World Perspectives
feed-grains wheat

Russia’s Grain Shortfall

Today’s USDA quarterly Grain Stocks report provided the market with a bullish input but there may be another shoe to drop. Russia’s stocks to use ratio for corn and wheat have been dropping for four straight years. Over that timeframe, it is down 64 percent for corn and 48 percent for wheat. Russia has continued to export wheat at low prices despite the tightening supply, but it has increased the export duty on corn by ten-fold, to 2,786.2 rubles ($30)/MT.  Russia has exported aggressively to both earn foreign exchange and build respect from food insecure nations. However, Moscow has concluded that at least when it comes to corn, it needs to cover its own food security needs and prevent domestic food inflation. But wheat a...

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feed-grains soy-oilseeds wheat

Summary of Futures

Mar 26 Corn closed at $4.44/bushel, down $0.005 from yesterday's close.  Mar 26 Wheat closed at $5.105/bushel, down $0.02 from yesterday's close.  Mar 26 Soybeans closed at $10.5625/bushel, down $0.0575 from yesterday's close.  Mar 26 Soymeal closed at $299.5/short ton, down $0.4...

feed-grains soy-oilseeds wheat

Market Commentary: Weaker Crude Oil Sinks CBOT Despite Soybean Sales to China

The CBOT on Tuesday failed to follow Monday’s dramatic technical strength and corn, the soy complex, and wheat all settled lower for the day. A sharp pullback in crude oil prices was primarily responsible for the soy complex weakness as it eliminated a key piece of support for soyoil. In...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean, and Africa Regional Analysis

Mediterranean/Middle East/North Africa/Africa – MEA Region Morocco has established its soft wheat import rebate program for 1 January to 30 April 2026. The actual amount of the import rebate is calculated on the average landed cost versus the government set reference price based on inform...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 26 Corn closed at $4.44/bushel, down $0.005 from yesterday's close.  Mar 26 Wheat closed at $5.105/bushel, down $0.02 from yesterday's close.  Mar 26 Soybeans closed at $10.5625/bushel, down $0.0575 from yesterday's close.  Mar 26 Soymeal closed at $299.5/short ton, down $0.4...

feed-grains soy-oilseeds wheat

Market Commentary: Weaker Crude Oil Sinks CBOT Despite Soybean Sales to China

The CBOT on Tuesday failed to follow Monday’s dramatic technical strength and corn, the soy complex, and wheat all settled lower for the day. A sharp pullback in crude oil prices was primarily responsible for the soy complex weakness as it eliminated a key piece of support for soyoil. In...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean, and Africa Regional Analysis

Mediterranean/Middle East/North Africa/Africa – MEA Region Morocco has established its soft wheat import rebate program for 1 January to 30 April 2026. The actual amount of the import rebate is calculated on the average landed cost versus the government set reference price based on inform...

feed-grains soy-oilseeds wheat

CFTC COT Report Analysis

Monday’s CFTC report showed managed money traders paring back long positions across the ag space for the third straight week as technical conditions deteriorated further. Funds shed 34,000 contracts from their all-ags position last week, with selling in corn and soybeans accounting for mo...

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From WPI Consulting

Illuminating the value of technical research

On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.

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