World Perspectives

Mercosur Regional Analysis

Argentina Export Tax Reform The Argentine government announced a new long-term schedule for reducing export taxes ("retenciones"), one of the main policy tools affecting agricultural profitability and farmer selling decisions. Export taxes are applied directly to export values and have historic...

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feed-grains soy-oilseeds wheat

CFTC COT Report Analysis

Friday’s CFTC report showed funds reducing net long positions across most of the major ag futures contracts for the third straight week. Funds reduced the all-ags net long 169,000 contracts (17 percent), pulling back from the largest net long since at least 2016 forged just three weeks pr...

feed-grains soy-oilseeds livestock

Commodity Policy Being Shaped by Unfolding Farm Crisis

With the war in Iran affecting fuel and fertilizer prices, higher tariffs, weak commodity prices, ag labor constraints, and other factors, farm bankruptcies are now at a 6-year high, a signal of growing stress.  During the month of April, 62 Chapter 12 bankruptcies were filed, which is a 1...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 26 Corn closed at $4.4675/bushel, down $0.09 from yesterday's close.  Jul 26 Wheat closed at $6.105/bushel, down $0.135 from yesterday's close.  Jul 26 Soybeans closed at $11.8675/bushel, down $0.0775 from yesterday's close.  Jul 26 Soymeal closed at $329.8/short ton, down $4...

feed-grains soy-oilseeds wheat

CFTC COT Report Analysis

Friday’s CFTC report showed funds reducing net long positions across most of the major ag futures contracts for the third straight week. Funds reduced the all-ags net long 169,000 contracts (17 percent), pulling back from the largest net long since at least 2016 forged just three weeks pr...

feed-grains soy-oilseeds livestock

Commodity Policy Being Shaped by Unfolding Farm Crisis

With the war in Iran affecting fuel and fertilizer prices, higher tariffs, weak commodity prices, ag labor constraints, and other factors, farm bankruptcies are now at a 6-year high, a signal of growing stress.  During the month of April, 62 Chapter 12 bankruptcies were filed, which is a 1...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 26 Corn closed at $4.4675/bushel, down $0.09 from yesterday's close.  Jul 26 Wheat closed at $6.105/bushel, down $0.135 from yesterday's close.  Jul 26 Soybeans closed at $11.8675/bushel, down $0.0775 from yesterday's close.  Jul 26 Soymeal closed at $329.8/short ton, down $4...

Food Inflation; Last Laugh; MAHA Progress; Offense is Defense

Food Inflation The Open Markets Institute, which is notably funded by several “anonymous” donors and liberal foundations, obtained a guest editorial in the New York Times in which they blame agribusiness concentration for higher grocery prices. This is their schtick and it is politi...

Market Commentary: Risk-off tone hits grains and livestock

What You Need to Know Today: Agricultural commodities were mostly lower on the day, with red-hot soyoil a notable exception. Export sales were a bit underwhelming, particularly for corn with export sales down 52 percent week-over-week. The weakness in ag markets tracked crude oil weakness wit...

Food Inflation; Last Laugh; MAHA Progress; Offense is Defense

Food Inflation The Open Markets Institute, which is notably funded by several “anonymous” donors and liberal foundations, obtained a guest editorial in the New York Times in which they blame agribusiness concentration for higher grocery prices. This is their schtick and it is politi...

Foodflation Coming Home

Since the closure of the Strait of Hormuz in February 2026, energy markets have experienced significant disruptions. Crude oil, diesel fuel, and other petroleum products rose sharply as traders responded to uncertainty in one of the world's most important shipping corridors. The question for fo...

soy-oilseeds

U.S. and Global Soy Crush Forecasts

WPI recently completed an expansion of our methodology for estimating and forecasting U.S. and global soybean crushing margins. The new approach incorporates the energy market’s expanding influence on the oilseed sector and the structural changes in global biofuel demand. This report is i...

FOB Prices and Freight Rates App (Updated 29 May)

WPI Grain Prices and Freight Rate App   Note: you can also visit the app directly by clicking here.   Supplemental Information The section below offers a concise view of the options available in the current version of the WPI FOB Price and Freight Rate app, along with a short “...

feed-grains soy-oilseeds wheat

Market Commentary: Grains and oilseeds see strength on high PCE reading, Crude oil and macros remain topsy-turvy with U.S.-Iran headline risk

What You Need to Know Today:  The U.S. struck Iranian military targets for the second time this week. During a cabinet meeting, President Trump said that the Strait of Hormuz is international waters and will be open to everybody, which appears to be wishful thinking. Control of the Strait...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 26 Corn closed at $4.5575/bushel, up $0.0325 from yesterday's close.  Jul 26 Wheat closed at $6.24/bushel, up $0.015 from yesterday's close.  Jul 26 Soybeans closed at $11.945/bushel, up $0.0925 from yesterday's close.  Jul 26 Soymeal closed at $334.1/short ton, up $3.5 from...

livestock

Livestock Roundup: More Dairy Cow Slaughter Later This Year

A total of 79,000 cows has been added to the dairy herd since last December, which compares to 81,000 head added to the dairy herd over the same period in 2025. This similarity in herd expansion numbers in early 2025 and 2026 has kept dairy cow slaughter at the same level in each of the two yea...

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