At the end of the day, it was all about what USDA had to say. That turned out to be another bearish report on corn and, especially, soybeans. The wheat numbers were somewhat positive. Markets were hoping USDA would make just modest upward yield adjustments for corn and soybeans, but it didn’t. Instead, those yields were popped to the high ends of the pre-report estimates. The spring wheat yield estimate was also big. The numbers sent the soy complex to major losses, and that pushed corn and wheat lower as well. (There is a separate analysis today of the USDA report.) U.S. equity markets were also under heavy fire today. Turkey’s currency was collapsing, which prompted fears that Turkey might default on loans. Corn FUT...
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.