The CBOT traded sharply higher with corn, soybeans, soyoil, and soymeal all posting fresh contract highs. Soybeans traded to gains of nearly 40 cents, buoyed by continued drought in Argentina and a massive round of fund buying. Corn is also benefitting from expectations of significant cuts to Argentine yields and the market is starting to ration demand. Funds were net buyers today and bought back all of what was sold yesterday. The 2020 CBOT rally continues with no end in sight currently. Yesterday’s CFTC report was bullish the soy complex as funds were not as long soybeans as previously thought. Funds’ futures-only soybean position was cut 2,400 contracts last week with commercials also selling a roughly equal amount. Co...
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.