The CBOT was mostly lower on Monday with a stronger U.S. dollar pressuring ag markets. Soyoil rallied with support from palm oil but soybeans and soymeal fell and moved lower into technical support. A key feature of Monday’s trade was reversal of existing long corn/short wheat spreads with some liquidation trade in soybeans and corn as well. Funds are thought to have sold 10,000 contracts of soybeans,12,000 contracts of corn, and some 5,000 contracts of wheat. The weekly Export Inspections report was neutral/bullish corn and soybeans with inspected volumes above what was required to meet USDA’s projections. Soybean inspections were above expectations while the corn figure was slightly below pre-report estimates. Wheat ins...
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.