Bears were in control of the CBOT for the second straight day with very few bullish news items seeming to exist on the horizon. Between improving weather forecasts for the Northern Hemisphere, lower threat of a La Nina this year, strong harvest progress in the U.S., large crop forecasts for Bra...
Planned Website Downtime Wednesday, 16 October
WPI is completing a series of upgrades to our website that will require about 50 minutes of downtime on Wednesday, 16 October starting at 12:00 PM EDT. There is never a “good” time for a website to be down, but this was deemed to be among the least disruptive to our U.S. and interna...
WPI Crop Progress and Conditions App (Updated 15 October)
Update for 1 April 2024: Last year, users pointed out differences between the 5-year averages reported in this app and what USDA estimates in its weekly report. The difference exists because WPI calculates average based on the last 5 years of observations for the current week. In cases where ob...
Red Meat and Poultry Situation
As WPI reported last week, the October WASDE increased its projection for beef production by 205 million pounds on higher slaughter and heavier carcass weights and increased the 2025 forecast for beef production by 300 million pounds. Nonetheless, October slaughter is starting slowly. Total sla...
Planned Website Downtime Wednesday, 16 October
WPI is completing a series of upgrades to our website that will require about 50 minutes of downtime on Wednesday, 16 October starting at 12:00 PM EDT. There is never a “good” time for a website to be down, but this was deemed to be among the least disruptive to our U.S. and interna...
WPI Crop Progress and Conditions App (Updated 15 October)
Update for 1 April 2024: Last year, users pointed out differences between the 5-year averages reported in this app and what USDA estimates in its weekly report. The difference exists because WPI calculates average based on the last 5 years of observations for the current week. In cases where ob...
Red Meat and Poultry Situation
As WPI reported last week, the October WASDE increased its projection for beef production by 205 million pounds on higher slaughter and heavier carcass weights and increased the 2025 forecast for beef production by 300 million pounds. Nonetheless, October slaughter is starting slowly. Total sla...
Farm Subsidies on the March
Subsidies can increase output and there are many ways to subsidize an industry, but that doesn’t mean that countries should do it. Cost of Production: The EU badly wants to become self-sufficient in plant protein. More than four decades ago Europe lost a dispute settlement cas...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Algeria decided to bar French companies from its wheat import tenders due to France’s support for Morocco’s continued sovereignty over the Western Sahara region. All tender participants have been advis...
Farm Subsidies on the March
Subsidies can increase output and there are many ways to subsidize an industry, but that doesn’t mean that countries should do it. Cost of Production: The EU badly wants to become self-sufficient in plant protein. More than four decades ago Europe lost a dispute settlement cas...
Summary of Futures
Dec 24 Corn closed at $4.0125/bushel, down $0.07 from yesterday's close. Dec 24 Wheat closed at $5.795/bushel, down $0.0575 from yesterday's close. Nov 24 Soybeans closed at $9.91/bushel, down $0.05 from yesterday's close. Dec 24 Soymeal closed at $311.8/short ton, down $3.5 f...
Market Commentary: Bears Gain Control; Soybeans End Below $10, Corn Breaks Support
Bears regained control of the CBOT ag market trade on Monday, seemingly not because of the WASDE but rather because of shifting weather forecasts and apparently receding threats. The weather in South America is trending more favorably for the corn and soybean crops down there, and showers in th...
Politics: Will 2024 Election Yield an Unprecedented Triple Flip?
The 2024 election is three weeks from tomorrow. This cycle has been unusual. The campaign started as a Biden versus Trump rematch of the 2020 campaign, the first such rematch since 1956 (only the seventh time in history and only the second time since 1900). However, President Biden stepped down...
European Market Analysis
Regional News Political tensions between Algeria and France reportedly prompted the former country to exclude its traditionally favored European trading partner from a recent wheat purchase tender. Algeria in its latest tender specifically requested no submissions from France and purchase...