Soybeans started the day higher and quickly posted a new contract high while corn was mostly steady until late day strength triggered buy-stops. Funds were modest net buyers, but trading volume was expectedly low as few want to carry additional risk into the long weekend with only four trading days before another long weekend. Funds are thought to have bought some 5,000 contracts of corn, 4,000 contracts of soybeans, and 2,500 contracts of wheat. Market news has been light today with continued rumors of China booking 2020/21 U.S. corn and soybean cargoes for spring shipment. USDA has not announced any daily “flash” export sales since the 11 December soymeal sale to the Philippines. The daily export sales announcements are...
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
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.