Last week’s inflation data spooked equity and other macroeconomic markets with S&P 500 futures opening 2 percent lower overnight. That was as good as things were going to get with the Dow subsequently opening 500 points lower and selling off further throughout the day. Inflation wasn’t the only factor to the selloff as rising COVID-19 cases in China spurred concerns about the likelihood of renewed economic lockdowns there and their impact on the global economy. In ag products, funds were net sellers but began to buy back some of their previously sold positions at the day’s ends. The grains found better strength than oilseeds, as a weaker energy outlook weighed on vegoil values. The U.S. winter wheat harvest is gaining...
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.