Today’s trading opened with a head scratcher after USDA reported 135 KMT of U.S. corn sold to China. There isn’t any corn import demand in Chin...
Articles
Export Sales
Export Sales and Shipments for July 11-17, 2025 Wheat: Net sales of 712,200 metric tons (MT) for 2025/2026 were up 44 percent from the previous week...
Summary of Futures
Dec 25 Corn closed at $4.2075/bushel, up $0.0325 from yesterday's close. Sep 25 Wheat closed at $5.415/bushel, up $0.01 from yesterday's close. ...
Further Identification of Mispricing in Ag Futures
WPI offers the following analysis as a continuation of last week’s work examining mispricing opportunities in agricultural futures. Readers may recal...
Livestock Roundup: Cattle Inventory and Cattle on Feed Preview
USDA’s monthly Cattle on Feed report will be released tomorrow, along with the biannual July Cattle Inventory report for the first time in two years...
Market Commentary: Trade Deal News Fails to Excite Ag Markets
The CBOT tried to rally early on Wednesday after traders had the opportunity to react to the U.S.-Japan trade deal, but a lack of details left markets wond...
15 Percent and Certainty; Purity Tests; Cherry Picking Cherries
15 Percent and Certainty The U.S. trade agreement with Japan announced late yesterday was likely Prime Minister Shigeru Ishiba’s final act. Financial...
Summary of Futures
Dec 25 Corn closed at $4.175/bushel, down $0.005 from yesterday's close. Sep 25 Wheat closed at $5.405/bushel, down $0.09 from yesterday's close.&nbs...
Black Sea Regional Analysis
Russian Grain Markets: 14 – 18 July 2025 The new 2025/26 season export market is the driving force behind pricing patterns asking for more goods at t...
Market Commentary: Weather Premia Withdrawn; Trade Talks Make Progress
CBOT futures saw mixed trade Tuesday with summer row crops pulling back amid a favorable Midwest weather forecast while wheat turned higher on slow sales f...
Ready for War; Deals Trickly In
Ready for War Europe has not won a kinetic war without U.S. help, but one German official quoted by the Wall Street Journal boasted, “If they [U.S.]...
Summary of Futures
Dec 25 Corn closed at $4.18/bushel, down $0.0425 from yesterday's close. Sep 25 Wheat closed at $5.495/bushel, up $0.0725 from yesterday's close.&nbs...
Egg Report Analysis
The July CPI showed that retail egg prices have steadily dropped this year, down 7.4 percent from June, but still remain 27.3 percent higher than last year...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region A BRICS spokesman said that in light of the consolidation of companies in the grain trade,...
Livestock Industry Margins
Beef packer margins fell over $100/head for the second straight week to hit - $151/head, which is among the worst margins in the past decade. The culprit f...
Market Commentary: Grains and Livestock Take Diverging Paths
Grain and oilseed markets pulled back to start the week after favorable showers fell across the U.S. over the weekend. The moisture revived crop prospects...
Ten Days and Counting
Outside markets are counting on trade deals or another TACO (Trump Always Chickens Out) come 1 August. Since the 7 July announcement of the small window to...
Summary of Futures
Dec 25 Corn closed at $4.2225/bushel, down $0.055 from yesterday's close. Sep 25 Wheat closed at $5.4225/bushel, down $0.04 from yesterday's close.&n...
Tariffs Rock Japan’s Election: Rice, Oil, and Autos
Japanese Prime Minister, Shigeru Ishiba has vowed to stay on as Prime Minister despite his coalition government losing its majority in the upper house afte...
Mercosur Regional Analysis
Export Taxes The topic of export taxes continues to spark debate in Argentina, particularly soybean taxes. The return to a 33 percent rate for soybea...
CFTC COT Report Analysis
Friday’s CFTC report showed managed money shifting into a slightly more bearish stance in the ag space as they added 25,490 contacts (37 percent) to...
Summary of Futures
Dec 25 Corn closed at $4.2775/bushel, up $0.0675 from yesterday's close. Sep 25 Wheat closed at $5.4625/bushel, up $0.1275 from yesterday's close.&nb...
Market Commentary: Mostly a Green Finish of a Bullish Week
The market was green across the board in grain and oilseed in the overnight and mostly finished that way in the day session except for soyoil, where profit...
Strong Retail Sales Report and Inflation Outlook
The June retail sales report beat consensus expectations, rising 0.6 percent. Moreover, it was a strong report, with 10 out of 13 of the sales categories i...
LH 2025 and 2026 Cattle Outlook Challenging for Packers, Favorable for Producers
The biggest question in the cattle and beef markets lately has been “when does the rally stop?” after beef values and fed and feeder cattle pri...
WPI Transportation Report
Dry Bulk Markets The Capesize market is up more than 80 percent from last week’s report due to greatly improved iron ore demand in the Atlantic. Ther...
Export Sales
Export Sales and Shipments for July 4-10, 2025. Wheat: Net sales of 494,400 metric tons (MT) for 2025/2026 were down 13 percent from the previous wee...
Market Commentary: Quirky Day in a Quirky Week
It was a somewhat quirky day as grains took their lumps and soyoil supported beans. There was a new contract low in HRW, low volume trading corn and livest...
Summary of Futures
Dec 25 Corn closed at $4.21/bushel, down $0.03 from yesterday's close. Sep 25 Wheat closed at $5.335/bushel, down $0.0775 from yesterday's close.&nbs...
Identifying Mispricing Opportunities in Ag Futures
In many ways, human nature is fascinated with the future – predicting what will and what could be and formulating plans accordingly. This is one fact...
Livestock Roundup: July WASDE Beef Forecast Update
Per USDA’s annual Cattle Inventory report, the total number of cattle and calves in the U.S. as of 1 January was at its lowest point in more than 70...
Market Commentary: Three-Factor Rally for Soy Complex; Corn Extends Gains
Overnight trade saw short covering and corrective trade in corn, soybeans, and wheat but only the former two markets were able to hold their gains. Soybean...
Ups and Downs in EU AG; Brazil Targeted
Ups and Downs in EU AG Farmers in Europe cannot catch a break. For years they were they toast of the EU with the Common Agricultural Policy (CAP) garnering...
Summary of Futures
Dec 25 Corn closed at $4.24/bushel, up $0.0425 from yesterday's close. Sep 25 Wheat closed at $5.4125/bushel, up $0.0325 from yesterday's close. ...
Black Sea Regional Analysis
Russian Grain Markets: 7 – 11 July 2025 The export market is drawing all the attention and in the southern (export oriented) regions of Russia, deman...
Market Commentary: Corn Reversal Continues; Weather, Conditions Ratings Sink Soybeans
The big move at the CBOT Tuesday was a 1¾-cent gain in December corn futures – which isn’t much but that the development followed Monday...