The CBOT opened on the defensive heading into the WASDE with traders bracing for bearish numbers. The soy complex led the way lower with a 2 percent decrease in Malaysian palm oil helping pull soyoil lower in early trade. Corn and wheat followed the soy complex lower initially but found trading range/technical support and were mostly sideways heading into the October WASDE. The October WASDE was predominantly bearish soybeans with USDA projecting a record-large U.S. soybean crop and increasing U.S. 2021/22 ending stocks by more than expected. USDA added 0.9 BPA to this year’s soybean yield estimate, a surprisingly large change for an October WASDE, due largely to larger yields for Iowa, Minnesota, and Nebraska. These regions we...
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.