Except for cattle and soyoil futures the major CBOT/CME ag markets turned red on Wednesday with a combination of surprise weather, technical selling, and a stronger U.S. dollar pressuring markets. The U.S. dollar ticked 36 bps higher on Wednesday, which helped pressure wheat futures along with aggressive fund/technical selling as the charts breakdown further. Corn and soybeans followed wheat lower after surprise showers fell across Argentina for the day, despite this week’s dry forecast. There was also a sense of limited risk appetite heading into the USDA’s Ag Outlook Forum on Thursday, which will include the agency’s first look at U.S. 2023 corn and soybean acreage. Generally speaking, it was a quiet, risk-off day, excep...
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...
The U.S.-Mexico-Canada Agreement (USMCA) enters its mandated six-year review on 1 July. The original intent of the review is outlined in Article 34.7, which obligates members to: Provide recommendations and decide on appropriate actions. Extend the USMCA for another 16 years and meet aga...
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.