THE OPEN: Nov beans: 2 higher Dec meal: 1.40 higher Dec soyoil: 16 lower Dec corn: 5 higher Sep wheat: 1 higher The markets opened higher as weaker values overnight firmed into the close and promoted more technical buying activity. Technical price action is firmly in control and it remains strong across the board. Funds added to corn length, and are perhaps in the process of going long beans as well. Hot and dry forecasts and a positive reaction from the crop report yesterday set the stage for the technical advance. Weather remains net bullish as the next best chance for normal conditions is two weeks out. Midwest states need some rainfall as there...
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.