Following the long weekend, corn and soybean futures were quiet with little change overnight. However, wheat futures suffered double-digit losses on wire service reports that Russian ag ministry officials told exporters that putting restrictions on grain and wheat exports would not be necessary this year. Our understanding from sources is that was a misrepresentation as those officials actually said they would not limit exports at this time but would closely monitor the volumes to determine if action would be needed later. This has Russian exporters betting on a restrictive export tax by late October or November. Nevertheless, wheat futures continued to sink during the day session. When wheat prices sank below support at last week’s l...
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.