Export Sales for January 21-27, 2022  Wheat:  Net sales of 57,500 metric tons (MT) for 2021/2022 were down 92 percent from the previous week and...

Trading on the CBOT was volatile once again with corn futures marking a 24-cent range while soybeans posted a 38-cent range. The market opened sharply high...

Worst Time The U.S. House Agriculture Committee has begun hearings in preparation for writing the 2023 version of the farm bill. This week’s hearings...

Mar 22 Corn closed at $6.225/bushel, down $0.1225 from yesterday's close.  Mar 22 Wheat closed at $7.55/bushel, down $0.14 from yesterday's close.&nbs...

Canadian Prime Minister Justin Trudeau, responding to protests over a mandate that truckers crossing the border be vaccinated against COVID, says that the...

Russian Grain Markets: 24-28 January 2022 The Russian domestic market grew due to weakening of the ruble. As export duties decreased, it made it possible f...

The CBOT saw another day of soybean-led strength with soybeans and soymeal scoring new contract highs amid a demand-rationing panic. Crops in South America...

Blockchain Food A few years ago, major food system originators and processors began experimenting with blockchain under a system called Food Trust. Now the...

Yesterday, Secretary Tom Vilsack testified at the House Agriculture Committee to Review the State of the Rural Economy - an annual event with only the Secr...

Mar 22 Corn closed at $6.3475/bushel, up $0.0875 from yesterday's close.  Mar 22 Wheat closed at $7.69/bushel, up $0.0775 from yesterday's close. ...

China continues to politically bludgeon Australia’s agriculture, the latest involving the suspension of beef imports from several processing plants D...

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Afghanistan’s agriculture will benefit from a $65 million donation by the Asian Develop...

The CBOT traded a volatile day to start the week, mirroring outside markets’ increased jumpiness. Apparent reductions in geopolitical tensions in the...

Not so Sweet The WTO last month sided with Australia, Brazil, and Guatemala that India’s sugar subsidies were distorting and illegal. India has appea...

USDA released its Cattle Inventory report today. The total inventory of all cattle and calves as of 1 January is 91.1 million head; that compares to 93.8 m...

Mar 22 Corn closed at $6.26/bushel, down $0.1 from yesterday's close.  Mar 22 Wheat closed at $7.6125/bushel, down $0.25 from yesterday's close. ...

Regional News  Russia’s possible invasion of Ukraine remains a huge focus for the markets, though political tensions thawed last week and market...

Beijing proclaims the goal of food self-sufficiency at a 95-percent level on a grain basis but there is inadequate data upon which to judge this feat. Goro...

Regional News Argentina and the IMF On Friday, the government of Argentina and the International Monetary Fund (IMF) announced an initial agreement regardi...

The CBOT rallied on Friday with soybeans and soyoil posting fresh contract highs while corn futures came within 3¾ cents of their contract high. Eve...

USDA will release its semi-annual Cattle Inventory report on Monday estimating the herd size for all cattle and calves as of 1 January 2022. Pre-report exp...

The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity marke...

Mar 22 Corn closed at $6.36/bushel, up $0.1075 from yesterday's close.  Mar 22 Wheat closed at $7.8625/bushel, up $0.0925 from yesterday's close. ...

Food Inflation  The Biden Administration has taken issue with the farm-to-retail spread, arguing it is proof that food companies are too concentrated...

The global oilseeds situation remained on track this past week with supplies tight and prices rising. March soybeans likely added over 50 cents this week,...

Soybeans and soyoil opened in the green and stayed that way all session, setting new contract highs in soyoil and November beans. Corn opened higher but qu...

As Gary Blumenthal mentioned in yesterday’s report, the Sacramento County Superior Court has delayed the implementation of Proposition 12 for 180 day...

Dairy Crisis Fix The U.S. dairy industry has spent decades myopically focused on extracting high prices for milk out of American consumers. The Federal Mil...

Mar 22 Corn closed at $6.2525/bushel, down $0.0175 from yesterday's close.  Mar 22 Wheat closed at $7.77/bushel, down $0.18 from yesterday's close.&nb...

Export Sales for January 14-20, 2022.  Wheat:  Net sales of 676,700 metric tons (MT) for 2021/2022--a marketing-year high--were up 78 percent fro...

The CBOT reversed course from its recent grains-rally-soy-complex-declines playbook as a (minor) thaw in Russia-Ukraine/NATO political tensions sent wheat...

Out COMPETES The U.S. House released a bill today whose proponents say will enable America to compete with China in science and technology. The biggest com...

Mar 22 Corn closed at $6.27/bushel, up $0.07 from yesterday's close.  Mar 22 Wheat closed at $7.95/bushel, down $0.23 from yesterday's close.  Ma...

Livestock Live Hog Prices Up More than 2 Percent as Holiday Approaches With the lunar holiday around the corner, most slaughterhouses closed this week, whi...

Argentina has moved into the lowest price leader position for corn, but its price has started tracking higher - lest money be left on the table. Romanian a...

Russian Grain Markets: 17-21 January 2022 The Russian domestic market fluctuated as it grew significantly in the beginning but then decreased. We see a mod...

The CBOT saw the continued influence of fund managers and investors looking to bull spread commodities against equities, as well as the impact of (continua...

One of the biggest issues in agriculture over the past half a dozen years has been the Waters of the United States (WOTUS) rule – and more generally,...

Mar 22 Corn closed at $6.2/bushel, down $0.01 from yesterday's close.  Mar 22 Wheat closed at $8.18/bushel, up $0.175 from yesterday's close.  Ma...

Misleading Farm Statistics Jonathan Kanter, the Biden Administration’s Assistant Attorney General overseeing the Antitrust Division, told the New Yor...

The markets are nervous over potential impacts from geopolitics, especially the potential actions by Russia in Ukraine. The past is not necessarily prologu...

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Turkish flour miller Ulusoy Un Sanayi has received $25 million in six year debt facility from...

December total red meat and poultry stocks were up from November but remained down 11.2 percent from December 2020. Once again, total pork and poultry stoc...

As expected, the weekend’s developments in the Black Sea drove market action to start the week. Over the weekend, U.S. and Russian diplomats ended di...

Fossil Fuel Foibles Fossil fuels and agriculture are highly integrated, including via fuel, chemical inputs, and commodity fund valuations. Thus, it is imp...

Mar 22 Corn closed at $6.21/bushel, up $0.0475 from yesterday's close.  Mar 22 Wheat closed at $8.005/bushel, up $0.205 from yesterday's close. ...

COVID revealed the raw underbelly of the U.S. food manufacturing industry. While politicians are blaming consolidation and greed for the disrupted supply c...

Thinking back a little more than a decade ago, the Obama Administration proposed the “cap and trade” energy policy to develop more alternative...

Corn Argentina Last week’s heatwave in Argentina was as bad with temperatures above 40C (104F) and strong winds in many places. By the week’s e...

Regional News  Grain markets in Europe and the Black Sea remain dominated by one factor: the looming possibility that Russia will invade Ukraine. Dipl...

U.S. Cattle on Feed Up 1 Percent: Cattle on feed for the slaughter in the United States for feedlots with capacity of 1,000 or more head totaled 12.0 mill...

Mar 22 Corn closed at $6.1625/bushel, up $0.0525 from yesterday's close.  Mar 22 Wheat closed at $7.8/bushel, down $0.1025 from yesterday's close.&nbs...

The CBOT traded a mixed day to end a volatile and mostly bullish week. Corn and lean hog futures rallied with March corn posting a new seven-month high and...

USDA released its monthly cattle on feed report; it was on the bearish side with record placements for December that were well above pre-report expectation...

The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity marke...

WTF Trade Policy USTR Katherine Tai spoke to other leaders at the World Economic Forum this week and made the following comments: Rather than seeking a re...

Export Sales USDA’s Export Sales report released this morning reflected larger export sales across many commodities, including the soy complex. Net s...

Export Sales for Jan 7, 2022 – Jan 13, 2022 Wheat:  Net sales of 380,600metric tons (MT) for 2021/2022 were up 44 percent from the previous week...

With little new in the fundamentals to move the market it is instead being pushed by inflation and geopolitics. Funds are buying on both measures going int...

Mar 22 Corn closed at $6.11/bushel, up $0.005 from yesterday's close.  Mar 22 Wheat closed at $7.9025/bushel, down $0.0625 from yesterday's close.&nbs...

There is still some slack in the beef processing sector, reportedly related to the Omicron variant and labor availability. Cattle slaughter today was 116,0...

Chemical Wars Falling in line with President Andres Manuel Lopez Obrador’s order to end the use of glyphosate in 2024, Mexico’s National Counci...

Livestock Squeeze of Low Prices and High Feed Costs Plagues Hog Sector The latest data release from China’s Feed Industry Association indicates that...

The CBOT traded sharply higher on Wednesday with Tuesday’s rallies in corn and wheat sparking follow-through fund and speculative buying. Moreover, t...

China Status Quo A piece in Bloomberg makes note that the White House has focused on other issues (voting rights, Build Back Better spending) but has said...

The Buenos Aires Grain Exchange announced that the average yield for Argentina’s 2021/22 wheat crop will be 3.44 MT/hectare. That is the highest yiel...

Mar 22 Corn closed at $6.105/bushel, up $0.11 from yesterday's close.  Mar 22 Wheat closed at $7.965/bushel, up $0.275 from yesterday's close.  M...

Russian Grain Markets: 10-14 January 2022 The Russian domestic market prices changed insignificantly and mainly in southern regions that are more sensitive...

The CBOT came back from its three-day holiday to find soyoil crashing lower under technical selling and position liquidation. The day’s soymeal trade...

Mar 22 Corn closed at $5.995/bushel, up $0.0325 from yesterday's close.  Mar 22 Wheat closed at $7.69/bushel, up $0.275 from yesterday's close. ...

The House Agriculture Committee will hold a hearing on Thursday to Review the State of the Rural Economy. This is an annual hearing, and the sole witness w...

Subsidizing Poor Governance Development assistance goes to some very needy nations, but it may also enable corrupt political regimes to persevere when they...

Nothing is more important to commodity markets than the larger economy. First, the U.S. economy was headed toward secular stagnation, then it was worrisome...

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Tunisian officials say the country has sufficient stocks of soft wheat, durum, and barley to...

The CBOT/CME markets will be closed Monday, 17 January 2022 in observance of the Martin Luther King Jr. holiday. WPI’s offices will be closed as well...

The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity marke...

The CBOT was mostly lower in low-volume, pre-holiday trade. Monday is a holiday in the U.S. and the CBOT/CME (and WPI’s offices) will be closed. Nota...

Mar 22 Corn closed at $5.9625/bushel, up $0.0875 from yesterday's close.  Mar 22 Wheat closed at $7.415/bushel, down $0.0525 from yesterday's close.&n...

Ethanol RINs dropped this week on news reports that EPA might consider lowering the 15 billion gallon required volume obligation (RVO) for 2022. This came...

WFH Productivity There have been plenty of studies about the impacts on productivity of work from home (WFH) during COVID. They usually show mixed results...

This year’s La Niña event has been categorized as historically a moderate one. The rains coming to parts of South America this weekend attest...

Most of the current changes are on the supply side of the ledger. This week’s USDA WASDE has come and gone but its effects linger. The agency’s...

The market opened lower for grains and oilseeds and for most contracts that was the consistent direction of the day. The bearish tone of yesterday’s...

Last week we noted the impact of Omicron on slaughter rates; as of today, cattle slaughter is up about 1 percent, hog slaughter is down about 3.5 percent,...

Inflation Whiff Kiev is not just battling a Russian-led insurrection in the Donbas but is also trying to fight food inflation, which hit 11.3 percent in 20...

Mar 22 Corn closed at $5.875/bushel, down $0.115 from yesterday's close.  Mar 22 Wheat closed at $7.4675/bushel, down $0.11 from yesterday's close.&nb...

Export Sales for Dec 31, 2021 – Jan 6, 2022. Wheat:  Net sales of 264,400 metric tons (MT) for 2021/2022 were up noticeably from the previous we...

Today’s CBOT trade was all about the WASDE with markets trading quietly lower before the report’s noon ET release. The report, while mostly in-...

The analytics company CultureX says that people are more likely to quit their jobs due to a toxic workplace culture than due to their salary. That may be t...

What’s in a Name Proponents of geographic indicators in Europe are upset that DG-Agri may be planning to hand over more regulatory oversight of the G...

Mar 22 Corn closed at $5.99/bushel, down $0.02 from yesterday's close.  Mar 22 Wheat closed at $7.5775/bushel, down $0.125 from yesterday's close.&nbs...

U.S. soybean oil price forecast is unchanged at 65.0 cents per pound...

U.S. soybean meal price is projected at $375 per short ton, up 45 dollars...

U.S. soybean ending stocks for 2021/22 are raised 10 million bushels to 350 million. The U.S. season-average soybean price for 2021/22 is forecast at $12.6...

U.S. corn ending stocks for 2021/22 are raised 47 million bushels to 1,540 million. The season-average corn price received by producers is unchanged at $5...

Macroeconomics Food Inflation Reverses Course, Falls in December With pork prices continuing to remain well below their averages from a year ago, food cost...

U.S. wheat ending stocks for 2021/22 are raised 30 million bushels to 628 million.  The season-average farm price is raised $0.10 per bushel to $7.15...

Russian Grain Markets: 3-7 January 2022 The first week of January was holiday season, as usual, so it was impossible to register any changes on the Russian...

The CBOT turned higher on the last day of pre-WASDE trading as continued short covering in wheat and a bullish response to CONAB’s new production dat...

Trade negotiations are a long, slow process, marked in many cases by small steps on the way to broader market access and more robust trade. A good reminder...

Fake Pork Trade USTR Katherine Tai announced that bilateral negotiations had resulted in India opening its market to imports of U.S. pork. This past year,...

Mar 22 Corn closed at $6.01/bushel, up $0.0125 from yesterday's close.  Mar 22 Wheat closed at $7.7025/bushel, up $0.0825 from yesterday's close. ...

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  MEA region grain importers will face lower Russian export quotas in 2022 – 8 MMT of whe...

The price of palm oil has been rising since the start of 2021, reaching a local price roughly double the average of the previous dozen years. Production in...

CBTO trade on Monday was all about positioning for Wednesday’s WASDE report from USDA. Traders took out some of the weather premium that was bid into...

Beef with Oil The Biden Administration dislikes the oil industry as much or more than Big Beef. After stating the goals of ending drilling on public lands,...

Mar 22 Corn closed at $5.9975/bushel, down $0.07 from yesterday's close.  Mar 22 Wheat closed at $7.62/bushel, up $0.035 from yesterday's close. ...

Investors are most interested in maximizing their return on capital. It is notable that across 97 different industries, the agrifood sector is a mixed bag...

On 7 December, EPA announced its proposed required volume obligations (RVO) rules which gained much attention. What gained less attention was the regulator...

Argentina’s Wheat/Corn Trust The Argentine government is being creative in trying to control inflation rates. They are trying to control local wheat...

Regional News  Ukraine’s grain exports for MY 2021/22 total 33.5 MMT, up 23 percent from the same period last year. Of that, wheat accounts for...

The CBOT turned higher heading into the weekend with soybeans and soymeal posting big rallies near mid-day. Soybeans and soymeal pushed above technical res...

The U.S. has not used the gold standard since 1933, when the Emergency Banking Act forced Americans to give up gold and convert their holdings to dollars...

Real Food Sovereignty Activists and their populist politicians in rich, developed countries have an answer for reforming agriculture – small farms us...

The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity marke...

As the trading week closed out, the soy complex incurred another series of impressive gains largely driven by production uncertainties in South America. Th...

Mar 22 Corn closed at $6.0675/bushel, up $0.03 from yesterday's close.  Mar 22 Wheat closed at $7.585/bushel, up $0.125 from yesterday's close. ...

Corn and cattle opened down but settled up; soyoil opened up but closed down with the rest of the complex; and wheat never saw the light of day. The ration...

Russian President Vladimir Putin complains that NATO is a threat to Russia and seeks a buffer to establish states but the nations he wants to isolate from...

The increased number of cases of the Omicron variant of COVID has been weighing somewhat on the cattle markets this past week. There is general chatter abo...

Mar 22 Corn closed at $6.0375/bushel, up $0.015 from yesterday's close.  Mar 22 Wheat closed at $7.46/bushel, down $0.1475 from yesterday's close.&nbs...

Livestock Major Live Hog Companies Target Increased Capacity in 2022 Even with live hog prices down year-on-year by 54.8 percent and the corn-hog ratio in...

Export Sales for December 24-30, 2021 Wheat:  Net sales of 48,600 metric tons (MT) for 2021/2022--a marketing-year low—were down 76 percent from...

The CBOT traded a mixed day with wheat and corn futures posting losses on moderate fund selling and buyers’ more cautious approach amid increased vol...

Mar 22 Corn closed at $6.0225/bushel, down $0.0725 from yesterday's close.  Mar 22 Wheat closed at $7.6075/bushel, down $0.0925 from yesterday's close...

The Biden Administration is charging the meat packing industry with exploitation for elevated beef prices. Beef is certainly not the only industry with ris...

Government Meat Plants President Biden criticized the meat industry for what he termed “exploitation.” The term is a formal part of case law un...

Russian Grain Markets: 27-31 December 2021 The last week of December on the Russian grain market was very calm. General trends were downward. Market player...

Mar 22 Corn closed at $6.095/bushel, up $0.2025 from yesterday's close.  Mar 22 Wheat closed at $7.7/bushel, up $0.12 from yesterday's close.  Ma...

The second trading day of the new year started modestly enough. Corn and soybeans were up a nickel, soymeal was in the hole. Then with a burst of volume co...

There has been much discussion and focus on the weather conditions in South America, and Brazil in particular where it has been dry across the central and...

Biden’s Beef to Nowhere In 2005, members of the Alaska Congressional delegation tried to add funding equivalent in today’s inflation-adjusted d...

Berry Marttin at Rabobank notes that agricultural commodity prices have risen 28 percent over the past year and are 40 percent above pre-pandemic levels. L...

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Syria is facing a water crisis in the northeast that it blames on Turkey. Dams on the Euphrat...

The CBOT started the week on a strong note with continued drought forecast across South America offering support Sunday night. March soybeans ended the ove...

The Biden Administration today held a roundtable to discuss the details of its Action Plan for a Fairer, More Competitive, and More Resilient Meat and Poul...

La Niña events are not infrequent and should provide some level of predictability. However, there is wide variability in each event, seed genetics c...

Mar 22 Corn closed at $5.8925/bushel, down $0.04 from yesterday's close.  Mar 22 Wheat closed at $7.58/bushel, down $0.1275 from yesterday's close.&nb...

The Biden Administration announced a $1 billion program to incentivize “independent processing capacity” in the meat industry. Noting the irony...

Wheat In the last two weeks, amid drought and sunny, warm weather, Argentina’s wheat harvest moved fast and reached almost 90 percent of the planted...

Mar 22 Corn closed at $5.9325/bushel, down $0.0275 from yesterday's close.  Mar 22 Wheat closed at $7.7075/bushel, down $0.09 from yesterday's close.&...

Today’s trading went as expected with a low volume of business but that does not obviate the high interest in agricultural commodities as we move int...

GE Labeling  Starting in 2022, the U.S. will have mandatory labeling of foods with detectable amounts of genetically modified content. WPI emphasizes...

The CBOT came under pressure Thursday from a combination of end-of-year profit taking and rains that are pushing into southern Brazil. Traders were eager t...

At the end of the year, thoughts are turning to the future – not just 2022, but the longer term as well. USDA released its preliminary long-term outl...

Export Sales for December 17-23, 2021. Wheat:  Net sales of 199,500 metric tons (MT) for 2021/2022 were down 53 percent from the previous week and 43...

Mar 22 Corn closed at $5.96/bushel, down $0.095 from yesterday's close.  Mar 22 Wheat closed at $7.7975/bushel, down $0.08 from yesterday's close.&nbs...

Market volatility has risen with Covid and its latest iteration Omicron but has thus far underplayed the current security risks playing out in Eastern Euro...

Mar 22 Corn closed at $6.0475/bushel, down $0.1 from yesterday's close.  Mar 22 Wheat closed at $7.835/bushel, down $0.205 from yesterday's close.&nbs...

Today’s trading opened like a continuation of the day before. Wheat corn and soy all opened lower with just the livestock complex in a more bullish m...

House Agriculture Committee Chairman David Scott (D-Georgia) has indicated that negotiations for the farm bill will start in the very early weeks of 2022...

Mar 22 Corn closed at $6.0475/bushel, down $0.1 from yesterday's close.  Mar 22 Wheat closed at $7.835/bushel, down $0.205 from yesterday's close.&nbs...

It now looks like Omicron is manageable, which supports macros and ethanol but otherwise there are few new commodity market inputs. That led to an opportun...

Welcome back from the holiday. The latest weather reports have not brightened prospects for crops in Argentina and southern Brazil and weather premium was...

Mar 22 Corn closed at $6.1475/bushel, up $0.09 from yesterday's close.  Mar 22 Wheat closed at $8.04/bushel, down $0.1075 from yesterday's close. ...

Financial markets will be closed tomorrow, December 24, for Christmas Eve. As a result, there will be no Ag Perspectives report tomorrow. WPI wishes everyo...

The CBOT was mostly higher in pre-Christmas trade with soymeal once again leading the soy complex higher, though huge soyoil export sales supported that ma...

USDA released a trifecta of livestock reports today. First, the much-awaited quarterly hogs and pigs report. Pre-report expectations were for a bullish rep...

Mar 22 Corn closed at $6.0575/bushel, up $0.0325 from yesterday's close.  Mar 22 Wheat closed at $8.1475/bushel, up $0.0075 from yesterday's close.&nb...

President Biden and his economic team attacked the U.S. meat industry this year for being greedy. Meanwhile, he has politely asked the oil industry to plea...

Livestock Tariff on Imported Pork Set to Rise to Help Domestic Industry Even with China’s national reproductive sow inventory falling to 43 million h...

Export Sales for December 10-16, 2021. Wheat:  Net sales of 425,400 metric tons (MT) for 2021/2022 were down 35 percent from the previous week, but up...

The futures market has seemingly given U.S. farmers and commodity producers (e.g., soy crushers) a gift with another day of pre-holiday rallies. The CBOT s...

November total red meat and poultry stocks were down from October and fell 11.3 percent from November 2020. Once again, pork and chicken stocks posted five...

When the EU and the African Union meet in February, Brussels will reportedly encourage the AU to adopt Europe’s Green Deal/Farm to Fork strategy in a...

Mar 22 Corn closed at $6.025/bushel, up $0.0425 from yesterday's close.  Mar 22 Wheat closed at $8.14/bushel, up $0.15 from yesterday's close.  J...

Diabolical Plan USTR issued a blistering report regarding Russia’s increasingly protectionist trade policy. It accused Moscow of employing localizati...

Russian Grain Markets: 13-17 December 2021 Russian grain market wheat prices decreased at higher rates than during the previous week due to growing grain e...

Receding concerns about another round of economic lockdowns from the Omicron COVID-19 variant sent macro-markets and the CBOT higher on Tuesday. News broke...

Which Way Chile Analysts are pondering the future of Chile now that it has elected socialist Gabriel Boric as its next president. Boric campaigned to end n...

Syria’s wheat production collapsed this year, but it was not due to the nearly decade-long civil war. The FAO cites three causes: 1) drought; 2) high...

It’s a holiday shortened week, but a big week for livestock reports from USDA. On Thursday, the quarterly Hogs and Pigs report comes out. (We’v...

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Egypt’s Agricultural Bank is putting up EGP 4 billion (about U.S. $254 million) “...

Fresh concerns about the global Omicron coronavirus variant sent energy and macro-markets sharply lower on Monday, and the “risk off” mentality...

Exports point to climate change as the cause of the plateauing in global crop production but no where is it more apparent than in coffee production. Brazil...

Mar 22 Corn closed at $5.91/bushel, down $0.0225 from yesterday's close.  Mar 22 Wheat closed at $7.7775/bushel, up $0.0275 from yesterday's close.&nb...

BBB Blowback Although word yesterday that U.S. Senator Joe Manchin’s rejection of President Biden’s Build Back Better (BBB) Act appears to be l...

Inflation is a hot topic lately; it is the reason why the Fed has signaled it will raise interest rates three times next year. Moreover, it is why Senator...

Regional News  Concerns about the frost-tolerance of the Black Sea wheat crop are growing after the EU Commission confirmed last week that a late star...

Export Quota Update Finally, the Argentine government implemented a so-called “new” system to control wheat and corn exports. The “new&rd...

The CBOT traded a mostly higher day with corn and soybeans pushing closer to major resistance at $6.00 and $13.00, respectively. Funds were net buyers and...

The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity marke...

Russian Ultimatum Russian President Vladmimir Putin just provoked the transatlantic strategy on managing his country’s possible aggression in Eastern...

The November edition of the Purdue University/CME Ag Economy Barometer shows that November was the lowest index of the year to date at 116 – down 51...

Mar 22 Corn closed at $5.9325/bushel, up $0.02 from yesterday's close.  Mar 22 Wheat closed at $7.75/bushel, up $0.045 from yesterday's close.  J...

Supply While the global supply of oilseeds and products is tight, it could get tighter or looser. The least likely factor to reduce demand and thus loosen...

The market appeared to be half asleep at the start of today’s session. Corn and wheat were up relatively modestly for a while until wheat shot up to...

The quarterly Hogs and Pigs report comes out one week from today. It is a much- anticipated report. Feed costs, porcine reproductive and respiratory syndro...

Mar 22 Corn closed at $5.9125/bushel, up $0.055 from yesterday's close.  Mar 22 Wheat closed at $7.705/bushel, up $0.145 from yesterday's close. ...

Tripping Up Shipping The shelves are not bare before Christmas, but somethings remain in short supply. Political success means saving the day and some drea...

Export Sales for Dec 3-9, 2021. Wheat:  Net sales of 650,600 metric tons (MT) for 2021/2022--a marketing-year high--were up noticeably from the previo...

March 22 Corn ($/bu) $5.8575 March 22 Wheat ($/bu) $7.5600 March 22 Hard Red Winter ($/bu)     $7.8550 March Hard Red Spring ($/bu) $10.0925...

CBOT and KCBT wheat led the way lower on Wednesday with heavy “risk off” and liquidation trade pushing the markets to 25-30 cent/bushel losses...

Inflation Truth The U.S. Federal Reserve sent a strong signal today that inflation is endemic in the economy and that strong action is needed to bring it u...

In the past three years, India has switched from being the number four exporter of sugar in the world to number two. Over the past dozen years, its domesti...

Macroeconomics Food Inflation Sees First Uptick Since May After five consecutive months of declines, food prices in the aggregate rose by 1.6 percent on an...

Russian Grain Markets: 6-10 December 2021 Russian grain market wheat prices continue to decrease. Export milling wheat average offer price decreased to $33...

The CBOT largely reversed course from Monday’s trade with corn, soybeans, and soymeal all turning higher while wheat settled lower and soyoil extende...

Food Better Than Healthcare While the healthcare sector has been called a miracle for the way it has handled the pandemic, the food industry has been criti...

The Bureau of Labor Statistics (BLS) released the Producer Price Index (PPI) today, the primary measure of inflation for manufacturers and producers. The P...

Mar 22 Corn closed at $5.9025/bushel, up $0.0525 from yesterday's close.  Mar 22 Wheat closed at $7.87/bushel, down $0.0175 from yesterday's close.&nb...

Ukraine has become an important supplier of corn over the past decade, increasing its exports by 155 percent. However, its share of the global market has o...

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Egypt reports that current wheat reserves will cover consumption for 5.3 months. Egypt’...

The CBOT traded a mixed day with weekend rains in South America creating pronounced risk-off selling in soybean futures. The market will have to see how lo...

Next Trade War The EU Commission is moving forward on its goal of ensuring that constraints imposed on European producers will also be applied to imports...

Mar 22 Corn closed at $5.85/bushel, down $0.05 from yesterday's close.  Mar 22 Wheat closed at $7.8875/bushel, up $0.035 from yesterday's close. ...

As WPI covered earlier this year, the Biden Administration’s reconciliation bill proposed major changes to capital gains taxes, including an increase...

Potatoes have taken a dietary beating for being a basic starch that raises blood sugar as fast as pure glucose. By contrast, whole wheat contains complex s...

Milling Wheat  World wheat markets are under pressure from USDA’s December WASDE, which increased global 2021/22 ending stocks due to larger pro...

Wheat Argentina  Argentina’s wheat harvest is 54 percent complete after advancing 8.5 percent last week. Yields in the center and south of the a...

The CBOT ended mixed in two-sided trade on Friday with the lack of significant changes in Thursday’s WASDE leaving the markets somewhat directionless...

The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity marke...

GMO Debate Over Mark Twain may have said that a lie travels around the globe while the truth is putting on its shoes and the adage is truer today than ever...

There was a lot to sort through on Tuesday’s RVO announcement. Below is a look at some key issues.  SREs: There has been a lot of media coverage...

Mar 22 Corn closed at $5.9/bushel, down $0.0175 from yesterday's close.  Mar 22 Wheat closed at $7.8525/bushel, up $0.085 from yesterday's close. ...

A summary of the bullish and bearish supply, demand and policy machinations affecting the global oilseeds sector. Supply Bullish Argentina: Soybean planted...

Export Sales for Nov 26 to Dec 2,2021.  Wheat:  Net sales of 239,900 metric tons (MT) for 2021/2022 were up noticeably from the previous week, bu...

Soyoil: USDA’s December 2021 estimate is for soyoil to average 65 cents per pound in the 2021/22 season. ...

Soymeal: USDA’s December 2021 estimate is for meal price to increased $5.00 to $330.00 per short ton...

Soybeans: USDA’s December 2021 estimate is unchanged from last month. Soybean crush is unchanged but soybean oil production is raised on a higher ext...

Corn: USDA’s December 2021 estimate is unchanged from last month. The projected season-average farm price remains at $5.45 per bushel. Global coarse...

WHEAT: USDA’s December 2021 estimate is for a small increase in U.S. ending stock because exports are lowered 20 million bushels. U.S. export prices...

USDA seems to never cease disappointing some traders’ expectations. USDA characterized its December WASDE report as containing “minor” ch...

Mar 22 Corn closed at $5.9175/bushel, up $0.045 from yesterday's close.  Mar 22 Wheat closed at $7.7675/bushel, down $0.1775 from yesterday's close.&n...

Congressional Reform The U.S. Congress is held in general low regard by the American public. Seen as petty, partisan and dysfunctional, the institution doe...

Today’s WASDE shows total red meat and poultry production finishing the year slightly below last month’s forecasts, though up 0.3 percent from...

Wheat futures sank lower the day before the December WASDE on concerns that the USDA will cut its U.S. export forecast in the coming report. Certainly, the...

The U.S./Canada and Europe have increased pesticide usage only slightly over the past two decades whereas South America’s usage has grown by almost 1...

Wishful Thinking The EU is developing a new trade policy intended to rapidly respond to “coercive measures” by third countries, such as Donald...

Mar 22 Corn closed at $5.8725/bushel, up $0.0125 from yesterday's close.  Mar 22 Wheat closed at $7.945/bushel, down $0.14 from yesterday's close.&nbs...

Livestock Muyuan’s Credit Default Sends Shockwave Through Industry Based on recent reports from the Shanghai Commercial Paper Exchange (SHCPE), more...

Russian Grain Markets: 29 November-3 December 2021 Russian grain market wheat prices decreased mainly due to downward trends on international wheat markets...

Corn and wheat turned higher on Tuesday while the soy complex sold off despite strength in palm oil futures. Rumors that the EPA will soon announce its bio...

EPA released its 2022 proposed required volume obligations (RVO) under the RFS along with the retroactive 2021 volumes and an adjustment to the 2020 volume...

Corruption Focus The Biden Administration will emphasize its Strategy on Countering Corruption at this week’s Summit for Democracy. Shell companies w...

Mar 22 Corn closed at $5.86/bushel, up $0.025 from yesterday's close.  Mar 22 Wheat closed at $8.085/bushel, up $0.0225 from yesterday's close. ...

Everyone knows China loves pork, but its new affinity is dairy. Throughout Chinese history, dairy was mostly associated with nomadic tribes, like the dread...

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Pakistan has agreed that the transportation of 50,000 MT wheat from India to Afghanistan, via...

Mar 22 Corn closed at $5.835/bushel, down $0.005 from yesterday's close.  Mar 22 Wheat closed at $8.0625/bushel, up $0.025 from yesterday's close.&nbs...

The CBOT traded mostly lower to start the week with soymeal dragging soybeans lower, despite a slight rise in soyoil futures. Corn rebounded from the day&r...