The polling for the 2024 U.S. Presidential election had significant forecast errors and history will likely judge the numbers as “wrong”. While it’s hard t...
Articles
Black Sea Regional Analysis
Russian Grain Markets: 28 October – 1 November 2024Russian analysts revised the 2024 Russian crop downwards to 128.8 MMT without newly occupied territories...
Market Commentary: Election Day Brings CBOT Gains
It’s election day in the U.S. and the nation will decide on new leadership for the White House and Congress, though results may not be available for days o...
Tax Policy Outlook Post Election
After the votes are fully counted, as a new Administration forms, and Congress organizes, WPI will take a deeper look into the policy implications of today...
EU Confirmation Hearings; Japanese Independence; Lemonades out of Lemons; Border War
EU Confirmation HearingsIn a few months, it will be the turn of either Donald Trump or Kamala Harris’s cabinet nominees to seek confirmation by the legisla...
Summary of Futures
Dec 24 Corn closed at $4.185/bushel, up $0.02 from yesterday's close. Dec 24 Wheat closed at $5.725/bushel, up $0.0375 from yesterday's close. Ja...
Middle East, Mediterranean and Africa Regional Analysis
Regional UpdatesMEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGIONTunisia will shortly receive a shipment of 33,000 MT of U.S. corn, the first ship...
Livestock Industry Margins
WPI is excited to present the second edition of our newest data-driven publication Ag Perspectives Quant: U.S. Livestock Industry Profit Margins. This repo...
Market Commentary: Grains Rise on Export Demand; Soyoil, Livestock Fall on Technical Trade
The CBOT was mostly higher to start the week with fresh daily export sales announcements and a solid Export Inspections report underpinning the day’s moves...
Renewable Fuel Policy Outlook in 2025
Tomorrow is election day; the make-up of Congress and who is in the White House is expected to have an impact on renewable fuel policy in 2025. As a genera...
Transatlantic Inverse; Farm Bill Chances
Transatlantic InverseDepending on tomorrow’s election outcome, American businesses will either be saddled with more taxes, regulations, and attacks on cons...
Summary of Futures
Dec 24 Corn closed at $4.165/bushel, up $0.02 from yesterday's close. Dec 24 Wheat closed at $5.6875/bushel, up $0.0075 from yesterday's close. J...
Mercosur Regional Analysis
Wheat The long-awaited rains have finally arrived in southeastern Buenos Aires, with precipitation totals ranging from 20–50 mm. While the rainfall is...
European Market Analysis
Regional News Algeria bought 600 KMT of wheat in its tender that closed on Monday, buying the full volume permitted, and prices are rumored to be near...
CFTC COT Report Analysis
Through 29 October, funds continued their aggressive short covering in the corn market with strong export sales justifying the move. Funds reduced their ne...
State Directed Meat; Living Space
State Directed MeatUSDA has been issuing loans and grants to startup livestock businesses with the goal of diversifying the industry, providing producers w...
Market Commentary: A Week of Notable Numbers
Except for soymeal, the rest of the grains and oilseeds contracts traded higher in the overnight, and opened higher this morning, but only corn and soyoil...
Summary of Futures
Dec 24 Corn closed at $4.145/bushel, up $0.0375 from yesterday's close. Dec 24 Wheat closed at $5.68/bushel, down $0.025 from yesterday's close. ...
October Jobs Report Tepid
The Bureau of Labor Statistics (BLS) released the October jobs report this morning. Total nonfarm payroll employment was essentially unchanged in Oct...
U.S. Soybean Crush Margin Outlook
The three legs of the U.S. soybean crush have each seen interesting and divergent dynamics over the past month that have influenced the crush margin outloo...
Market Commentary: CBOT Debates Following Seasonal Rules
The CBOT was mixed for the day with wheat futures sinking lower after the HRW and SRW growing regions received favorable rains Wednesday and early Thursday...
Oilseed Highlights: Bounce off the Bottom?
The MarketJanuary soybeans have now rebounded a second day in a row after opening the week lower. While it came within 10-cents of the contract low, export...
Summary of Futures
Dec 24 Corn closed at $4.1075/bushel, down $0.0075 from yesterday's close. Dec 24 Wheat closed at $5.705/bushel, down $0.0275 from yesterday's close.&...
Export Sales
Export Sales and Shipments for October 18-24, 2024. Wheat: Net sales of 411,400 metric tons (MT) for 2024/2025 were down 23 percent from the previous...
Livestock Roundup: Broiler Outlook
Broiler slaughter was 158.86 million head last week, up from 158.139 million the week before and continuing to run above a year ago. Broiler producti...
Market Commentary: End-of-Month Trade, Profit Taking Create Mixed Markets
The CBOT was mixed in moderate-volume trade on Wednesday with markets across the board seeing impacts from end-of-month position adjusting and profit takin...
Misdirected Fire; Over-Capacity
Misdirected FireThe Kamala Harris campaign is frustrated that the economy is hot, inflation has dissipated to just 2.4 percent, and yet voters are not feel...
Summary of Futures
Dec 24 Corn closed at $4.115/bushel, down $0.0225 from yesterday's close. Dec 24 Wheat closed at $5.7325/bushel, up $0.0275 from yesterday's close.&nb...
Black Sea Regional Analysis
Russian Grain Markets: 21 – 25 October 2024The Russian grain markets remained stable on the export front and slightly bearish after recent peaks. Domestic...
Market Commentary: Poor Conditions Rally Wheat; Big Crop(s) Pressure Soybeans; Hogs Hit New Highs
The CBOT was mostly higher on Tuesday with the wheat market in the lead on worrying crop conditions and persistent drought in the HRW growing region. USDA’...
Livestock Industry Margins
WPI is excited to present a new, weekly, data-driven publication Ag Perspectives Quant: U.S. Livestock Industry Profit Margins. This report offers a compre...
Interest Rate Outlook
The Fed meets next week, the day after the election. It looks likely there will be a rate cut again for the second time in as many meetings. The federal fu...
Post-Election Transatlantic
The EU’s dependency on the U.S. for both defense and economic well-being has focused discussions in Brussels on what the relationship will look like should...
Summary of Futures
Dec 24 Corn closed at $4.1375/bushel, up $0.03 from yesterday's close. Dec 24 Wheat closed at $5.705/bushel, up $0.1175 from yesterday's close. N...
Middle East, Mediterranean and Africa Regional Analysis
Regional UpdatesMEDITERRANEAN, MIDDLE EAST, NORTH AFRICA, and AFRICA – MEA REGIONTurkey’s wheat production is seen dropping by 5.5 percent to 20.8 MMT acco...
Market Commentary: Oil Drags CBOT Lower; Hogs Hit New Highs; Cattle Rise After Report
The CBOT was mostly lower for the day with the sharp decline in crude oil futures dragging soyoil, the broader soy complex, and corn and wheat lower. There...