World Perspectives

Market Commentary: War Moves Oil. Weather Moves Grain.

If Wednesday’s trade proved anything, it is that not every market is listening to the same headline. Renewed fighting between the U.S. and Iran sent crude oil sharply higher after Iran fired ballistic missiles at an American airbase in Jordan. President Trump promised a U.S. response, pus...

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feed-grains soy-oilseeds wheat

Summary of Futures

Dec 26 Corn closed at $4.7175/bushel, down $0.0875 from yesterday's close.  Sep 26 Wheat closed at $6.6075/bushel, down $0.0175 from yesterday's close.  Nov 26 Soybeans closed at $11.9275/bushel, down $0.2725 from yesterday's close.  Dec 26 Soymeal closed at $323.5/short ton, dow...

feed-grains livestock farm-inputs

Small Ruminants: A Global Protein System the U.S. Market Has Yet to Price In

Executive Summary Sheep and goats represent one of the largest livestock protein systems in the world, with an estimated 2.3 billion head globally; however, they remain almost entirely absent from U.S. agricultural policy, trade strategy, and market forecasting. The U.S. small ruminant herd, at...

feed-grains soy-oilseeds wheat

Black Sea Regional Analysis

Russian Grain Markets: 20–24 July 2026 Bearish sentiment dominated the Russian grain market as the new harvest accelerated and supplies increased. Prices also weakened in eastern Russia ahead of harvest, reflecting expectations of ample supplies and Kazakhstan's import ban on Russian whea...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 26 Corn closed at $4.7175/bushel, down $0.0875 from yesterday's close.  Sep 26 Wheat closed at $6.6075/bushel, down $0.0175 from yesterday's close.  Nov 26 Soybeans closed at $11.9275/bushel, down $0.2725 from yesterday's close.  Dec 26 Soymeal closed at $323.5/short ton, dow...

feed-grains livestock farm-inputs

Small Ruminants: A Global Protein System the U.S. Market Has Yet to Price In

Executive Summary Sheep and goats represent one of the largest livestock protein systems in the world, with an estimated 2.3 billion head globally; however, they remain almost entirely absent from U.S. agricultural policy, trade strategy, and market forecasting. The U.S. small ruminant herd, at...

feed-grains soy-oilseeds wheat

Black Sea Regional Analysis

Russian Grain Markets: 20–24 July 2026 Bearish sentiment dominated the Russian grain market as the new harvest accelerated and supplies increased. Prices also weakened in eastern Russia ahead of harvest, reflecting expectations of ample supplies and Kazakhstan's import ban on Russian whea...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 26 Corn closed at $4.805/bushel, up $0.065 from yesterday's close.  Sep 26 Wheat closed at $6.625/bushel, up $0.025 from yesterday's close.  Nov 26 Soybeans closed at $12.2/bushel, up $0.0625 from yesterday's close.  Dec 26 Soymeal closed at $327.8/short ton, up $3.7 from yes...

Sorghum’s Growing Role in Ethanol Production

Key Takeaways: Sorghum is gaining importance as an alternative ethanol feedstock, particularly in the Southern Plains where ethanol plants can utilize the grain based on relative pricing and availability compared to corn. Sorghum’s drought tolerance makes it a valuable alternative to cor...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 26 Corn closed at $4.805/bushel, up $0.065 from yesterday's close.  Sep 26 Wheat closed at $6.625/bushel, up $0.025 from yesterday's close.  Nov 26 Soybeans closed at $12.2/bushel, up $0.0625 from yesterday's close.  Dec 26 Soymeal closed at $327.8/short ton, up $3.7 from yes...

feed-grains soy-oilseeds wheat

Market Commentary: Grains Rally as Crop Ratings Fall; Global Shipping Becomes More Perilous

What You Need to Know Today: Shipping in the Black Sea is at a standstill, with neither Ukraine nor Russia yet ready to swerve in this game of maritime and export brinkmanship. Israeli media suggests the U.S. and Iran may be close to making a deal or at least restoring the memorandum of unders...

More Doors, Same Dollars: The QSR Share Fight

Just when it seemed the restaurant industry had finally moved beyond the pandemic disruption, the arithmetic of the American food dollar caught up with it. The National Restaurant Association projects that total restaurant and foodservice sales will reach a record $1.55 trillion in 2026, but on...

feed-grains soy-oilseeds livestock

Brazil’s Emergence as a Major Pork Exporter

Key Takeaways: Brazil’s pork exports have more than doubled since 2019 as competitive feed costs, ASF-free status, and expanding global demand have strengthened the country’s position in international markets. Brazil’s abundant domestic production of corn and soybeans provide...

feed-grains wheat biofuel

Banning Glyphosate Could be Expensive

The Make America Healthy Again (MAHA) movement has reached a critical point after the Supreme Court ruled on 25 June that Bayer is shielded from state-level lawsuits because federal regulation does not require the company to warn of alleged cancer risks from such products. Thousands of "failure...

livestock

Livestock Industry Margins

Beef packer margins continued to recover for a third consecutive week, improving $67/head to -$63/head as fed cattle prices fell about $30 in the past 5 weeks. The Choice cutout slipped another $5/cwt to $367/cwt, but fed cattle prices fell an even steeper $12/cwt to $365/cwt (dressed), allowin...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean, and Africa Regional Analysis

Mediterranean/Middle East/North Africa/Africa – MEA Region Morocco and Kazakhstan are looking at ways to expand their grain import/export programs, according to details of a recent meeting in Casablanca. Kazakhstan has grain (mainly wheat) and flour exports of 15.3 MMT and is looking at n...

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