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Summary of Futures

Mar 26 Corn closed at $4.305/bushel, up $0.065 from yesterday's close.  Mar 26 Wheat closed at $5.295/bushel, up $0.14 from yesterday's close.  M...

Export Sales

Export Sales and Shipments for January 9-15, 2026. Wheat: Net sales of 618,100 metric tons (MT) for 2025/2026 were up noticeably from the previous week and...

Water Wars: 2026 Edition

Water is the world’s most important commodity, but also its most underappreciated—until scarcity starts. Water scarcity runs in cycles, and rep...

Market Commentary: General Equilibrium with Weather and War

Outside markets continued their reversal higher following the rescission of President Trump’s tariff threats against Europe. Ukraine’s grain ex...

2026 Outlook: Market Home Runs Unlikely, Use Risk Management to Stay at Bat This Year

With the spring planting effort just around the corner, producers and traders are starting to get a handle on the outlook for the coming marketing year. Th...

Livestock Roundup: Cattle on Feed Preview

USDA’s monthly Cattle on Feed report for January will be released tomorrow. Analysts’ pre-report consensus estimates are for the total inventor...

Transportation and Export Report - January 22, 2026

WPI is pleased to release the third week of the Transportation and Export Report, a weekly industry publication previously produced by ocean freight specia...

Summary of Futures

Mar 26 Corn closed at $4.24/bushel, up $0.0225 from yesterday's close.  Mar 26 Wheat closed at $5.155/bushel, up $0.0775 from yesterday's close. ...

Livestock Industry Margins

Beef packer margins improved for a second consecutive week but remained firmly negative. Margins rose $70/head to –$179 as the Choice cutout advanced...

Market Commentary: Divergent Day Highlights Divergent Outlook

The CBOT started Wednesday’s overnight trade on a high note with traders returning from the prior day’s risk-off selling and finding support fr...

GI Chimera; Catch Bees with Honey; AI My Eye

GI Chimera The EU-Mercosur trade agreement has hit another stumbling block after the European Parliament asked the EU’s high court to first assess th...

Summary of Futures

Mar 26 Corn closed at $4.2175/bushel, down $0.02 from yesterday's close.  Mar 26 Wheat closed at $5.0775/bushel, down $0.025 from yesterday's close.&n...

Black Sea Regional Analysis

Russian Grain Markets: 12–16 January, 2026 The Russian grains market is slowly but steadily emerging from the extended holiday period. Extreme cold w...

Greenland Tweets Sink Macroeconomic Markets, CBOT and Ags Follow

The CBOT started off in risk-off mode Tuesday as rising U.S./EU tensions and odd dynamics in global macroeconomic markets (the rally in Japanese bond yield...

China Market Analysis

Economy and Diet The decline in China’s population, with the birthrate falling 17 percent to its lowest since 1949, is likely having some impact on t...

Middle East, Mediterranean, and Africa Regional Analysis

Mediterranean/Middle East/North Africa/Africa – MEA Region Iraq is reported to be facing the “driest year in modern history” due to droug...

Summary of Futures

Mar 26 Corn closed at $4.2375/bushel, down $0.01 from yesterday's close.  Mar 26 Wheat closed at $5.1025/bushel, down $0.0775 from yesterday's close.&...

Greenland: More Tariffs on 1 February

Greenland is heating up in the latest news, and not due to global warming, but rather rising security concerns. President Trump said of Greenland, the semi...

European Market Analysis

Regional News In the first two weeks of 2026, 10 countries in the EU reported a combined total of 42 outbreaks of the H5N1 bird flu virus in commercial pou...

CFTC COT Report Analysis

Friday’s CFTC report showed the effects of USDA’s bearish January WADSE as managed money traders expanded short positions across the ag space f...

Martin Luther King Jr. Holiday

U.S. financial markets will be closed in observance of Martin Luther King Jr. Day on Monday, 19 January. As a result, WPI’s offices will be closed, a...

Market Commentary: Some Rebound from WASDE Lows

By today’s close, losses in soybeans and wheat were down to fractions but corn could not fight its way back from USDA’s surprise bigger supply...

Summary of Futures

Mar 26 Corn closed at $4.2475/bushel, up $0.045 from yesterday's close.  Mar 26 Wheat closed at $5.18/bushel, up $0.075 from yesterday's close. ...

Government Funding Update: ICE Policy Risks

This past fall the U.S. government was shutdown for the longest period in history, with a temporary reprieve reached to re-open the government until the en...

Cattle Inventory Expectations: Beef and Dairy Expansion

With the USDA’s semi-annual Cattle Inventory report just two weeks away now, many in the industry are sharpening their pencils to forecast what the i...

Transportation and Export Report - January 15, 2026

WPI is pleased to the second week of the Transportation and Export Report, a weekly industry publication previously produced by ocean freight specialist Ja...

Livestock Industry Margins

Beef packer margins rebounded modestly last week but remained deeply negative. Margins improved $60/head to –$249 as the Choice cutout rose $14/cwt w...

Livestock Round Up: Tariff Impacts on Beef Supply

While President Trump has stuck to the storyline that tariffs are an economic boost for the U.S., one sector in particular shows a different story: beef. A...

Summary of Futures

Mar 26 Corn closed at $4.2025/bushel, down $0.0175 from yesterday's close.  Mar 26 Wheat closed at $5.105/bushel, down $0.02 from yesterday's close.&n...

Export Sales

Export Sales and Shipments for January 2 - 8, 2026. Wheat: Net sales of 156,300 metric tons (MT) for 2025/2026 were up 32 percent from the previous week, b...

Market Commentary: Strong Grain Demand, Technical Factors Stabilize CBOT

The CBOT finally saw bulls emerge after the past two days of selling as technical factors and strong corn and soybean demand supported positive sentiments...

Trump’s Rhetoric; Ag Fear; Ag Trade Future

Trump’s Rhetoric The timing for release of the U.S. Supreme Court’s decision on President Trump’s tariffs has been speculated by the medi...

Summary of Futures

Mar 26 Corn closed at $4.22/bushel, up $0.0225 from yesterday's close.  Mar 26 Wheat closed at $5.125/bushel, up $0.02 from yesterday's close.  M...

Black Sea Regional Analysis

Russian Grain Markets: 5–9 January 2026 The first week of January is typically quiet for trading and logistics as Russia observes Orthodox Christmas...

Summary of Futures

Mar 26 Corn closed at $4.1975/bushel, down $0.0175 from yesterday's close.  Mar 26 Wheat closed at $5.105/bushel, down $0.0075 from yesterday's close...

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