CBOT markets opened higher overnight with corn and soybeans posting new contract highs. The ongoing strike in Argentina, combined with disappointing weekend rains for that country, boosted the buying mentality of Chicago traders. The day session, however, saw the soy complex and wheat trade lower on technical selling and fund liquidation. Funds are thought to have sold 12,000 contracts of soybeans, 10,000 contracts of wheat, and some 6,000-7,000 contracts each of soymeal and soyoil. Funds were net buyers of 6,000 corn contracts. The Export Inspections report was bullish soybeans with 53.2 Mbu shipped last week, more than double what was needed in this week’s report. Combined with the outstanding sales for 2020/21, total soybean...
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
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.