop as worse than expected sent September soybeans 7.25 cents higher by the end of the overnight session. Soyoil and soymeal were pulled higher too, gaining $0.22 cents/pound and $2.40/ST, respectively.CBOT’s grain contracts did not fare so favorably last night. December corn closed 2.75 cents lower, while Chicago SRW wheat and KC HRW wheat fell 3.5 cents and 4 cents, respectively. MGEX HRS wheat,...
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.