World Perspectives

Market Commentary: Contract Highs to Start September; Demand Destruction is the Point

What You Need to Know Today: The EPA offered an extension for 2025 RSF compliance reporting from 1 September 2026 to 1 October 2026 and announced decisions on requests to exempt 34 small refineries from the requirements. The U.S. is stepping up attacks against Iran after two tankers carrying c...

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feed-grains soy-oilseeds wheat

Summary of Futures

Dec 26 Corn closed at $5.46/bushel, up $0.0825 from yesterday's close.  Dec 26 Wheat closed at $7.825/bushel, up $0.085 from yesterday's close.  Nov 26 Soybeans closed at $13.1775/bushel, up $0.2975 from yesterday's close.  Dec 26 Soymeal closed at $352.6/short ton, up $7.3 from...

soy-oilseeds biofuel energy

EPA Grants 29 SREs, but Reallocation is the Story

Key Takeaways: EPA granted full or partial Small Refinery Exemptions to 29 of the 34 petitions under consideration, removing approximately 1.76 billion RINs from 2025 compliance obligations, roughly 770 million more RINs than EPA had previously anticipated. The larger exemption total does not...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean, and Africa Regional Analysis

Mediterranean/Middle East/North Africa/Africa – MEA Region Egypt, at the end of July, is once again the largest importer of maize from Brazil at about 2.6 million MT from January to July — followed by Iran at 1.1 MMT, Algeria at 665,000 MT, Saudi Arabia at 435,000 MT, and Israel at...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 26 Corn closed at $5.46/bushel, up $0.0825 from yesterday's close.  Dec 26 Wheat closed at $7.825/bushel, up $0.085 from yesterday's close.  Nov 26 Soybeans closed at $13.1775/bushel, up $0.2975 from yesterday's close.  Dec 26 Soymeal closed at $352.6/short ton, up $7.3 from...

soy-oilseeds biofuel energy

EPA Grants 29 SREs, but Reallocation is the Story

Key Takeaways: EPA granted full or partial Small Refinery Exemptions to 29 of the 34 petitions under consideration, removing approximately 1.76 billion RINs from 2025 compliance obligations, roughly 770 million more RINs than EPA had previously anticipated. The larger exemption total does not...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean, and Africa Regional Analysis

Mediterranean/Middle East/North Africa/Africa – MEA Region Egypt, at the end of July, is once again the largest importer of maize from Brazil at about 2.6 million MT from January to July — followed by Iran at 1.1 MMT, Algeria at 665,000 MT, Saudi Arabia at 435,000 MT, and Israel at...

livestock

Livestock Industry Margins

Beef packer margins improved sharply to $258/head last week, up $145 from the prior week as the Choice cutout strengthened while fed cattle prices declined. The cutout rose to nearly $382/cwt, while fed cattle prices fell to $219/cwt, extending the rapid recovery in packer spreads that began in...

EPA Announces 2025 SREs under the RFS: 1.76 Billion RINs

On Monday, 31 August, the U.S. Environmental Protection Agency (EPA) announced decisions for 34 small refinery exemption (SRE) petitions under the Renewable Fuel Standard (RFS) program for 2025. In consultation with the U.S. Department of Energy (DOE), EPA reviewed and considered information su...

livestock

Livestock Industry Margins

Beef packer margins improved sharply to $258/head last week, up $145 from the prior week as the Choice cutout strengthened while fed cattle prices declined. The cutout rose to nearly $382/cwt, while fed cattle prices fell to $219/cwt, extending the rapid recovery in packer spreads that began in...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 26 Corn closed at $5.3775/bushel, up $0.0125 from yesterday's close.  Dec 26 Wheat closed at $7.74/bushel, down $0.1 from yesterday's close.  Nov 26 Soybeans closed at $12.88/bushel, up $0 from yesterday's close.  Dec 26 Soymeal closed at $345.3/short ton, down $3.6 from yest...

feed-grains soy-oilseeds wheat

Market Commentary: Grains Drift on Profit Taking but Trend-Higher Regime Remains in Place

What You Need to Know Today: End-of-month profit taking sent the CBOT broadly lower, though corn and soybeans managed to post small gains to continue their rallies. Turkey’s foreign ministry claimed to have a plan to ensure safe passage for both Ukrainian and Russian grain vessels via th...

feed-grains soy-oilseeds wheat

WPI Crop Progress and Conditions App (Updated 31 August)

Developer's Note 24 August 2026:  WPI recently completed an exercise that updated the codebase for this app and solved some of the discrepancies between our five-year average calculation and USDA's. There are a few lingering cases where early (late) starts (finishes) to the crop cycle resu...

feed-grains soy-oilseeds wheat

Tightening Supplies and Strong Demand Fuel a Grain Market Rally

Key Takeaways: Corn and soybean prices rallied sharply last week as declining U.S. production expectations collided with strong demand, raising the prospect of tighter supplies and leaving the market with a smaller margin for further yield losses. The USDA’s lower August yield estimates...

livestock

Trump Targets Meat Packing Sector with Latest Beef Announcement

As WPI reported on 21 August and on 27 August, President Trump has announced a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported without out-of-quota tariffs, which stand at 26.4 percent, allowing them in at 4.4 cents per kg, a move aimed at bring...

feed-grains soy-oilseeds wheat

Mercosur Regional Analysis

Corn Argentina The 2026/27 Argentine corn planting outlook remains broadly stable, with the Buenos Aires Grain Exchange projecting 8.4 Mha, unchanged from 2025/26. Regional shifts are expected to largely offset each other, with lower acreage in the NOA and NEA due to renewed concerns over Dalbu...

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