The CBOT opened higher with soybean futures once again pressing towards the key $12.00 level. Weakness in soyoil pulled the market lower, however, and both markets finished in the red for the day. Soymeal was the upside leader in the soy complex while wheat sagged and weighed on corn. Funds were modest net buyers across the board but held limited interest in the grains. The lack of farmer selling in the U.S. or Brazil is helping markets continue to grind higher. The U.S. Census Bureau released its monthly Advanced Retail Trade report today, which showed a 1.1 percent decline in U.S. retail spending in November. The decrease was the second in the past seven months and points to a potentially weaker U.S. economy. Notably, grocery store...
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.