A confluence of factors helped soybean futures post a technical upside breakout overnight with strength continuing into the day session. Macro-traders are increasingly concerned about inflation, but raw commodity prices are typically beneficiaries of inflationary pressures and that thinking led to an influx of managed money in CBOT markets on Tuesday. Disappointing yields from Brazil’s still-delayed soybean harvest and a slow start to the export year were further supportive. November soybeans and December corn rallied to new contract highs as the Ag Outlook Forum’s key takeaway was that of “big demand”, which has traders thinking U.S. acreage needs to increase. Funds were net buyers in the soy complex and corn...
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.