There was a lot of red today but not as much as at the start of the session. There was profit taking off recent highs with end users taking advantage of these market breaks. Everything stayed within the new higher market ranges but only soybeans, soyoil and feeder cattle raised their game from a day earlier. Rumors of Chinese purchases of corn and soybeans were supportive, but lack of confirmation was not. Also bearish were scattered showers in Brazil. With so many records being set it is reasonable to test what may be overbought and to lighten the load. The weekly Energy Information Agency report on ethanol was reasonably bearish. Last week’s production fell 1.6 percent as distillers tried to unwind the squeeze between higher...
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.