The CBOT turned lower on Tuesday with the U.S. Congressional battle over the debt ceiling, spending packages, and anything else the two parties can argue about creating a “risk off” day in macro markets. Aside from disappointment that the USDA did not report another round of daily soybean sales to China, it’s hard to say Tuesday’s grain market fundamentals were much different than yesterday’s. Soybeans found technical selling after the November contract failed to break major resistance yesterday, which helped exacerbate weakness in corn and wheat. Overall, the day held the tone of risk-off trade, combined with end-of-month and pre-Grain Stocks report position evening/liquidation. Funds were net sellers for the...
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.