SPREADS March crush falls to 91.52c/bu while oilshare falls to 32.89%. March/May corn trades from 2 3/4c to 3 1/4c carry, while July/Dec corn prices could invert more on talk that the US will export a record amount of corn Jan 2021. July /Dec corn now trades from 15 3/4c inverse to 16 3/4c. March/May wheat trades from 2 3/4c carry to 3 1/4c. Jan/March bean spread narrows back into 4 3/4c from 5 1/4c as this is now day 3 of the Goldman Roll. March wheat/corn trades under 1.50c to new lows at 1.46 1/2c. PALM OIL Feb. down 10 ringgits at 3,356 ring/mt. NEWS The Dow is up 94 pts as crude oil trades to new highs of $46.24 /barrel. The US dollar trades down top 90.69. DELIVERIES wheat:&...
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.