The CBOT was higher on Tuesday with corn maintaining its range-bound trading pattern while soybeans and soymeal seemed to need to catch up with the soyoil rally. Wheat futures traded lower initially but quickly found substantial short covering that pulled the market higher and formed a minor reversal on the charts. Soyoil filled its overnight chart gap and settled higher, leaving the market showing few signs of slowing down. Macro markets were all weaker but that didn’t seem to faze the CBOT today. Funds are thought to have bought 10,000 contracts of wheat today, along with 12,000 contracts of soybeans and 4,000 of soymeal while also adding 6,000 contracts to their soyoil long. Funds were also net buyers in the corn pit, securing 10,...
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.