World Perspectives
feed-grains soy-oilseeds wheat

Are Commodity Prices Ignoring Global Stocks?

WPI recently received a question from a client asking, in effect, if global crop prices have become immune – or at least less sensitive – to changes in global crop ending stocks. The reasoning offered was the perception that corn futures are becoming less responsive to declining global corn ending stocks/use (ESU) ratios, or global stocks excluding China. Evidence of this supposed phenomenon was a chart showing global corn stocks excluding China on one y-axis and CBOT corn futures on the other y-axis. The chart, which we were unable to republish but created a similar graph below, appeared to show that CBOT futures once held a strong, negative correlation to world ex-China ESU ratios, but that correlation was dissipating over the...

Related Articles
feed-grains soy-oilseeds wheat

Export Sales

Export Sales and Shipments for August 8-14, 2025 Wheat: Net sales of 519,800 metric tons (MT) for 2025/2026 were down 28 percent from the previous week and 25 percent from the prior 4-week average. Export shipments of 360,600 MT were up 6 percent from the previous week, but down 30 percent from...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 25 Corn closed at $4.1175/bushel, up $0.0775 from yesterday's close.  Dec 25 Wheat closed at $5.2975/bushel, up $0.015 from yesterday's close.  Nov 25 Soybeans closed at $10.56/bushel, up $0.2 from yesterday's close.  Dec 25 Soymeal closed at $294.2/short ton, down $3 from ye...

livestock

Livestock Roundup: Cattle on Feed Preview

USDA’s monthly Cattle on Feed report will be released tomorrow. Analysts’ pre-report consensus estimates are for the total inventory on feed to be 98.1 percent of last year with the range of estimates between 97.4 and 98.6 percent of 1 August 2024. Those estimates imply an on-feed i...

feed-grains soy-oilseeds wheat

Export Sales

Export Sales and Shipments for August 8-14, 2025 Wheat: Net sales of 519,800 metric tons (MT) for 2025/2026 were down 28 percent from the previous week and 25 percent from the prior 4-week average. Export shipments of 360,600 MT were up 6 percent from the previous week, but down 30 percent from...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 25 Corn closed at $4.1175/bushel, up $0.0775 from yesterday's close.  Dec 25 Wheat closed at $5.2975/bushel, up $0.015 from yesterday's close.  Nov 25 Soybeans closed at $10.56/bushel, up $0.2 from yesterday's close.  Dec 25 Soymeal closed at $294.2/short ton, down $3 from ye...

livestock

Livestock Roundup: Cattle on Feed Preview

USDA’s monthly Cattle on Feed report will be released tomorrow. Analysts’ pre-report consensus estimates are for the total inventory on feed to be 98.1 percent of last year with the range of estimates between 97.4 and 98.6 percent of 1 August 2024. Those estimates imply an on-feed i...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 25 Corn closed at $4.04/bushel, up $0.0075 from yesterday's close.  Dec 25 Wheat closed at $5.2825/bushel, up $0.07 from yesterday's close.  Nov 25 Soybeans closed at $10.36/bushel, up $0.0225 from yesterday's close.  Dec 25 Soymeal closed at $297.2/short ton, up $1.3 from ye...

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From WPI Consulting

Accountability and a comprehensive approach to export programming

WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.

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