SPREADS Most of the price action Friday and over the next 4 days is likely to be that of index fund spread activity. March corn futures were down 47,492 contracts Fri. with May up 29,245 contracts. Total open interest in March corn stands at 549,785 vs. May at 329,633. March bean open interest was down 17,790 contracts with May up 16,629. March bean open interest stands at 321,739 vs. May at 209,015. July/Dec corn trades from 1 1/4c to 2c while March/May trades from 4 3/4c to 5 1/2c. July/Nov beans trades from 10c to 10 3/4c, and vs. wider values week ago. March/May beans trades from 12 3/4c to 13 1/4. March wheat/corn trades from 1.73 1/2c to 1.79c . May crush falls to 98c/bu as...
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
Illuminating the value of technical research
On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.