After opening lower for everything except HRS and lean hogs on news of a settlement in the Argentine port/crush workers strike, all major row crop contracts plus lean hogs ended the session higher. The turnaround started around mid-morning and by the close, new contract highs were set in March corn, March soybeans and soymeal, and March SRW. Multi-year highs were also set in some spot markets. It is heady territory going into a New Year’s break in trading action. The problem with holidays is that futures trading takes a break, but market developments do not. Each day of continued South America dryness and new U.S. export sales extends the bull run. Funds will seek to avoid being short lest they return from holiday further behin...
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
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.