The CBOT surged higher on Wednesday with corn and soybeans scoring new contract highs while wheat continued its technical rally – and that was all before the WASDE was released! Funds were active buyers in the morning on expectations of a bullish report and confirmation of more new crop soybean sales to China. The major ag markets continued their rallies after the WASDE was released and corn, soybeans, and wheat all posted technically bullish closes. The February WASDE was bearish corn, soybean, and wheat futures as USDA made fewer and smaller adjustments than the trade expected. USDA did not alter the U.S. 2021/22 corn balance sheet and only cut U.S. soybean ending stocks by 25 Mbu, after an equal increase in the crush forecas...
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.