World Perspectives
wheat

WASDE Wheat

Wheat - USDA’s April 2025 estimates are for increased U.S. wheat imports by 10 million bushels to 150 million - the largest since 2017/18. Domestic consumption is forecast 2 million bushels lower on reduced seed use. U.S. wheat exports are lowered 15 million bushels to 820 million. As a result, projected 2024/25 ending stocks are raised 27 million bushels to 846 million, 22 percent above the previous year. The season average farm price is unchanged at $5.50 per bushel.  Global wheat stocks for 2024/25 are the lowest since 2015/16.  ...

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feed-grains soy-oilseeds wheat

Market Commentary: Lots of Uncertainties Except Certain Problems with China

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feed-grains soy-oilseeds wheat

Summary of Futures

Dec 25 Corn closed at $4.13/bushel, down $0.0525 from yesterday's close.  Dec 25 Wheat closed at $4.985/bushel, down $0.08 from yesterday's close.  Nov 25 Soybeans closed at $10.0675/bushel, down $0.155 from yesterday's close.  Dec 25 Soymeal closed at $275/short ton, down $1.9 f...

Reconciliation Bill Increases Crop Payments

The reconciliation bill signed into law on 4 July, aka the One Big Beautiful Bill, increased statutory reference prices under the Agricultural Risk Payments (ARC) and Price Loss Coverage (PLC) programs and made some changes to the effective reference prices (ERP) which are used to calculate pay...

feed-grains soy-oilseeds wheat

Market Commentary: Lots of Uncertainties Except Certain Problems with China

There was no reversal of yesterday’s decline in commodity markets. The trend is your friend, and that beat out thoughts of a technical reversal. The market was down at the open and then came even more bearish outside influences.  Commodity and financial market prices plunged as the t...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 25 Corn closed at $4.13/bushel, down $0.0525 from yesterday's close.  Dec 25 Wheat closed at $4.985/bushel, down $0.08 from yesterday's close.  Nov 25 Soybeans closed at $10.0675/bushel, down $0.155 from yesterday's close.  Dec 25 Soymeal closed at $275/short ton, down $1.9 f...

Reconciliation Bill Increases Crop Payments

The reconciliation bill signed into law on 4 July, aka the One Big Beautiful Bill, increased statutory reference prices under the Agricultural Risk Payments (ARC) and Price Loss Coverage (PLC) programs and made some changes to the effective reference prices (ERP) which are used to calculate pay...

soy-oilseeds

What Spreads and Basis Are Saying About Soybean Exports

The government shutdown has entered its tenth day, leaving the grain markets without two weeks of export data. Fortunately, the USDA AMS and FGIS continue to publish the weekly Export Inspections report, leaving the grain industry not totally blind to exports. Even so, that report covers only a...

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From WPI Consulting

Communicating importance of value-added products

Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.

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