The current rally in wheat futures is widely known to be driven by fund buying in response to the conflict in the Middle East. Part of the price gains has...
Articles
Summary of Futures
May 26 Corn closed at $4.62/bushel, down $0.05 from yesterday's close. May 26 Wheat closed at $6.05/bushel, up $0 from yesterday's close. May 2...
Grassley and Smith Introduce Meat Industry Consolidation Bill
Previously, on 24 March, WPI wrote about fertilizer consolidation and an effort by Majority Leader John Thune to introduce mandatory price reporting for fe...
Transportation Perspectives - 27 March
President Trump’s announcement on Monday this week that the U.S. would postpone any attacks on Iranian energy facilities for five days increased hope...
Export Sales
Export Sales and Shipments for March 13-19, 2026. Wheat: Net sales of 397,200 metric tons (MT) for 2025/2026 were up noticeably from the previous wee...
Summary of Futures
May 26 Corn closed at $4.67/bushel, down $0.0025 from yesterday's close. May 26 Wheat closed at $6.05/bushel, up $0.0725 from yesterday's close. ...
Market Commentary: War Worries Continue to Drive the Narrative
War-related higher energies are a mixed story for ags. They could stymie economic growth and thus demand, but they open the door for better biofuel sales...
Why Beef and Pork Prices May Fall Despite Strong Demand
Beef prices dropped sharply this week, with the Choice cutout down about $11/cwt in the past six trading days. The move unnerved live cattle futures on Wed...
Livestock Roundup: Quarterly Hogs and Pigs Report
USDA released its quarterly hogs and pigs report today. The inventory of all hogs and pigs on 1 March was 74.3 million head, up slightly from March 2025 bu...
Transportation Perspectives - 26 March
President Trump’s announcement on Monday this week that the U.S. would postpone any attacks on Iranian energy facilities for five days increased hope...
Summary of Futures
May 26 Corn closed at $4.6725/bushel, up $0.0475 from yesterday's close. May 26 Wheat closed at $5.9775/bushel, up $0.0775 from yesterday's close.&nb...
Market Commentary: Demand Builds, Markets Await Confirmation
Key Market Developments Macro: Playing or Trading “Truth or Dare” We’ve entered the “truth or dare” phase of this market &md...
Early 2026 Projections of Cow-Calf Finances
Cow-calf margins hit all-time record highs in 2025 as the industry benefited from the downstream impacts of record-breaking beef demand and the smallest be...
Iran War Impacts; Trade Agreements
Iran War Impacts Confidence in the economy is often tied to partisan politics, with Democrats seeing green when they control the White House, and Republica...
Black Sea Regional Analysis
Russian Grain Markets: 16–20 March 2026 During the second week of February, the Russian grains market showed a sharp divergence between domestic and...
Summary of Futures
May 26 Corn closed at $4.625/bushel, up $0.03 from yesterday's close. May 26 Wheat closed at $5.9/bushel, up $0.0225 from yesterday's close. Ma...
Market Commentary: Diminishing Energy Impacts on CBOT Trade
Tuesday’s energy markets took back about half of Monday’s losses as tensions in the Arab Gulf flared again, despite recent announcements of dip...
China Market Analysis
Balanced Trade Bilateral trade in both directions between the U.S. and China has slowed, but Chinese Premier Li Qiang told last week’s meeting of the...
Thune Introduces Fertilizer Price Reporting Bill
The war in Iran has brought the four-year simmering focus on fertilizer prices to a quick boil. Senate Majority Leader John Thune (R-South Dakota) in...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Egypt has seen a sharp rise in wheat prices due to increased shipping costs and the 9 perc...
Livestock Industry Margins
Beef packer margins improved further, with estimated net returns increasing to $126/head from $48/head the prior week. The gains were driven by another fir...
Summary of Futures
May 26 Corn closed at $4.595/bushel, down $0.06 from yesterday's close. May 26 Wheat closed at $5.8775/bushel, down $0.075 from yesterday's close.&nb...
Market Commentary: Oil and Iran Conflict Still in Drivers’ Seat, but This Time Creating Pressure
Volatility has been no stranger to the CBOT these past three weeks, and the one consistency during this time has been the dramatic coupling of ag markets&r...
WTO Realism; Reindustrialization; Canadian Ego
WTO Realism The WTO’s 14th Ministerial Conference begins later this week, and while some have high hopes, pragmatists understand the elongated nature...