The CBOT was mostly higher following yesterday’s fundamental reports with corn and soybeans leading the way. Wheat saw surprisingly little follow-through buying despite its bullish fundamentals, but WPI suspects trading range lows have been made. The U.S. weather forecast is shifting to favor hot weather for more of the northern U.S. (across the Plains, Upper Midwest, and into the East Coast) in the next two weeks, which comes as corn in the region will be reaching peak pollination. Precipitation remains ample for the Corn Belt this week but turns much drier thereafter. The 6-10-day outlook includes monsoonal moisture into the southwest and southern Plains, offering some drought relief for the former region. Funds were net buye...
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.