The CBOT opened higher with wheat and soymeal leading the way. Corn followed wheat higher but soon fell back and entered a choppy trading pattern for the day. Soybeans rallied early on strength in the soymeal market, which posted a new contract high today, while soyoil continued to find pressure from fund profit taking. USDA’s report of fresh export business for corn and soybeans was supportive but better rains forecast for Brazil pressured afternoon gains. The monthly Cold Storage report showed total red meat and poultry supplies up 1.7 percent from July but down 7.3 percent from August 2019. Red meat supplies continue to see the lingering impacts of this spring’s packing plant shutdowns while the poultry market has rema...
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.