Days like yesterday are always interesting but so was today’s market action in its own quirky way. The expectation was follow-through after some limit up finishes on Wednesday and the calculation that some contracts are not yet overbought. The opening reflected bullish calls but then it turned lower for everything but corn, soymeal, and beef. Volume was high except in soyoil and HRS. Higher limits were in play, but they were not needed. Instead, there was profit-taking. However, some of today’s lower levels will get bought. It is no doubt easier to price old crop at this point whereas the new crop still has a major unknown after yesterday’s USDA reports – the weather. There is still nothing too encouraging fo...
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.