Macro markets continued their “risk-off” trade Wednesday with the U.S. dollar rising 40 bps. That worked against wheat futures with both SRW and HRW markets finding continued selling pressure. Row crop futures are looking at the looming harvest and wondering just how much more China can/will buy. USDA reported an additional 9.5 Mbu of daily export sales this morning, but the soybean market was unimpressed and traded lower. Soymeal was one of the few CBOT markets to post strong gains as dry weather in Argentina and fund buying/spread reversals continue to support that market. U.S. cash prices are turning lower, especially for corn and soybeans, as harvest begins for both crops. The weakness in corn and soybean futures this...
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.