The CBOT was mixed with continued weakness in the soy complex as soybeans and soymeal broke technical support levels. Soyoil traded a volatile day and ende...

The Biden Administration announced that it will ensure enforcement of the Phase One trade deal with China but that will not be much of a challenge when it...

As we reported last Thursday, the Senate passed a continuing resolution – i.e., a temporary funding bill to keep the government from shutting down at...

Dec 21 Corn closed at $5.4075/bushel, down $0.0075 from yesterday's close.  Dec 21 Wheat closed at $7.565/bushel, up $0.0125 from yesterday's close.&n...

Same Old with China U.S. Trade Representative Katherine Tai detailed today how the Biden Administration would largely continue the status quo approach to C...

Wheat Argentina’s wheat harvest has started in the northern tip of the country, which was most affected by this year’s drought. Recently, hot t...

Milling Wheat  World wheat prices continue to rally after USDA surprised the market with smaller-than-expected U.S. 2020/21 ending stocks last week. A...

THE OPEN November beans:  7 lower December meal: 1.40 lower December soyoil:  15 higher December corn:  3/4 lower December wheat:  6 hi...

GOOD MORNING, Prices started the PM session lower with corn prices slowly recovering led by wheat.    Harvest proceeds forward as trading volumes...

SPREADS Dec crush trades to 1.22c/bu while oilshare trades at 47.24%.   Dec/March corn trades 8 1/4c to 8 1/2c, Dec 21/22 inverse trades down to...

The CBOT largely followed the trends set yesterday by the Grain Stocks and Small Grains Summary reports. Wheat rallied sharply and posted near-30-cent gain...

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

Lump of Coal About 17 countries plus the EU presently have national carbon pricing. Some countries are threatening border taxes to prevent so-called carbon...

Dec 21 Corn closed at $5.415/bushel, up $0.0475 from yesterday's close.  Dec 21 Wheat closed at $7.5525/bushel, up $0.2975 from yesterday's close.&nbs...

On 26 July, WPI wrote about the Department of Commerce decision to consider countervailing duties (CVD) and anti-dumping duties (AD) on imports of urea amm...

Rising energy prices should have an impact on global GDP growth in 2021, though the ratio has been declining. Over the past 20 years, expenditures on energ...

THE OPEN November beans: 2 lower December meal:  1.60 higher December soyoil: 12 lower December corn:  6 higher December wheat:  12 higher T...

GOOD MORNING, Prices for the soy complex are mixed, with beans lower, products trading both sides.   Oilshare is seeing some profit-taking on the...

SPREADS Dec crush trades higher to 1.11c/bu, which will incentivize crushers to do all they can.  Oilshare trades higher to 47.0%.  Dec/March cor...

The NASS stocks report initially felt like a bomb had dropped but after the trade assessed the situation with a clearer head, markets came back off their l...

The Senate passed, by a vote of 65-35, a temporary funding bill to keep the government from shutting down at midnight tonight, the last day of the fiscal y...

Dec 21 Corn closed at $5.3675/bushel, down $0.0225 from yesterday's close.  Dec 21 Wheat closed at $7.255/bushel, up $0.1525 from yesterday's close.&n...

Whether Buenos Aires or Washington, politicians are finding a practical middle to prevent all out failure.  In Argentina, after a devastating blow ear...

U.S. Soy Export Sales and Exports Update Today’s USDA/FAS export sales report indicated exporters had a positive week selling U.S. soybeans for expor...

THE OPEN Nov beans:  4 higher Dec meal:  1.60 lower Dec soyoil:  90 higher Dec corn:  4 higher Dec wheat: 9 higher The markets opened a...

USDA Reports for Sept 17-23, 2021: Wheat:  Net sales of 290,100 metric tons (MT) for 2021/2022 were down 19 percent from the previous week and 30 perc...

SPREADS Dec crush trades higher to 1.03c/bu while oilshare trades firmer as well to 46.20%.  Dec/March corn trades from 7 3/4c carry to 8c.  Dec...

GOOD MORNING, The markets continue to put on good rallies.  Features overnight include higher oilshare and soyoil strength, (on the back of strong pal...

The CBOT ended higher on Wednesday after a mixed overnight session gave way to day-session gains. Outside markets recovered some of yesterday’s losse...

Dec 21 Corn closed at $5.39/bushel, up $0.065 from yesterday's close.  Dec 21 Wheat closed at $7.1025/bushel, up $0.0375 from yesterday's close. ...

Pragmatism versus Philosophy Farmers are generally conservative when it comes to government, except when it involves benefits for themselves. This is playi...

Livestock Chinese Live Hog Market Facing More Challenges     Despite recent market optimism that improved genetics and a better stream of ne...

Concerns about inflation exceeding transitory terms have increased in recent days but it was reported yesterday that inventories of consumer goods have sta...

For 23 years, WPI’s monthly AgReview publication has provided in-depth analysis of markets and policy. Responding to changes in both business economi...

Russian Grain Markets: 20-24 September 2021 Prices for grain crops (except for corn) in the domestic Russian market increased but at a more moderate rate t...

THE OPEN Nov beans:  2 higher  Dec meal:  .20 higher Dec soyoil:  32 higher Dec corn:  3 higher Dec wheat:  7 higher The mark...

GOOD MORNING,  Prices were mixed overnight but gradually turned higher led by wheat, as traders seem more pre-occupied by what is going on in outside...

SPREADS Dec crush trades 1.03c/bu while oilshare is steady at 45.78%.  Dec/March corn trades out to 8 1/4c from 7 3/4c while the Dec 21/22 inverse fal...

The CBOT turned lower on Tuesday with the U.S. Congressional battle over the debt ceiling, spending packages, and anything else the two parties can argue a...

The global barley market is only about one-eighth the size of the corn market but to major exporters (France, Russia, Australia, Canada) and to major impor...

There are more rumors circulating about potential cuts in the require volume obligations (RVOs) for biofuels. Those stories have certainly gained the atten...

U.S. – EU Agreement Although France was balking at agreeing to the 17-page transatlantic agreement, tomorrow’s meeting of the U.S. – EU T...

THE OPEN Nov beans:  5 3/4 lower Dec meal:  1.40 lower Dec soyoil:  15 lower Dec corn: 1/2 lower Dec wheat:  1 higher The markets opene...

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Pakistan sees a wheat cargo of 59,700 MT arrive with another 58,000 MT to arrive this week. T...

SPREADS Dec crush trades up to 1.00c/bu while oilshare trades to 45.98%.  Spreads trade from 7 1/2c to 7 3/4c for Dec/March, while Dec 21/22 inverse t...

GOOD MORNING, The markets have put in a good rally as we head into the Sep. 1 Quarterly Stocks report.   Corn rallied on any number of items, inc...

Confirmation of a 300,000+ MT sale of soybeans to China, plus rumors of continued interest from Chinese buyers, put a bid under the CBOT on Monday. Corn fu...

Meat Maneuvers The U.S. Cattlemen’s Association asked USDA to opine on whether alternative proteins such as cell-cultured products could be labeled a...

Dec 21 Corn closed at $5.395/bushel, up $0.1275 from yesterday's close.  Dec 21 Wheat closed at $7.2225/bushel, down $0.015 from yesterday's close.&nb...

The December corn contract rose 2.4 percent today and WTI Crude was up 1.7 percent. The corn price is rising in the middle of otherwise bearish indicators...

Corn Despite stable FAS prices near $200-205/MT, Argentina’s market saw traded volume decrease. Even so, October is almost here, and farmers have sol...

This week will be pivotal on Capitol Hill. Much of President Biden’s agenda – the American Families Plan (43.5 trillion budget reconciliation b...

THE OPEN Nov beans:  2 higher Dec meal:  2.00 higher Dec soyoil:  50 lower Dec corn:  1/2 lower Dec wheat:  1 lower The markets op...

Regional News  The United Nations is tendering for 200,000 MT of milling wheat on behalf of the Ethiopian government with a submission deadline of 8 O...

SPREADS Dec crush trades to 93.70c/bu while oilshare trades to 45.51%.  Spreads are firmer with Dec/March corn trading from 7 1/2c to 7 3/4c, while De...

GOOD MORNING, Prices opened on a mixed note overnight, higher beans and wheat, lower corn.  Weather is wide open for harvest.  Soyoil futures ope...

Cattle on feed totaled 11.2 million head on September 1, 2021. The inventory was 1 percent below September 1, 2020. This is the second highest September 1...

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 mixed in low-volume trade to end the week. Chicago wheat was the upside leader, though few contracts followed that market’s lead. Corn a...

USDA released its quarterly hogs and pigs report today with most all categories coming in below pre-report expectations. Total inventory was 75.4 million h...

Dec 21 Corn closed at $5.2675/bushel, down $0.025 from yesterday's close.  Dec 21 Wheat closed at $7.2375/bushel, up $0.06 from yesterday's close.&nbs...

Wine over Beer Policymakers hoping to compel the citizenry into drastic actions to cut carbon emissions have poured cold water on their messaging with the...

In agriculture, there are major and minor crops. This seemingly disparaging characterization relates solely to the amount of acreage utilized. Minor crops...

THE OPEN Nov beans: 3 lower Dec meal:  .20 lower Dec soyoil:  5 lower Dec corn: 1 lower Dec wheat: 1/2 lower The markets opened lower on a cautio...

GOOD MORNING, Prices were mixed in the evening, higher for beans and soyoil with corn struggling and all turning in the red by the AM hour.  Soyoil pr...

SPREADS Dec crush trades up to 91.20c/bu while oilshare trades higher to 45.55%.   Dec/March trades from 7 1/2c to 8c, while Dec 21/22 trades fro...

The market opened soft with wheat and soyoil as leaders and the rest in the hole, but a route was found out of the hole by everything but soymeal and feede...

Tomorrow, USDA will release two important reports: the monthly Cattle on Feed Report and the quarterly Hogs and Pigs Inventory.   Analysts’...

Dec 21 Corn closed at $5.2925/bushel, up $0.0375 from yesterday's close.  Dec 21 Wheat closed at $7.1775/bushel, up $0.12 from yesterday's close. ...

Killing CBAM European Commission Executive Vice President Frans Timmerman says that the Carbon Border Adjustment Mechanism would not apply to Japan due to...

U.S. Soy Export Sales Highlights Today’s USDA/FAS export sales report for the week ending 16 September indicated exporters of U.S. soybeans and soyme...

Livestock Chinese Live Hog Price Decline Accelerates After Holiday     The fall optimism that emerged mid-summer with respect to the return...

THE OPEN Nov beans:  2 higher Dec meal: 1.10 lower Dec soyoil:  40 higher Dec corn: 2 lower Dec wheat:   4 higher The markets opened as...

For the period September 10-16, 2021. Wheat:  Net sales of 355,900 metric tons (MT) for 2021/2022 were down 42 percent from the previous week, but up...

SPREADS Dec oilshare trades to 45.20% while crush trades up to 89.85c.  Dec/March corn narrows into 7 1/4c from 7 1/2c.  Dec 21/22 trades from 24...

GOOD MORNING, Prices are mixed with wheat and soyoil leading the way in strength.  The PM session featured more congestion trade as harvest rolls on a...

The CBOT finished higher on Wednesday with corn and soyoil trading a volatile day with rumors and reports of new EPA biofuel requirements and suspicions of...

Bulgaria is headed toward record crops this year with wheat output more than doubling since joining the EU. However, the overall record for countries joini...

August total red meat and poultry stocks were steady compared to July but down 14.3 percent from August 2020. Once again, beef, pork, chicken, and turkey s...

Today's China analysis is delayed due to the country's Harvest Moon Festival which delayed delivery of current data. ...

Blinding Reality UN’s Food Systems Summit opens tomorrow and like much else about the institution, it proves to be a bust. It started with the usual...

Dec 21 Corn closed at $5.255/bushel, up $0.085 from yesterday's close.  Dec 21 Wheat closed at $7.0575/bushel, up $0.155 from yesterday's close. ...

THE OPEN Nov beans:  9 higher Dec meal:  .20 lower Dec soyoil:  120 pts higher Dec corn:  4 higher Dec wheat:  10 higher Prices op...

Russian Grain Markets: 13-17 September 2021 Prices for grain crops in the domestic Russian market mainly increased. In the Ural region and in some areas in...

GOOD MORNING, Prices started the evening on a tentative note, but beans, wheat, and soyoil prices rallied into the morning hours taking corn along with it...

SPREADS Dec crush is 88.65% with oilshare at 44.83%.  Spreads are wider with Dec/March corn trading from 7 /34c to 8 1/2c carry, while Dec 21/Dec 22 t...

The CBOT was mixed on Tuesday with soybeans grinding lower and breaking support early in the day before rumors of Chinese purchases pushed the market to a...

As the two-year China-U.S. Phase One trade agreement nears its final months, and seasonal exports trend up, what China does for the rest of the year has be...

Double Exposure In a concept paper yesterday at the WTO, the U.S. outlined its lessons from the pandemic in terms of a more resilient planet. Notably missi...

THE OPEN Nov beans:  3 higher  Dec meal:  1.30 higher Dec soyoil:  15 higher Dec corn:  1 lower  Dec wheat:  4 lower Pri...

The theme of the pandemic has been the need for reshoring and diversification of supply chains to strengthen future resilience from such black swan events...

GOOD MORNING, Prices overnight continue to trend lower for grains, while attempting to put in some stabilization trade for soyoil and beans.   Ou...

SPREADS Dec crush trades to 89c while oilshare trades to 44.76%.  Dec/March corn carry trades from 8c to 8 1/4c, while Dec 21/22 trades from 20c inver...

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Morocco is forecast by USDA-FAS to be importing about 4.5 MMT of wheat in 2021/22 – dow...

The CBOT was lower to start the week with widespread “risk off” trade taking place in light of weaker macro markets. U.S. and world stocks were...

Dec 21 Corn closed at $5.2175/bushel, down $0.055 from yesterday's close.  Dec 21 Wheat closed at $7.0075/bushel, down $0.08 from yesterday's close.&n...

Reap What you Sow French President Emmanuel Macron withdrew his ambassadors to the U.S. and Australia over the shift of a submarine purchase from his count...

There was a lot of activity last week in preparation for the upcoming United Nations climate meeting to be held in Glasgow, including a new U.S.-EU methane...

Milling Wheat  World wheat markets are steady/higher this week after futures markets rallied despite the September WASDE’s addition of 4 MMT to...

Corn It’s been an interesting week for the corn market with significant volumes traded. Almost every exporter has been pushing for grain, paying up f...

Last week, USDA Secretary Tom Vilsack charged the U.S. meat industry with unethically profiting off of Americans during the pandemic. A charge totally refu...

THE OPEN Nov beans:  17 lower Dec meal:  2.80 lower Dec soyoil:  108 pts lower Dec corn:  11 lower Dec wheat:  10 lower The market...

GOOD MORNING, Prices are lower across the board on more fund selling as weather moving forward continues to favor a good pace of harvest.  Outside mar...

SPREADS Dec crush trades to 88c/bu while oilshare trades at 45.0%.  Dec/March corn trades out to 8c from 7c, while Dec 21/22 trades from 23 1/2c carry...

Don’t take it personally that markets across the board showed weakness today. Exceptions being the dollar and lean hogs. The problem is dropping cons...

The Biden Administration last week announced an effort to lower carbon emissions in aviation, targeting a 20 percent drop in aviation emissions by 2030 and...

Dec 21 Corn closed at $5.2725/bushel, down $0.0225 from yesterday's close.  Dec 21 Wheat closed at $7.0875/bushel, down $0.0425 from yesterday's close...

Biden Buckles Much the way Donald Trump’s threat to end NAFTA united Congressional Republicans and Democrats in support of the USMCA, China has manag...

THE OPEN Nov beans:  10 lower Dec meal;  2.30 lower Dec soyoil:  52 lower Dec corn:  2 1/2 lower Dec wheat:  3 3/4 lower The marke...

GOOD MORNING, The markets were lower overnight as we cap off a week that contained a rally, and will end with good harvest weather across the heart of the...

SPREADS Dec crush trades to 86c/bu while oilshare trades at 45.44%.   Dec/March corn trades from 7 1/2c to 7 3/4c, while Dec 21/Dec 22 trades fro...

Without a lot driving the direction of the market, today was like a bickering old couple where bulls and bears disagreed over nothing important. Trades cou...

After on-line, remote learning, and shortened and staggered weeks at schools, this fall semester offers some hope to return to a more normal year for dairy...

Dec 21 Corn closed at $5.295/bushel, down $0.04 from yesterday's close.  Dec 21 Wheat closed at $7.13/bushel, up $0.0075 from yesterday's close. ...

Subs and Trade China has applied for membership to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a move that should re...

Wheat:  Net sales of 617,100 metric tons (MT) for 2021/2022--a marketing-year high—were up 59 percent from the previous week and up noticeably f...

THE OPEN Nov beans: 3 higher Dec meal;  2.70 higher Dec soyoil: 34 lower Dec corn:  1 1/2 higher Dec wheat: 3 1/2 lower The markets opened as exp...

Electoral Defeats May Cause Argentine Peronists to Revisit Export Restrictions Midterm congressional primary elections were held on Sunday in Argentina. Th...

SPREADS Crush trades down to 91c/bu with oilshare at 45.89%.  Spreads were firmer with Dec/March corn narrowing into 7c from 7 1/2c.  Dec 21/Dec...

GOOD MORNING, The surprising strength of the rallies this week caught bears off guard, creating a short-covering rally which found little selling pressure...

The CBOT was mostly higher on Wednesday, led by rallies in corn and wheat that broke their Friday (post-WASDE) highs. Milling wheat stocks are tightening a...

Individual Action An anti-animal agriculture group falsely calling itself Americans For Family Farmers is promoting legislation entitled Exposing Agricultu...

Dec 21 Corn closed at $5.335/bushel, up $0.1325 from yesterday's close.  Dec 21 Wheat closed at $7.1225/bushel, up $0.115 from yesterday's close. ...

The strategy in Europe and now developing in the U.S. is to replace fossil fuels with new green energy. Europe also wants to replace food produced using ch...

Livestock Live Hog Producers Cut Output as Prices Plummet With China’s leading hog producers reporting their monthly sales for August, the country&rs...

Russian Grain Markets: 6-10 September 2021 Prices for grain crops in the domestic Russian market mainly increased. In the Ural region and in some areas in...

THE OPEN Nov beans: 6 higher Dec meal:  .10 lower Dec soyoil:  50 higher Dec corn: 6 higher Dec wheat:  3 higher Prices opened as called but...

GOOD MORNING, Prices begin the PM session mixed, led higher by corn with wheat lower, but most are higher heading into the close.  The soy complex is...

SPREADS Dec crush trades to 96c/bu while oilshare trades to 45.72%.   Corn spreads are firmer across the board.  Dec/March corn trades into...

After higher closes overnight (except soymeal), markets showed follow-through and opened higher this morning (except soymeal). While corn, wheat, and soyoi...

Ag Negotiator President Joe Biden announced his intent to nominate Elaine Trevino to be the U.S. Chief Agricultural Trade Negotiator. Trevino is President...

Dec 21 Corn closed at $5.2025/bushel, up $0.07 from yesterday's close.  Dec 21 Wheat closed at $7.0075/bushel, up $0.1375 from yesterday's close. ...

As we wrote yesterday, while the House Agriculture Committee finished its version of the reconciliation bill, the House Ways and Means Committee is working...

Unlike corn, China does not impose a tariff rate quota on sorghum imports and now the Middle Kingdom is hoovering up all the sorghum that American farmers...

THE OPEN Nov beans:   9 higher Dec meal:  1.00 higher Dec soyoil:  70 higher Dec corn:   3 1/2 higher Dec wheat:  10 hig...

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Turkey has stopped the import tax on wheat (45 percent), barley (35 percent), and corn (25 pe...

GOOD MORNING, Prices are higher on the early night session as charts build on gains and on chatter that China has been actively purchasing US beans. ...

SPREADS December crush pops up to 91c/bu while oilshare trades to 45.10%.  Spreads firm with Dec/March corn narrowing into 8 1/2c from 9c carry. ...

The CBOT was mostly steady on Monday following Friday’s volatile reaction to the September WASDE. Corn, soybeans, and SRW wheat were all lower but tr...

Fiscal year 2021 ends 30 September. There is much work still to be done including funding the government past 1 October, extending key authorizations that...

Grains After a long period of below-normal rains, September started with meaningful precipitation for a large portion of Argentina’s agricultural are...

Dec 21 Corn closed at $5.1325/bushel, down $0.0425 from yesterday's close.  Dec 21 Wheat closed at $6.87/bushel, down $0.015 from yesterday's close.&n...

THE OPEN Nov beans:  3 lower  Dec meal:  2.00 lower Dec soyoil:  3 higher Dec corn:  8 lower Dec wheat:  5 1/2 lower The mark...

Regional News  Morocco is rumored to be suspending its import duty on soft wheat starting 1 November to ensure sufficient domestic supply and maintain...

A fire broke out at JBS’ beef packing plant in Grand Island, Nebraska late Sunday night. The fire was reportedly caused  by a boiler exploding i...

Sino-American Similarities While China and the U.S. are in a competitive battle both strategically and economically, there are many similarities between th...

GOOD MORNING, The markets opened on a steady note, but the weight of harvest upon the markets sent prices into the red even though they remain off their Fr...

SPREADS Dec crush trades down to new lows at 84.14c/bu, while oilshare trades to 45.10%.  Dec/March corn trades into 8 3/4c from 9 1/4c.  DecMarc...

Politico interviewed 11 leaders in U.S. agriculture and determined that based on the pandemic, the food system is not ready for prime time. The thrust of t...

The soybean oil price forecast is unchanged at 65 cents per pound...

The soybean meal price is forecast at $360 per short ton, down 25 dollars...

USDA’s outlook for U.S. soybean supply and use changes for 2021/22 include higher beginning stocks, production, exports, ending stocks, and lower cru...

USDA’s outlook for 2021/22 U.S. corn is for larger supplies, increased feed and residual use, greater exports, and higher ending stocks.  Projec...

USDA’s outlook for 2021/22 U.S. wheat this month is for reduced supplies, slightly higher domestic use, unchanged exports, and decreased ending stock...

This summary is based on reports from exporters for the period August27-September 2, 2021. Wheat:  Net sales of 388,400 metric tons (MT) for2021/2022...

Dec 21 Corn closed at $5.175/bushel, up $0.075 from yesterday's close.  Dec 21 Wheat closed at $6.885/bushel, down $0.0375 from yesterday's close.&nbs...

 Today was all about the WASDE and the lack of an anticipated bearish surprise from USDA sent the CBOT higher by the close. Near-term, it is likely th...

Today’s WASDE reduced the outlook for red meat and poultry production by 0.2 percent from August based on a lower outlook for red meat and a forecast...

Making Big Better The Biden Administration claims that big is bad and that it wants to elevate competition, including by funneling cash to small meat proce...

THE OPEN Nov beans:  3 higher Dec meal:  2.40 higher Dec soyoil:  24 lower Dec corn:  1 higher Dec wheat:  5 lower The markets ope...

Rabobank reports that over $2 billion is being invested to expand North American oilseed crush capacity. Part will be to support the expansion in biodiesel...

GOOD MORNING, Prices overnight generally were steady after a week of pressure.  It is report day and the market has priced in a lot of bearish news, p...

SPREADS Dec. crush trades down to 90c/bu while oilshare trades to 45.43%.  Dec/March corn spread narrows into 8c from 9 1/4c.   Dec/March wh...

A down day was in the forecast and down it was. December corn staged a minor comeback mid-session but could not hold and ended on a fractional loss. Decemb...

Knuckleheads Aides to President Joe Biden charged U.S. meat packers with profiting off the pandemic and said they are going to “crack down on illegal...

Yesterday, the White House posted a blog entitled “Addressing Concentration in the Meat-Processing Industry to Lower Food Prices for American Familie...

Dec 21 Corn closed at $5.1/bushel, down $0.0025 from yesterday's close.  Dec 21 Wheat closed at $6.9225/bushel, down $0.1725 from yesterday's close.&n...

Booming Soybean Crush Sector, Soymeal Exports to Increase Last week was a very eventful one for the U.S. soybean crushing industry. On Monday another soybe...

THE OPEN Nov beans:  8 lower Dec meal:  1.00 lower Dec soyoil:  50 lower Dec corn:  3 lower Dec wheat: 12 lower The market opened weake...

SPREADS  Dec. crush falls to 97c/bu while oilshare sits at a steady 45.84%.    Dec/March corn trades from 9 1/2c to 9 3/4c carry.  Dec/...

GOOD MORNING, Soft markets were seen overnight as harvest looms large with clear weather over the next 10 days.  The market continues to monitor progr...

CBOT futures were muted as traders are largely positioning for the September WASDE report on Friday. Corn showed perhaps the greatest weakness, pushing to...

Weather reduced production coupled with increased demand have whittled down global surplus grain stocks, but the changes have not been uniform. China is th...

Dec 21 Corn closed at $5.1025/bushel, down $0.005 from yesterday's close.  Dec 21 Wheat closed at $7.095/bushel, down $0.1025 from yesterday's close.&...

Disagreeing to Talk Developing countries oppose using a draft WTO text on agriculture as a basis for further negotiation, despite the fact it is merely a d...

Macroeconomic Food Prices in July See Biggest Drop Since April 2017 With live hog and pork prices falling to breakeven levels, the overall food inflation r...

THE OPEN Nov beans:  2 higher Dec meal:  .90 lower Dec soyoil:  50 higher Dec corn:  1 higher  Dec wheat:  2 lower The market...

Russian Grain Markets: 30 August-3 September Prices for grain crops in the Russian domestic market mainly increased. Export prices increased but so did the...

SPREADS Dec. crush trades to 1.00c/bu while oilshare trades to 46.42%.  Dec/March corn trades from 9 1/2c to 9 3/4c, while Sep/Dec recovers from a tra...

GOOD MORNING, Prices continue to find pressure as harvest looms but considering there is an impending September WASDE, there is also some pricing and short...

The CBOT and CME markets were sharply lower to start post-Labor Day trading with the ongoing export closure at the U.S. Gulf weighing on grain markets. The...

Specious on Trade When asked what it would take for the U.S. to re-engage in trade agreements like the CTTPP, USDA Secretary Tom Vilsack said, “So, I...

Dec 21 Corn closed at $5.1075/bushel, down $0.1325 from yesterday's close.  Dec 21 Wheat closed at $7.1975/bushel, down $0.065 from yesterday's close...

The Biden Administration and Congressional Democrats’ $3.5 trillion budget reconciliation package has $135 billion slated for the Agriculture Committ...

The inflating costs of energy has some policymakers concerned about its impact on the economic recovery as consumers redirect their spending obligations. H...

THE OPEN November beans:  1 higher December meal:  .20 higher December soyoil:  15 higher December corn:   1 lower December wheat:...

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Pakistan wheat prices are increasing, especially in the Punjab, which has caused the Pakistan...

SPREADS Board crush trends weaker while oilshare values are mostly steady.  Dec crush is trading at 1.03c/bu while oilshare trades at 46.20%.  Se...

GOOD MORNING, The USDA report is around the corner on Friday, Sep 10.    The markets are firmer overnight on a combination of short-covering, pri...

Dec 21 Corn closed at $5.24/bushel, down $0.015 from yesterday's close.  Dec 21 Wheat closed at $7.2625/bushel, up $0.0925 from yesterday's close.&nbs...

Note: The CBOT and WPI’s offices will be closed Monday, 6 September 2021 for the U.S. Labor Day holiday.  The CBOT was mixed on Friday with soyb...

The U.S. will celebrate Labor Day on Monday, 6 September, and the U.S. markets as well as our office will be closed that day. As a result, we will not upda...

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

Diminishing Hunger Returns U.S. House Democrats have implored President Joe Biden to create a national conference on food, nutrition, and health to address...

The 2021 and 2022 proposed RVOs, developed by EPA, have been under review at the Office of Management and Budget (OMB) for a week. As we reported last Frid...

Dec 21 Corn closed at $5.255/bushel, up $0.0275 from yesterday's close.  Dec 21 Wheat closed at $7.17/bushel, up $0.0275 from yesterday's close. ...

What is it really worth? That is the fundamental question but technicals had been beating a path lower for the past several days. Today was a pause –...

Overwrought Reaction New Chinese Ambassador to the U.S. Cui Tiankai reinforced this week his reputation for hyperbole. He pointed to his country’s nu...

Two key trends bely what’s in store for meat and livestock in late 2021 and early 2022: the prices of feeder pigs and feeder cattle. As we wrote last...

Exports for August 20-26, 2021 Wheat:  Net sales of 295,300 metric tons (MT) for 2021/2022 were up noticeably from the previous week and up 15 percent...

The CBOT was mostly red again on Wednesday with the same factors at play as have been all week. Weak (and weakening) technical conditions, fund liquidation...

U.S. political leadership is focused on competitiveness but may be oversimplifying requirements for its achievement. Most specifically, the political syste...

Dec 21 Corn closed at $5.2275/bushel, down $0.115 from yesterday's close.  Dec 21 Wheat closed at $7.1425/bushel, down $0.08 from yesterday's close.&n...

Getting Competitive President Joe Biden rationalized the withdrawal from Afghanistan yesterday by first saying it was “no longer in our national inte...

Livestock Live Hog Inventories Surpass Pre-African Swine Fever Levels Last week, China’s Deputy Minister of Agriculture and Rural Affairs (MARA), Ma...

THE OPEN Nov beans:  7 lower Dec meal: 1.00 lower Dec soyoil:  60 lower Dec corn:  6 lower Dec wheat:  2 1/2 lower The markets opened l...

Russian Grain Markets: 23-27 August 2021 Prices for grain crops (except corn) in the domestic Russian market followed last week’s trend and increased...

SPREADS Dec. crush trades to 1.14c/bu while oilshare trades to 45.90%.  Sep/Nov congests from 6 1/2c inverse to 7c.  NOv/March beans trade out to...

GOOD MORNING, Prices in the night session started off the evening on a mixed note, mostly defensive, but losses accelerated in the last hour of trade. ...

Technical pressure, end-of-month positioning, lack of export sales, good Midwest weather, and damage/lack of electricity to Gulf export facilities all comb...

Limits of Monetary Policy Progressives in the U.S. House of Representatives led by the Squad’s Rep. Alexandria Ocasio-Cortez (D-New York) are proving...

USDA’s most recent monthly dairy data shows that the number of milk cows declined in July for the second month in a row, after increasing month-over-...

Chicago futures saw the December corn contract lose 8.5 cents today and November soybeans lost 10¾ cents reportedly based on uncertainty about expor...

THE OPEN Nov beans:  6 lower Dec meal:  .40 higher Dec soyoil:  90 lower Dec corn:  6 lower Dec wheat:  5 lower The markets opened...

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Pakistan’s government says it will have about 530,000 MT of certified wheat seeds avail...

GOOD MORNING, Prices were weaker yesterday and are mixed this AM, with soyoil sporting the largest losses.   Oilshare is lower again as traders b...

SPREADS December crush traded to 1.14c/bu while oilshare trades to 45.85%.   Spreads were slightly firmer with Dec/March corn trading from 8c to...

The CBOT opened weaker overnight and continued that trend into the morning with significant selling in September futures as traders exit before first notic...

Exaggerating Goliath Officials in the Biden Administration are determined to take down America’s big corporations and if they follow the focus of Kar...

USDA’s National Ag Statistics Service (NASS) released the 2021 average farm real estate values. The average per acre value of land and buildings on f...

Dec 21 Corn closed at $5.4275/bushel, down $0.11 from yesterday's close.  Dec 21 Wheat closed at $7.235/bushel, down $0.09 from yesterday's close.&nbs...

Hurricane Ida has finished barreling through the critical Louisiana grain export infrastructure and the question is what will be the impact? First, while I...

Wheat Soil moisture is becoming a problem for Argentina’s wheat crop. Crop conditions keep falling due to drought across the wheat-growing region and...

THE OPEN Nov beans: 1 higher Dec meal:  .80 higher Dec soyoil:  20 lower Dec corn:  2 lower Dec wheat: 8 higher The market started the sessi...

Regional News  Ukraine’s 2021/22 total grain exports have reached 7 MMT so far, up 10 percent from the same time last year.  The Taliban&rs...

GOOD MORNING, Prices are mixed overnight with the key feature that of profit-taking in oilshare, with weaker soyoil futures weighing on beans.   ...

SPREADS December crush trades to 1.13cbu while oilshare trades to 45.27%.  The Sep/Nov bean spread has moved from a 37c inverse down to 14c as we appr...

The CBOT ended the week on a quiet note with most of the volume in grains related to rolling September positions forward ahead of first notice day on Tuesd...

Trade Policy Labor USTR’s annual National Trade Estimates Report is a good source of the barriers and problems confronted by U.S. exporters in other...

We reported on Monday that the EPA would be sending its 2022, and never finalized 2021, proposed required volume obligations (RVO) under the renewable fuel...

Dec 21 Corn closed at $5.5375/bushel, up $0.03 from yesterday's close.  Dec 21 Wheat closed at $7.325/bushel, down $0.0675 from yesterday's close.&nbs...

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

DTN reports that for the first time in about nine months there was no significant increase in fertilizer prices this past month. Among the eight major comp...

It was a unique trading day amidst the caution surrounding the lack of fresh influences. Unique in that trading ranges for corn and soybeans were unusually...

Dec 21 Corn closed at $5.5075/bushel, down $0.01 from yesterday's close.  Dec 21 Wheat closed at $7.3925/bushel, up $0.1375 from yesterday's close.&nb...

Common Poverty Chinese President Xi Jinping has taken the Communist manifesto to heart and declared a “common prosperity” for all Chinese. Soci...

USDA released its food price outlook this morning. Monthly July over June prices were up 0.5 percent for beef, 1.9 percent for poultry, and 2.2 percent for...

U.S. Soy Export Sales Highlights The week ending 19 August was a good one for exporters of U.S. soybeans for shipment in 2021/22, but not so much for expor...

Exporters for the period August 13-19, 2021 Wheat:  Net sales of 116,000 metric tons (MT) for 2021/2022--a marketing-year low--were down 62 percent fr...

The CBOT was weaker overnight with rains for the Corn Belt pressuring the market. The day session, however, saw corn emerge as the upside leader on technic...