The June WASDE was released this morning at its regularly scheduled time of 8:30 a.m. ET. This made it the first WASDE to come out amidst the CME's expanded electronic trading hours. Some in the grain trade feared that this would allow high-speed electronic traders to trade their reactions to the report instantly, giving them an advantage over smaller cash grain interests such as country elevator operators. To address this issue, CME agreed that on the days when WASDEs and other key reports from USDA are to be released, open outcry pit trading will begin 10 minutes before they are to be released. Thus, pit trading began this morning at 7:20 a.m. CT instead of the usual 9:30 a.m. CT. Presumably, this satisfies the previous objections from...
Key Takeaways: President Trump announced $8 billion in additional agricultural assistance through the Harvest Fuel Relief Program, as USDA projects farm fuel and oil expenses will increase 28.8 percent in 2026. The package follows $12 billion in earlier relief, while government farm payments w...
Key Takeaways: A student group from the University of Chicago is protesting to bring back onion futures trading. Trading in onion futures was banned in 1958 following a spectacular bout of market manipulation that resulted in a corner of the physical market. The ban on onion futures led t...
Beef packer margins deteriorated to $141/head last week, down $55 from the prior week as fed cattle prices strengthened while the Choice cutout remained nearly unchanged. The cutout held near $373/cwt while fed cattle prices climbed $4/cwt to $224/cwt, narrowing processor profits. Despite the d...
From WPI Consulting
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.