U.S. wheat supplies for 2017/18 may be down 25 percent or more, but USDA’s August forecast that world ending 2017/18 wheat supplies will climb to more than 264 MMT is enough to keep prices on the defensive and end users on the sidelines. General Comments Grain and soy markets have been beaten up since the bearish 10 August WASDE was followed by a change to better weather, but markets cannot go down forever. That seemed to be the reasoning that prompted enough buying interest to turn prices ever so slightly higher in overnight trade. Soybeans were up about 4 cents, while winter wheat and corn contracts picked up around 2 cents. While not big of course, they were nevertheless gains. Things changed during the day session with corn and 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.