CBOT ag markets were mostly higher as traders added risk premia to corn and soybeans heading into what looks like a dry weekend for the Corn Belt. Wheat futures traded lower in lackluster trade but broke technical support levels, setting up potential for lower trade early next week. Soymeal continues to establish itself as a strong bull market while spreading between that contract and soyoil pushed the vegoil lower. Overall, funds were net sellers in soybeans and wheat and are rumored to have secured some 6,000 contracts of corn. The weekly CFTC report showed funds emerging as major net buyers of corn, bunting nearly 80,000 contracts and emerging from the week as net longs. Funds were also bullish the soy complex, adding a total of 7...
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.