WHEAT Harvest advanced 4.9 percent week over week, reaching 16.5 percent of the suitable area. The national average yield continued to rise as combines mov...
Articles
Qualified WASDE Livestock Numbers
USDA released the November World Agricultural Supply and Demand Estimates (WASDE) report on Friday, the first report since September due to the government...
Show us the Beef; Cost of Living (crisis); State Excesses
Show us the Beef The last American president with a knowledge of agriculture was Jimmy Carter back in the 1970’s. The largest problem policymakers ha...
Summary of Futures
Dec 25 Corn closed at $4.3475/bushel, up $0.045 from yesterday's close. Dec 25 Wheat closed at $5.4425/bushel, up $0.17 from yesterday's close. ...
European Market Analysis
Milling Wheat European wheat markets remain under pressure amid heavy global supplies and as aggressive Black Sea and Argentine offers cap any rallie...
Daily Estimate of Managed Money Positioning in Ag Futures
Amid the ongoing delays in releasing the backlogged CFTC data, WPI presents the following estimates of managed money traders’ positioning in key agri...
WASDE Soybeans - Nov 2025
USDA’s November 2025 estimate is for U.S. soybean ending stocks to decrease 10 million bushels to 290. The projected U.S. season-average soybean pric...
WASDE Corn - Nov 2025
USDA’s November 2025 estimate is for U.S. corn ending stocks to increase 44 million bushels to 2.2 billion. The projected U.S. season-average corn pr...
WASDE Wheat - Nov 2025
USDA’s November 2025 estimate is for U.S. wheat ending stocks to increase 57 million bushels to 901. The projected U.S. season-average wheat price re...
Summary of Futures
Dec 25 Corn closed at $4.3025/bushel, down $0.1125 from yesterday's close. Dec 25 Wheat closed at $5.2725/bushel, down $0.085 from yesterday's close...
Market Commentary: Excitement; Over-Reaction, Under-Reaction
Like Lord Tennyson’s troops lined up in the Crimean War, sometimes we are just fodder in the commodity markets. After 40 days and 40 nights of withdr...
Tariff and Macro Policy Change Announcements Coming
U.S. Trade Representative Jamieson Greer said today that the U.S. is readying an announcement to exempt a number of food and agricultural products not prod...
WPI Grain Transportation Report
Dry-bulk markets were higher last week amid improved freight inquiries, tightening tonnage lists, and traders hoping for increased grain business in late N...
Market Commentary: Corn and Beans Bravely Higher Ahead of the WASDE
The U.S. government reopened today and the data fog partially lifted in Washington. However, many economic reports will first require time to repopulate th...
Pre-WASDE Cash Market Soybean Signals
Writing about what the markets say will happen the day before a major USDA report is always a risky - but still useful - endeavor. This year, the recent U...
Summary of Futures
Dec 25 Corn closed at $4.415/bushel, up $0.0625 from yesterday's close. Dec 25 Wheat closed at $5.3575/bushel, down $0.0025 from yesterday's close.&n...
Livestock Roundup: Making Sense of Cattle Markets
The first bit of news is the government shutdown has ended. The House voted 222 to 209 to pass the spending package that will lead to the government re-ope...
Market Commentary: Shutdown Progress, WASDE Hopes Send CBOT Higher
The U.S. government is edging ever closer to reopening, which means Washington can resume its vital work of spending money to see if rabbits enjoy Sw...
Summary of Futures
Dec 25 Corn closed at $4.3525/bushel, up $0.0325 from yesterday's close. Dec 25 Wheat closed at $5.36/bushel, up $0 from yesterday's close. Jan...
Ham-Handed; Existential WTO Questions; Miscellany; Stove Piped Regs
Ham-Handed U.S. Treasury Secretary Scott Bessent said that the Administration will make “substantial announcements” about tariffs on coffee and...
Black Sea Regional Analysis
Russian Grains Market: 3–7 November 2025 During the first week of November ,the market was predominantly bearish with rare temporary recoveries in in...
Market Commentary: CBOT Mixed as Shutdown End Begins
The CBOT was mixed with Monday’s strength in various markets fading quickly and giving way to a “turnaround Tuesday”. Corn and soyoil wer...
Pandorra’s Tariff Box
This is not a defense of tariffs or the tariff war, but a discussion about strategy and asymmetry. Since Mr. Trump announced his reciprocal tariff plan (tr...
Summary of Futures
Dec 25 Corn closed at $4.32/bushel, up $0.0225 from yesterday's close. Dec 25 Wheat closed at $5.36/bushel, up $0.0025 from yesterday's close. ...
Agreement to End Government Shutdown Reached in Senate, Ag Highlights
As Matt Herrington wrote yesterday, the 41-day government shutdown appears to be coming to an end. The Senate has taken a major step toward it by passing a...
Livestock Industry Margins
Beef packer margins rallied for the third straight week and returned to positive values for the first time in a month. Margins rose $16/head and hit an est...
Market Commentary: Markets Rally as Shutdown Starts to End
CBOT markets rode a wave of enthusiasm Monday with the winds of a partial reopening of the U.S. government, China trade optimism, and USDA’s upcoming...
Trump Calls for Meat Packing Anti-Trust Investigation
Late Friday afternoon, President Trump called on the Department of Justice to investigate potential anticompetitive practices in the meatpacking industry...
Beef, Pasta, Inflation
Replicating his predecessor, Mr. Trump is blaming corporate price gouging for currently high beef prices. Charging the industry with “Illicit Collusi...
Summary of Futures
Dec 25 Corn closed at $4.2975/bushel, up $0.025 from yesterday's close. Dec 25 Wheat closed at $5.3575/bushel, up $0.08 from yesterday's close. ...
Mercosur Regional Analysis
Wheat Harvesting is gaining momentum, including in the higher-yielding areas of Córdoba. Yields are good and some are described as impressive - as h...
European Market Analysis
Regional News France is preparing to block a free trade agreement between the EU and Southern Common Market (Mercosur) trade block. French ag ministe...
Daily Estimate of Managed Money Positioning in Ag Futures
Amid the ongoing U.S. government shutdown, WPI presents the following estimates of managed money traders’ positioning in key agricultural futures mar...
Phosphate and Potash Added to Critical Minerals List
The Department of the Interior has added phosphate and potash, two key fertilizer ingredients, to the official Critical Minerals List. They are part of 60...
Market Commentary: Pre-Weekend Bounce on a Mixed Week
Outside markets continued their downbeat on Friday but ag futures had a few recoveries from yesterday’s trouncing. Corn closed lower for the d...
Summary of Futures
Dec 25 Corn closed at $4.2725/bushel, down $0.015 from yesterday's close. Dec 25 Wheat closed at $5.2775/bushel, down $0.0775 from yesterday's close...