World Perspectives

Supreme Court Ruling on Tariffs: Out with Old, In with New

Last Thursday, the Supreme Court of the United States upheld a lower court ruling that the tariffs imposed under the International Emergency Economic Powers Act (IEEPA) were “contrary to the law.” However, as President Trump noted, the opinion remained silent on the issue of rebating those tariffs. USTR Jameson Greer stated that refunds are up to the court, which has not provided any guidance, and when Treasury Secretary Scott Bessent was asked about refunds, he had no comment. This is still being worked out and will take some time. Expect much confusion and chaos as that gets straightened out. U.S. Customs and Border Protection (CBP) has notified importers that it will no longer collect import tariffs under IEEPA beginning 12:0...

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Market Commentary: Soybeans Rally on PNW Export Rumors; Grains Ease on Profit Taking

The soy complex was the upside leader again on rumors of Chinese purchases of U.S. soybeans from the PNW, as well as some harvest and quality issues in Brazil. Soyoil continued to find support from hopes that the EPA will release its biofuel policy obligations in the coming few days, though no...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 26 Corn closed at $4.2775/bushel, up $0.0025 from yesterday's close.  May 26 Wheat closed at $5.7325/bushel, down $0.005 from yesterday's close.  May 26 Soybeans closed at $11.5525/bushel, up $0.055 from yesterday's close.  May 26 Soymeal closed at $314.4/short ton, up $1.9 f...

livestock

Livestock Industry Margins

Beef packer margins deteriorated sharply last week, with estimated net margins falling to -$330.80/hd, down $60.58/hd week over week. The Choice cutout held nearly flat at $365.62/cwt, but fed cattle prices continued to climb, with live steers at $246.91/cwt and dressed prices surging to $387.9...

feed-grains soy-oilseeds wheat

Market Commentary: Soybeans Rally on PNW Export Rumors; Grains Ease on Profit Taking

The soy complex was the upside leader again on rumors of Chinese purchases of U.S. soybeans from the PNW, as well as some harvest and quality issues in Brazil. Soyoil continued to find support from hopes that the EPA will release its biofuel policy obligations in the coming few days, though no...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 26 Corn closed at $4.2775/bushel, up $0.0025 from yesterday's close.  May 26 Wheat closed at $5.7325/bushel, down $0.005 from yesterday's close.  May 26 Soybeans closed at $11.5525/bushel, up $0.055 from yesterday's close.  May 26 Soymeal closed at $314.4/short ton, up $1.9 f...

livestock

Livestock Industry Margins

Beef packer margins deteriorated sharply last week, with estimated net margins falling to -$330.80/hd, down $60.58/hd week over week. The Choice cutout held nearly flat at $365.62/cwt, but fed cattle prices continued to climb, with live steers at $246.91/cwt and dressed prices surging to $387.9...

feed-grains soy-oilseeds wheat

Market Commentary: SCOTUS Ruling, South America Weather Send CBOT Lower

The CBOT turned lower on Monday, with the back-and-forth action of the Supreme Court and President Trump regarding tariffs on foreign imports driving volatility. For the ag markets, the biggest impact of the SCOTUS ruling seems to be doubts that China will adhere to its soybean purchase plan, a...

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From WPI Consulting

Weighing in on strategic realignment

WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.

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