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

May 26 Corn closed at $4.6975/bushel, up $0.065 from yesterday's close.  May 26 Wheat closed at $6.08/bushel, up $0.0375 from yesterday's close.  May 26 Soybeans closed at $11.685/bushel, up $0.0675 from yesterday's close.  May 26 Soymeal closed at $332.5/short ton, up $10.8 from...

feed-grains soy-oilseeds wheat

Export Sales

Export Sales and Shipments for March 6-12, 2026. Wheat: Net sales of 189,900 metric tons (MT) for 2025/2026 were down 58 percent from the previous week and 36 percent from the prior 4-week average. Export shipments of 383,100 MT were down 11 percent from the previous week and 7 percent from the...

feed-grains soy-oilseeds wheat

Market Commentary: Energy Pulls Futures Higher, For Now

Tomorrow is Nowruz (spring equinox), the Persian New Year, but there will likely be no break from the war. There continued to be upward price pressure on grains and oilseeds, chasing the spike in fossil fuel prices. There may be ample fertilizer for Northern Hemisphere crops nearing planting ti...

feed-grains soy-oilseeds wheat

Summary of Futures

May 26 Corn closed at $4.6975/bushel, up $0.065 from yesterday's close.  May 26 Wheat closed at $6.08/bushel, up $0.0375 from yesterday's close.  May 26 Soybeans closed at $11.685/bushel, up $0.0675 from yesterday's close.  May 26 Soymeal closed at $332.5/short ton, up $10.8 from...

feed-grains soy-oilseeds wheat

Export Sales

Export Sales and Shipments for March 6-12, 2026. Wheat: Net sales of 189,900 metric tons (MT) for 2025/2026 were down 58 percent from the previous week and 36 percent from the prior 4-week average. Export shipments of 383,100 MT were down 11 percent from the previous week and 7 percent from the...

feed-grains soy-oilseeds wheat

Market Commentary: Energy Pulls Futures Higher, For Now

Tomorrow is Nowruz (spring equinox), the Persian New Year, but there will likely be no break from the war. There continued to be upward price pressure on grains and oilseeds, chasing the spike in fossil fuel prices. There may be ample fertilizer for Northern Hemisphere crops nearing planting ti...

feed-grains soy-oilseeds biofuel

45Z: The Next Big Thing or the Next Big Mess?

The U.S. Treasury Department is (still!) working on the Section 45Z Clean Fuel Production Tax Credit.  The broad legislative effort for the act was launched in President Biden’s Inflation Reduction Act and picked up with some significant adjustments in President Trump’s One Big...

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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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