THE OPEN Nov beans:  2 1/2 higher Dec meal:   1.10 higher Dec soyoil:   12 lower Dec corn:    1/4 lower Dec wheat: ...

Russian Grain Markets: 26-30 August 2019 Domestic 3rd grade milling wheat prices in the European Part of Russia grew in ruble expression and decreased in d...

SPREADS November crush falls to 87c/bu while oilshare trades to 33 percent.  Dec/March corn trades from 13c to 13 1/3c while Dec 19/Dec 20 trades out...

GOOD MORNING, Pressure from weaker grain trade dominated price action yesterday.  Good weather, adequate rainfall patterns, and most of all, seasonal...

President Trump says his trade war on China is “having a devastating effect” on the Middle Kingdom and “they have to make a deal,”...

Farm income is projected to increase in 2019, which would be the third year in a row of growing farm income, but the reason for the most recent two years&r...

Good weekend weather, lower FOB values for wheat world-wide, and fund selling pressured the CBOT today. Corn and wheat futures posted new contract lows wit...

Dec 19 Corn closed at $3.61/bushel, down $0.0875 from yesterday's close.  Dec 19 Wheat closed at $4.535/bushel, down $0.09 from yesterday's close.&nbs...

Many are asking the net long-term impacts of China’s near embargo on purchases of soybeans from the U.S. The historical picture is very clear. The U...

THE OPEN November beans:  6 lower December meal:  .20 lower December soyoil:  32 lower December corn:   3 3/4 lower December wheat...

MEDITERRANEAN/MIDDLE EAST COMMENTS After last week’s wheat tender Egypt’s GASC has booked 2.13 MMT of wheat this buying year – 935,000 MT...

SPREADS October crush trades up to 1.01c/bu while oilshare is steady at 32.68 percent.  Corn spreads are weaker with Dec 19/Dec 20 trading out to 35c...

GOOD MORNING, It's a new month but the market is under pressure again as the weather remains mostly benign with the lack of any freeze event, and just enou...

Dec 19 Corn closed at $3.6975/bushel, down $0.015 from yesterday's close.  Dec 19 Wheat closed at $4.625/bushel, down $0.1025 from yesterday's close.&...

Reminder: the CBOT and CME markets will be closed Sunday night, 1 September and during the day on Monday, 2 September in observance of the U.S. Labor Day h...

The U.S. will celebrate Labor Day on Monday, 2 September, and the U.S. markets as well as our office will be closed that day. As a result, we will not upda...

Today is the deadline for filing comments with EPA on the proposed required volume obligations (RVO) for the 2020 RFS, and it comes as the Administration i...

US-PRC - What to Believe? The negotiations are going great again. All is well. Be calm markets. Are the two sides, China and the U.S. on track together? Is...

THE OPEN November beans:  4 higher December meal:  .10 lower December soyoil:  2 higher December corn:   1 1/2 higher December whe...

SPREADS October crush is lower trading back to 1.00c/bu while oilshare firms to 32.43 percent, bouncing off the 32 percent level.  Sep/Dec corn trades...

GOOD MORNING, It is the end of the month, first notice day, and part of a 3-day weekend, always good for contract liquidation.  The COT report tonight...

Following on Wednesday’s market, futures were mixed over night with beans and corn up but wheat continuing its downward trend. A mixed close was expe...

We are about to enter the 15th month of the tariff war between the U.S. and China, and to put it bluntly, a resolution seems further off today than it did...

Stirring Through the Ashes after the Tyson Fire Tomorrow will mark three weeks since the major fire that shutdown the Tyson beef packing plant in Garden Ci...

Brazilian Fires Placing Focus on Soybeans The practice of burning forestland during the dry season in Brazil has been going on for many years. Fire has bee...

THE OPEN November beans: 3 1/4 higher December meal: .70 higher December soyoil: 18 lower December corn:   2 3/4 higher December wheat: 1 1/2 lo...

Wheat:  Net sales of 661,700 metric tons for 2019/2020--a marketing year high--were up 11 percent from the previous week and 37 percent from the prior...

Letter Grade B Donald Trump claims to be the world’s greatest negotiator but he only gets a B grade for his trade deal with Japan. Under pressure to...

SPREADS October crush trades slightly lower at 1.05c/bu while oilshare corrects lower again down to 32 percent.  Buy meal/sell soyoil appears to be th...

GOOD MORNING, The markets closed higher yesterday with beans and corn establishing outside days marking a technical reversal off the lows with upside follo...

President Trump says that the Chinese asked to resume negotiations, but nothing is publicly scheduled, and the Chinese foreign ministry says it knows nothi...

The CBOT rallied today on hints that the Trump administration may be planning policy action to boost biofuels demand. There was no time frame given in U.S...

Dec 19 Corn closed at $3.71/bushel, up $0.0475 from yesterday's close.  Dec 19 Wheat closed at $4.7525/bushel, down $0.015 from yesterday's close.&nbs...

Policy A TRUE PRISONER’S DILEMMA  At last weekend’s G7 summit in Biarritz, France, President Trump’s public ruminating on the progre...

Southeast Asia has experienced droughty conditions the past several months and the United Nations Economic and Social Commission for the Asia/Pacific regio...

THE OPEN November beans:  3/4 higher December meal:  .70 lower December soyoil:  1 higher December corn:  1 lower December wheat: ...

Russian Grain Markets: 19-23 August 2019 Domestic wheat prices in the European Part of Russia mainly increased, at different rates in different regions, wh...

SPREADS October crush trades to 1.09c/bu while oilshare leaks lower to 32.36 percent.  Dec 2019/Dec 2020 corn congests from 36 1/2c to 37c.  Dec/...

GOOD MORNING, As we head into Labor Day, funds continue to build their net short positions in corn while maintaining an overall larger short in beans and m...

EU agricultural policy has focused on assisting farmers in extracting higher prices for food, based on quality built over centuries, with branding both on...

The CBOT was broadly lower in quiet trading today with little fresh news to spark much activity. The markets are continuing to digest the U.S.-Japan trade...

Dec 19 Corn closed at $3.6625/bushel, down $0.02 from yesterday's close.  Dec 19 Wheat closed at $4.7675/bushel, up $0.015 from yesterday's close.&nbs...

It has been a tough year for the ethanol industry.  Volatile corn markets, EPA’s delay until the last minute on granting a year-round waiver for...

China’s consumption of animal protein is changing fast due to the impact of ASF on its swine herd. While some estimates are that up to a half of the...

THE OPEN Nov beans: 8 1/2 lower Dec meal:  2.30 lower Dec soyoil:  26 lower Dec corn:  1 1/2 lower Dec wheat:  2 lower The markets open...

Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Egypt may face serious problems as climate change is raising the water level of the Mediterranean and a...

SPREADS October crush trades at 1.08c/bu while oilshare is steady at 32.57 percent.   September contract liquidation continues as we approach fir...

GOOD MORNING, Prices are lower on net fund short positions, non-threatening weather, and improved crop progress report.  Funds seem to be building a n...

It was all about trade today at the CBOT. The weekend news of a U.S.-Japan trade deal was quickly and eagerly digested by the hog and cattle markets while...

Soybeans  Market Overview  There was significant movement in Brazil’s market last week, both on spot positions as well as new crop position...

One Year Balancing Act Favorable numbers for Wall Street and the unemployment rate are two metrics Donald Trump needs to win reelection. Employment has not...

Dec 19 Corn closed at $3.6825/bushel, up $0.005 from yesterday's close.  Dec 19 Wheat closed at $4.7525/bushel, down $0.025 from yesterday's close.&nb...

The announcement of a U.S.- Japan trade agreement over the weekend at the G7 couldn’t have come at a better time for the markets and for President Tr...

Regional News With summer drawing to an end for the Northern Hemisphere, the wheat crops are largely made and the corn and oilseed crops are in their final...

President Trump makes every free market economist cringe when he boasts about getting agreement from other national leaders to purchase more American produ...

THE OPEN November beans:  9  higher December meal:  1.20 higher December soyoil:  14 higher December corn:  2 1/4  higher Sep...

SPREADS October crush trades at 1.08c/bu while oilshare is a firmer trading to 32.79 percent.  Bean spreads remain wide with Nov/Jan trading out to 14...

GOOD MORNING, The markets continue to digest current USDA numbers, ProFarmer numbers, and trade war tensions that were ratcheted higher last week sending m...

USDA released its monthly Cattle on Feed (COF) report this afternoon, which was bullish as expected. The total inventory in feedlots with capacity of 1,000...

President Trump’s Twitter account was in overdrive this morning as he lashed out at China in a series of tweets, including a note that U.S. companies...

•  USDA reports that August 1 U.S. Cattle on Feed inventory is slightly above year ago; This is the highest August 1 inventory since the series b...

Dec 19 Corn closed at $3.6775/bushel, down $0.0325 from yesterday's close.  Dec 19 Wheat closed at $4.7775/bushel, up $0.06 from yesterday's close.&nb...

Psychological Warfare In addition to farmers, China knows that Donald Trump’s other weak spot is the American economy and, more specifically, the sto...

The Wall Street Journal analyzed how the S&P 500 reacted on the days President Trump tweeted more optimistically about trade policy; the argument being...

THE OPEN November beans:  5 1/4 lower December meal:   1.00 lower December soyoil:  21 lower December corn:    4 lower Decemb...

SPREADS Oct. crush trades at 1.09c/bu while oilshare trends down to 32.58 percent.  Meal steady against falling soyoil today.  The Dec 2019/20 co...

GOOD MORNING, Prices continue to consolidate within recent trading ranges with grains still not far from their recent highs.  The soy complex bounced...

Cattle on Feed Preview USDA’s monthly Cattle on Feed report will be released tomorrow. Pre-report estimates from the industry peg the total number of...

These are the kind of times that show why grain farming is such a risky business. After several years of grain and soy prices being pressured by very big c...

The markets are in the sweet spot where buyers and sellers are in agreement, and thus both bulls and bears can be dissatisfied by the stability of prices...

U.S. Soy Export sales Highlights Today USDA released the weekly export sales report for the week ending 15 August. It indicated net sales of soybeans total...

Dec 19 Corn closed at $3.71/bushel, up $0.0075 from yesterday's close.  Dec 19 Wheat closed at $4.7175/bushel, up $0.0375 from yesterday's close. ...

Few Ethanol Options Reuters reports that President Trump met today with USDA Secretary Sonny Purdue and EPA Administrator Andrew Wheeler to receive options...

THE OPEN Nov beans:   5 1/4 higher Dec meal:    1.70 higher Dec soyoil:  16 higher Dec corn:     2 1/4 higher Dec w...

Wheat:  Net sales of 594,600 metric tons for 2019/2020 were up 29 percent from the previous week and 19 percent from the prior 4-week average. &n...

SPREADS October crush trades firmer to 1.10c/bu while oilshare trades firmer at 32.72%.  Corn spreads are firmer with Dec/March trading into 11 3/4c f...

GOOD MORNING, The trading picture today looks similar to yesterday as grains struggle to stay afloat vs. a firmer soy complex trade.  Wheat continues...

Much like yesterday, today’s trading was dominated by crop tour yield numbers, good weather forecasts, and continued pressure on world wheat values...

Tax on U.S. Consumers Under the threat of even larger antidumping duties, Mexico agreed to the demand from Washington that its tomato shipments northward b...

Russian Grain Markets: 12-16 August 2019 Domestic prices in the European part of Russia mainly increased, partially because of the limited offer that resul...

Dec 19 Corn closed at $3.7025/bushel, up $0.015 from yesterday's close.  Dec 19 Wheat closed at $4.68/bushel, up $0.015 from yesterday's close. ...

THE OPEN Nov beans:  4 1/2 higher Dec meal:  .90 higher Dec soyoil:  33 higher Dec corn:  3/4 higher Dec wheat:  4 lower Prices op...

Livestock Live Hog Price Surges to Nearly RMB 21/kg China’s average live pig price set a new all-time high of RMB 20.92/kg ($2.98/kg) or RMB 9.49/lb...

SPREADS  October crush is 1.09c/bu while oilshare is slightly lower at 32.63 percent.  Dec/March corn trades from 12 1/2c to 12 3/4c while Dec 19...

GOOD MORNING, Funds were net sellers in grains yesterday which probably makes them even in corn to slightly short in wheat.  Outright fund positions i...

In gearing up for agriculture and ag policy, the 2020 election cycle is being looked at through the prism of politics. Typically, the farm vote is reliably...

Crop tour yield estimates were the feature of the day, and field reports that yields are likely to be lower than reflected in the August Crop Production re...

Dec 19 Corn closed at $3.6875/bushel, down $0.0575 from yesterday's close.  Dec 19 Wheat closed at $4.665/bushel, down $0.06 from yesterday's close.&n...

Russia Rapprochement French President Emmanuel Macron met with Russian President Vladimir Putin this week, and both agreed that changes in Ukraine have imp...

U.S. EPA Administrator Andrew Wheeler is accustomed to attacks from environmentalists, but attacks by farmers over the agency’s small refinery exempt...

Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS This past week has been the Eid Al Adha period in the Middle East/North Africa (MENA) region. Banks and...

THE OPEN November beans:  5 3/4 higher December meal:   1.50 higher December soyoil:  25 higher December wheat:  1 higher December...

GOOD MORNING, Prices are firmer this morning after the release of crop ratings and the first results of the Pro Farmer crop tour.  Despite recent rain...

SPREADS October crush trades at 1.09c/bu while oilshare is slightly weaker at 2.78 percent.  Dec/March corn trades from 12 1/4c to 12 1/2c, while Dec...

The comment period for the implementing rule on one of the biggest, most controversial and complex ag provisions of the 2017 Tax Cuts and Jobs Act (TCJA) c...

Weekend rains across Iowa, Illinois, and Indiana that are expected to boost corn and soybean yields pressured the CBOT today. Precipitation of 0.5-2”...

State-Directed Capitalism  Most governments around the world use policy to spur specific business winners in their economies. Canada will provide near...

Dec 19 Corn closed at $3.745/bushel, down $0.0625 from yesterday's close.  Sep 19 Wheat closed at $4.655/bushel, down $0.0525 from yesterday's close.&...

Argentina’s Domestic Situation As has been widely reported, Argentine President Mauricio Macri lost last week’s primary election against the Al...

The Pro Farmer Midwest Crop Tour kicks off this week, and already there are reports of the analysts finding problems in the fields with immaturity, of cour...

THE OPEN November beans:  8 3/4 lower December meal:  2.90 lower December soyoil:  15 lower December corn:    6 1/4 lower December...

Regional News Black Sea wheat is getting pushed out of Southeast Asian markets due to rising freight costs. As freight rates increase ahead of the emission...

SPREADS November crush trades at 96c/bu while oilshare breaks 33 percent to trade back to 32.98 percent.   Dec 19/Dec 20 corn spreads are weaker...

GOOD MORNING, Today's price action is lower as beneficial rainfall blanketed the drier portions of Iowa over the weekend.   In the west, moderate...

Dec 19 Corn closed at $3.8075/bushel, up $0.0975 from yesterday's close.  Sep 19 Wheat closed at $4.7075/bushel, up $0.0175 from yesterday's close.&nb...

The yield curve for Treasury bonds inverted on Wednesday, and that sparked a major stock sell-off as well as rampant speculation about the state of the eco...

Expectations of crop tours finding yields below USDA’s latest estimate gave the CBOT a boost to end what has otherwise been a bearish week. Private y...

Economic Conundrum The West turned unhappy with China’s trade and economic practices before Donald Trump, but it is unclear that his approach to the...

THE OPEN November beans: 5 3/4 higher December meal:  1.50 higher December soyoil;  19 higher December corn:    1 1/2 higher December w...

SPREADS November crush trades to 96c/bu while oilshare is 33.26 percent.  Corn spreads stabilize with Dec 19/Dec 20 trading to 32 3/4c from lows of 34...

GOOD MORNING, The commitment-of-trader's report will be out tonight.  Will it show that the managed money funds flipped from a long to a short positio...

The corn bulls have been hoping that the Pro Farmer crop tour will reveal USDA to be a liar. The crop voyeurs are seeing some yields below the its estimate...

It is said that grain traders seek certainty, but grain markets thrive on uncertainty. The days since USDA released its WASDE on 12 August have offered the...

China’s Tougher Approach The leadership of the Chinese government reportedly ended its secret enclave meeting at Baidaihe, and the question is, what...

Trade War‘s Long-Term Damage to U.S. Soybean Sector It has now been over 13 months since China imposed a 25 percent tariff on U.S. soybeans in respon...

Dec 19 Corn closed at $3.71/bushel, up $0.0075 from yesterday's close.  Sep 19 Wheat closed at $4.69/bushel, down $0.0475 from yesterday's close. ...

Tyson Fire and Cattle Markets As Matt Herrington reported on Monday, cattle futures were down the limit after Tyson’s packing plant in Garden City, K...

THE OPEN November beans:  steady December meal:  .80 lower December soyoil:  18 lower December corn:    3 higher December wheat:&n...

Wheat:  Net sales of 462,200 metric tons for 2019/2020 were down 5 percent from the previous week and 2 percent from the prior 4-week average. Corn:&n...

SPREADS October crush trades to 1.03c/bu while oilshare trades to 33 percent.  Dec/March corn narrows into 12 1/2c from 13 1/4c, while Dec 19/Dec 20 c...

GOOD MORNING, Prices are mixed this morning with more short-covering in beans, meal, and corn, with lower soyoil vs. meal trade.  The macro pressure o...

Markets continue to reel from the August WASDE with the trade trying to decide if USDA’s latest figures are wrong, right, or somewhere in between. On...

War’s Declining Options WPI is not the only observer that President Trump blinked when he postponed his threatened imposition of additional tariffs,...

Russian Grain Markets: 5-9 August 2019 Domestic prices moved in different directions: rising in regions where they had decreased too much the week before a...

Dec 19 Corn closed at $3.7025/bushel, down $0.0625 from yesterday's close.  Sep 19 Wheat closed at $4.7375/bushel, up $0.0175 from yesterday's close.&...

THE OPEN Nov beans:  5 1/2 lower Dec meal:  2.10 lower Dec soyoil:  3 lower Dec corn:    1 higher Dec wheat:  3 higher Prices...

Marco Trends China Food Inflation Hits Highest Level in 7.5 Years While Beijing has been occupied with the events in Hong Kong, food prices soared an astou...

SPREADS Oct. crush trades 1.08c/bu while oilshare corrects back under 33% to trade to 32.82%.  Spreads are weaker still with Dec 19/20 corn trading ou...

GOOD MORNING,  The market continued to respond to the USDA report on Monday with grains undergoing a round of long liquidation while shorts covered in...

Corn and wheat found continued pressure from overnight analysis of the August WASDE, while the soy complex managed to find significant support for the day...

With China’s economic data scheduled to be released tomorrow, the U.S. has made yet another round of adjustments to the pending 10 percent tariffs on...

Dec 19 Corn closed at $3.765/bushel, down $0.1625 from yesterday's close.  Sep 19 Wheat closed at $4.72/bushel, up $0.0025 from yesterday's close.&nbs...

Trump Blinked, Farmers Lose The White House announcement that tariffs on laptops, phones, clothing and other goods from China will be delayed until after t...

USDA reported that adverse spring weather prevented 19 million acres (7.68 million hectares) from being planted this season. To put that number in perspect...

Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Saudi Arabia is adjusting its wheat import requirements for implementation as of the next tender. Trade...

THE OPEN Nov beans:  4 higher Dec meal:   1.40 higher Dec soyoil:   18 lower Dec corn:    13 lower Dec wheat:  5 1/...

SPREADS  October crush trades to 1.09c/bu while oilshare trades to 33.33%.  Corn spreads were sharply lower; the Dec 19/Dec 20 inverse of 3c is n...

GOOD MORNING, The report yesterday was slightly bullish beans and bearish corn, which caught funds on the wrong side of both markets.  Skeptics may be...

The EPA announced late Friday that it had granted 31 small refinery exemptions (SREs) for 2018, bringing the total number to 7.4 percent of the overall 19...

Tiananmen Moment The U.S.-China trade war has justifiably captured the attention of macro watchers, and each day brings more warning signals. Today the Peo...

It was all about the WASDE today with futures mostly consolidating overnight before trading lower heading into the report. The most notable feature in the...

Dec 19 Corn closed at $3.9275/bushel, down $0.25 from yesterday's close.  Sep 19 Wheat closed at $4.7175/bushel, down $0.2775 from yesterday's close.&...

USDA reports for August 2019: Global oilseed supply and demand forecasts include lower production, trade, and stocks compared to last month. Lower soybean,...

USDA reports for August 2019: Changes for 2018/19 include reduced soybean crush, reflecting lower domestic use and exports of soybean meal. Soybean ending...

USDA reports for August 2019: U.S. oilseed production is projected at 111.5 million tons, down 4.5 million from last month mainly due to a lower soybean pr...

Soybeans  The soybean markets finally started moving with China actively buying at the beginning of last week. Crushers there decided to move after Pr...

USDA reports for August 2019: Larger supplies, reduced exports and corn used for ethanol, and greater ending stocks. Corn production is forecast at 13.9 bi...

USDA reports for August 2019: More U.S. wheat supplies, increased use and higher ending stocks. U.S. wheat production is raised 59 million bushels to 1,980...

It was an expensive day on LaSalle Street for those previously bullish the 2019/20 U.S. corn crop. Those betting that USDA’s second look at corn plan...

THE OPEN Nov beans:  7 1/4 lower Dec meal:    2.60 lower  Dec soyoil:  13 lower Dec corn:     6 lower Dec wheat:&nb...

Milling Wheat Wheat prices are steady/lower across Europe and the Black Sea to start the week with export competition and the advanced harvest progress kee...

MARKET REACTION  Corn prices sharply lower down 6 percent, taking wheat along for the ride, bean losses tempered with lower than expected acreage.&nbs...

SPREADS Crush values continue firm with October at 1.08c/bu and oilshare a strong 33%.  Dec/March corn trades from 10 1/4c to 10 1/2, with the Dec 19/...

GOOD MORNING, Prices are lower across the board this morning as better than expected rainfall crosses portions of the Midwest that need it.   Cor...

China’s Pitfalls Just because the Chinese government is communist in structure doesn’t mean it escapes the heavy dose of politics experienced i...

Dec 19 Corn closed at $4.1775/bushel, down $0.005 from yesterday's close.  Sep 19 Wheat closed at $4.995/bushel, up $0.01 from yesterday's close. ...

Ag commodities started the day higher with corn leading the way on a short covering rally. Positioning ahead of the WASDE was the name of the game today wi...

Uncertainty going into a WASDE has rarely been this large. In a continuing search for clues, the quiver keeps coming up empty. The known metrics of history...

THE OPEN November beans:  7 higher December meal:  1.50 higher December soyoil:  33 higher December corn:    3 higher  Decemb...

Farmland values are proving to be very stubborn given the state of farm commodity prices. Cropland values have increased $50/acre in 2019, up 1.2 percent f...

SPREADS September KC/Chicago spreads moved to new contract lows yesterday.  KC wheat/corn spreads moved back to levels conducive to putting HRW back i...

GOOD MORNING! Yesterday's price action was higher in beans and corn with the latter finding a bit more hedging as prices regained the upside.  Sharply...

After testing bottoms earlier this week, the commodity market (like equities) reversed on short covering and moved higher. Fund buying was active, and the...

The June export data for pork shows the Jekyll and Hyde situation facing the industry. Typically, those sales follow the seasonal slaughter pattern and sta...

Wheat:    Net sales of 487,700 metric tons for 2019/2020 were up 27 percent from the previous week and 17 percent from the prior 4-week average.&...

Dec 19 Corn closed at $4.1825/bushel, up $0.0425 from yesterday's close.  Sep 19 Wheat closed at $4.985/bushel, up $0.1025 from yesterday's close.&nbs...

U.S. Soybeans Should Now Be the Top Choice for Most Markets China’s announcement this week that it was cancelling the 25 percent tariff exemption on...

USDA’s August WASDE will be out at noon (EDT) on 12 August, and to say it is highly anticipated is an understatement. Grain and soy futures market tr...

President Trump’s economic war with China came into sharper focus this week as markets reacted to his latest salvo of tariffs. Critics warned that th...

THE OPEN Nov beans:  7 higher Dec meal:   1.50 higher Dec soyoil:  23 higher Dec corn:    3 higher Dec wheat:  2 1/2 hig...

SPREADS  Spreads were firming yesterday with the Goldman Roll this week. Dec/March corn trades into 9 1/4c from 9 3/4c.   Dec 19/Dec 20 corn...

GOOD MORNING, Prices are higher across the board this morning on a further correction of the recent down-move and an extended outlook for warmer and drier...

Ag commodities closed mostly higher for the day after trading both sides of unchanged. Continued weakness in macro markets pressured futures, while mild su...

Trade War Hits Environment Brazil’s National Institute for Space Research reported that the Amazon suffered a surge in deforestation during the past...

Russian Grain Markets: 29 July-2 August 2019 Domestic price development was atypical for this time of year with increases in the European part of Russia th...

Dec 19 Corn closed at $4.14/bushel, up $0.015 from yesterday's close.  Sep 19 Wheat closed at $4.8825/bushel, up $0.0425 from yesterday's close. ...

THE OPEN Nov beans:  2 higher Dec meal:   .10 higher Dec soyoil:  12 higher Dec corn:    1 1/2 higher Dec wheat:  1 1/4...

Livestock Live Hog Price Soars 3.6 Percent in Last Two Weeks of July China’s national average live hog price had another round of sharp increases to...

SPREADS Crush margins remain strong trading to 1.08c/bu while oilshare corrects a bit trading back below 32 percent to 31.79 percent.  Bull-spreads ar...

GOOD MORNING, Prices continue to congest in recent ranges with last week's lows holding so far.   Technically speaking, the downside trends were...

Funds were net sellers in a day that bears regained the fundamental advantage. With China having claimed yesterday to officially suspend its purchases of U...

The modern U.S.-China trade relationship has always been strained. President George W. Bush addressed this challenge by bringing China into the WTO to...

Dec 19 Corn closed at $4.125/bushel, down $0.0225 from yesterday's close.  Sep 19 Wheat closed at $4.84/bushel, down $0.105 from yesterday's close.&nb...

Power of Agriculture In the 2016 presidential campaign, Senator Ted Cruz (R-Texas) won a plurality but not a majority of Iowa Republican votes after saying...

Brazil has the largest fleet of cars converted to use the highest blends of ethanol, and the government is reportedly debating whether to remove duties on...

THE OPEN November beans:  1 3/4 higher December meal:   1.60 lower December soyoil:  22 higher December corn:    2 3/4 lower...

Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS A feed protein production facility is going to be established in Saudi Arabia. It is reportedly intende...

SPREADS October crush firm at 1.06c/bu while oilshare trends lower down to 32.11%.  Dec 19/Dec 20 corn spread firms to 1/4c from 3/4c carry after trad...

GOOD MORNING, The main feature on Monday was that after a weaker start, Ags held together fairly well.  Today is therefore important to see if it shor...

Dec 19 Corn closed at $4.15/bushel, up $0.0025 from yesterday's close.  Sep 19 Wheat closed at $4.92/bushel, down $0.025 from yesterday's close. ...

Congress is on its annual August recess, so not much policy making will be underway on Capitol Hill. However, there will be plenty of suggestions generated...

Reversal is the CBOT’s word of the day. Grain markets started out weaker overnight as concerns about the trade war with China deepened. Over the week...

American food marketers view Europe as a biotechnology backwater, paranoid about GMOs and a lost cause on the topic. However, there are worse aspects to th...

Soybeans The market changed quickly last week after President Trump tweeted that the U.S. would impose an additional 10 percent tariff on $300 billion wort...

THE OPEN November beans:  11 lower December meal:   3.10 lower December soyoil:  35 lower December corn:    8 lower December...

The renminbi fell below 7 to the U.S. dollar this past Friday, and that raises the risk of at least two possible developments: 1) the exodus of money out o...

Regional News Ukraine’s sea port grain exports for the week ending 2 August 2019 increased to 1.09 MMT from 861 TMT the prior week. Corn exports incr...

SPREADS Crush margins improve with October trading to 1.10c/bu while oilshare continues to firm at 32.37%.  Meal prices continue to trend downward vs...

GOOD MORNING, Prices are lower this morning, but the weakness is noted across the board for equities and commodity prices entering a macro day of across-th...

Overnight trading saw the start of a modest recovery at the CBOT with corn finishing 3.5 cents higher, soybeans up 5.75 cents and wheat gaining 3 cent...

Tariffs are effectively a tax, but many partisans are overstating their impact. Frequently, the pundits are saying the tariffs being imposed on China only...

In the rush of the current bear market, some are now predicting that yields may exceed USDA’s early estimates. These forecasts are met with some incr...

This afternoon President Trump and EU Ambassador Stavros Lambrinidis announced an agreement regarding the EU’s Hilton quota, commonly referred to as...

Dec 19 Corn closed at $4.095/bushel, up $0.07 from yesterday's close.  Sep 19 Wheat closed at $4.9075/bushel, up $0.15 from yesterday's close.  N...

THE OPEN November beans:  3 3/4 higher December meal:  .60 higher December soyoil:  21 higher December corn:    3 1/2 higher Decem...

SPREADS  October crush trades top 1.06c/bu while oilshare trades to 31.94 percent.  Traders continue to buy soyoil/sell meal.   Dec19/D...

GOOD MORNING, The markets were in adjustment mode yesterday to the downside and fell sharply after Trump's announcements about more possible tariffs starti...

Except for Kansas City wheat, markets were down overnight, and everything nosedived today. December corn initially tried to recover, but that didn’t...

Proof that the trade talks in China did not yield the progress that was expected or hoped for, President Trump announced via twitter today (see below) that...

Orange Man Bad President Donald Trump tweeted today that next month he would impose 10 percent duties on the remaining $300 billion worth of goods imported...

Current grain and soy futures markets remind us of two old market clichés. The first is, “bears make money, bulls make money, but hogs get sla...

China to Inspect Argentine Soy Crush Plants The Argentine agriculture secretary’s chief of staff has indicated a Chinese delegation will begin a visi...

Dec 19 Corn closed at $4.025/bushel, down $0.075 from yesterday's close.  Sep 19 Wheat closed at $4.7575/bushel, down $0.115 from yesterday's close.&n...

From Reuters:  *DJ Trump to Impose Additional 10% Tariff on Chinese Goods  Trump to Impose Additional 10% Tariff on Chinese Goods on Sept. 1 * Tr...

THE OPEN Beans:  1 1/2 lower Meal:    1.50 lower Soyoil:  13 higher Corn:    steady Wheat:  7 lower The major features o...

Wheat:  Net sales of 383,100 metric tons for 2019/2020 were down 42 percent from the previous week and 2 percent from the prior 4-week average. &...

SPREADS October crush trades higher at 1.04c/bu while oilshare is steady/better at 31.84 percent.  Dec/March corn trades from 10 1/4c to 10 3/4c, clos...

GOOD MORNING, The lack of significant heat across the US and a perceived break-down in Chinese/US trade talks combined to create long liquidation in corn a...

It was one-sided trading at the CBOT today with nearly every market flashing sell signals. The sell-off has been blamed on end-of-the-month selling/positio...

Russian Grain Markets: 22-26 July 2019 Domestic prices decreased more slowly in regions where there was movement from old crop to new harvest grain and gre...

Dec 19 Corn closed at $4.1/bushel, down $0.11 from yesterday's close.  Sep 19 Wheat closed at $4.8725/bushel, down $0.1 from yesterday's close. ...

War into 2021 The Vietnam War lasted 17 years and four months, and the war in Afghanistan now exceeds that length. The U.S.–China trade war is not ex...

THE OPEN  Nov beans:  6 lower Dec meal:  1.30 lower Dec soyoil:  18 lower Dec corn:     3 1/2 lower Dec wheat:  5 l...

Oilseeds Soymeal Inventory Falls Again on Lower Output With demand continuing to falter, crushing activity has remained limited with utilization rates belo...

SPREADS  October crush trades at 1.01c/bu while oilshare remains a fairly steady 31.86%.  Corn spreads are generally weaker with the Dec 19/Dec 2...

GOOD MORNING,  End-of-month profit-taking, non-threatening weather, low exports, and negative rhetoric for the trade negotiations combined to send pri...

Improving corn conditions and presidential tweets noting that China has not purchased any agricultural goods sent the markets lower overnight. The tweets s...

In a rare display of compromise (if not bipartisanship), the Trump administration and Congress reached a two-year budget deal. The plan lays out a top line...

Dec 19 Corn closed at $4.21/bushel, down $0.06 from yesterday's close.  Sep 19 Wheat closed at $4.9725/bushel, down $0.0625 from yesterday's close.&nb...

Reading China There is little concrete messaging from the U.S.–China trade negotiations this week, but an announcement out of Beijing may reflect pos...

THE OPEN November beans:  6 1/2 lower December meal:  2.80 lower December soyoil:  1 lower December corn:    4 1/2 lower December...

WPI’s Crop Progress and Conditions App provides visual snapshots of the latest USDA data on this year’s rain-delayed plantings. The pictures ar...

Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Saudi Arabia’s SAGO has advised that the pre-qualified flour mill bidders will finish their due d...

WPI's monthly publication features a review of the past month's market and policy developments. This issue covers the outlook for the 2019/20 U.S. crop mar...

SPREADS  Sep crush firms to 97c/bu while oilshare values push towards 32% with a trade at 31.95% this morning.  Corn spreads are weaker with Dec...

GOOD MORNING, Better than expected crop ratings and non-threatening weather continues to weigh on prices as they move back and forth in choppy trade. ...

CBOT ag markets traded mostly higher today with a growing feeling that positions are being exited and new longs/shorts avoided. Volume was largely below av...

The EPA published the 2020 Required Volume Obligations (RVOs) for ethanol and biodiesel in today’s Federal Register, an unusually long lag after publ...

Worse than Trump President Trump chided that China may intentionally slow down bilateral trade negotiations until after the 2020 U.S. election, suggesting...

Dec 19 Corn closed at $4.27/bushel, up $0.025 from yesterday's close.  Sep 19 Wheat closed at $5.035/bushel, up $0.075 from yesterday's close.  N...

Russia’s area planted to its five major crops has expanded 23 percent since 2012. Soybeans have gained the most over the past decade, absorbing 37 pe...

Soybeans Brazil The market was nearly dead last week with little demand but many sellers and China taking only a few September vessels from Brazil. There w...

THE OPEN Nov beans:  2 1/2 higher Dec meal:  .80 higher Dec soyoil:  3 higher Dec corn:   3 higher Dec wheat:  3 1/4 higher A...

Regional News China approved wheat and soybean imports from Russia’s Kurgan region, according to an official Chinese statement made on Friday. China...

SPREADS Sep crush trades to 96c/bu while oilshare is higher again at 31.82%.    The Dec/Dec corn inverse trades down to 8c from 11 3/4c.  Se...

GOOD MORNING, Prices begin the week on a firm tone after pressure over the last several weeks resulted in a test of trading range lows. This morning's dire...

Overnight trading was slightly weaker as the selling continued after yesterday’s disappointing close. Positions are being liquidated as summer weathe...

Dec 19 Corn closed at $4.245/bushel, down $0.03 from yesterday's close.  Sep 19 Wheat closed at $4.96/bushel, down $0.035 from yesterday's close. ...

EU-Mercosur Wreck EU leaders proudly announced a trade agreement with the Mercosur group of countries last month, but that is now in political jeopardy. En...

As expected, USDA announced the second round of Market Facilitation Payments (MFPs) yesterday. They are more generous than expected and can reach up to $15...

Growth is slowing in the major economies (see survey graph below), and stimulus is needed to move back into a higher gear. The European Central Bank change...

THE OPEN November beans:  1 higher December meal:  .20 higher December soyoil:  steady December corn:    1 1/2 lower September whe...

SPREADS Sep crush firms back to 98c/bu while oilshare eases off its monthly highs to trade to 31.78 percent.   September contract liquidation con...

GOOD MORNING, It was a disappointing close for the bulls yesterday as prices closed defensively for most.   Good weather and a lower export pace...

Agricultural commodity markets remained weak overall, and equities had a down day too. Wheat had some gains, but much of the complexes went south. Expectat...

The U.S. and the rest of the Northern Hemisphere are in the midst of the growing season for grain and oilseed crops, and we intently follow weather models...

Transatlantic Crossing EU Trade Commissioner Cecilia Malmström painted a pretty bleak picture of transatlantic relations before the European Parliamen...

Dec 19 Corn closed at $4.275/bushel, down $0.0325 from yesterday's close.  Sep 19 Wheat closed at $4.995/bushel, up $0.0175 from yesterday's close.&nb...

Hope for Breakthrough in Next Week’s U.S.–China Negotiations It is now confirmed that USTR Lighthizer and Treasury Secretary Mnuchin will meet...

THE OPEN November beans:  2 1/2 higher December meal:   .30 lower December soyoil:  20 higher December corn:    1 lower Septe...

USDA’s monthly Cold Storage report was released on Monday, and it showed the 30 June red meat and poultry inventory at 2.392 billion pounds, 97.2 per...

Wheat:  Net sales of 659,700 metric tons for 2019/2020 were up 90 percent from the previous week and 74 percent from the prior 4-week average. &n...

SPREADS  Sep crush falls to 93c/bu while oilshare continues to advance upward to new monthly highs of 31.76 percent.  Dec/March corn widens out t...

GOOD MORNING, Price action continues in trading range territory with the bean market well bid from $9.00 on the back of more optimism as regards trade talk...

Overnight trading saw notably firmer prices with corn up 4 ¼ cents, soybeans up 5 ½ cents ,and SRW wheat up 8 cents. Forecasts for another he...

Good USMCA Vibes The chief deputy Democratic whip in the U.S. House of Representatives, Henry Cuellar (Texas), said that Congress will pass the USMCA this...

Dec 19 Corn closed at $4.3075/bushel, down $0.0075 from yesterday's close.  Sep 19 Wheat closed at $4.9775/bushel, up $0.105 from yesterday's close.&n...

THE OPEN Nov beans:  4 1/4 higher Dec  meal:   .60 higher Dec soyoil:  23 higher Dec corn:    3 higher Sep wheat: ...

Livestock Big Live Hog Price Increase As expected, the June survey of major hog producers in China reveals that the live pig price has begun to take off.&n...

Russian Grain Markets: 14-19 July 2019 Domestic grain prices decreased sharply as more regions switched to 2019 yield prices. Only corn prices managed to e...

SPREADS  Sep wheat/corn spreads finished the day at contract lows Tuesday, indicating further weakness could be ahead.  This morning, Sep wheat/c...

GOOD MORNING, The markets continue to monitor the pace of demand, weather, and the overall production possibilities for the Corn Belt.  However, it wa...

Now that a budget agreement has been struck that will avoid another government shutdown, Congress will be in session for three more days before the August...

USMCA’s Timid Opposition A coalition of 600 business groups wrote a letter urging the U.S. Congress to quickly pass the U.S.-Mexico-Canada Agreement...

Dec 19 Corn closed at $4.315/bushel, up $0.0475 from yesterday's close.  Sep 19 Wheat closed at $4.8725/bushel, up $0 from yesterday's close.  No...

Overnight trading featured extended weakness in the soy complex while wheat and corn managed small gains. Yesterday’s fund selling pushed markets tow...

Markets are still trying to figure out the impact of 2019 weather on crop production and historical references only make it partially easier. Prices in the...

THE OPEN Nov beans:  3 1/4 lower Dec meal:  1.90 lower Dec soyoil:  18 higher Dec corn:  1 higher Sep wheat:  1 1/4 higher The mar...

Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS The latest USDA-FAS report on Turkey says that very dry weather could reduce the wheat and barley produ...

SPREADS Sep crush firms to 95c/bu from 92c/bu yesterday with a bounce in oilshare up to 31.19%.  Dec/March corn trades from 8 1/4c to 8 3/4c, while th...

GOOD MORNING, Improved weather patterns dominate price direction as grain longs liquidate in front of the USDA report.  Weakest performance for the da...

Murphy’s Law (i.e., anything that can go wrong will go wrong) has been in full force for corn farmers this year. Floods, cold weather and high soil m...

U.S. Ambassador to the European Union Gordon Sondland said last week that the new EU leadership under Commission President Ursula von der Leyen made him op...

Today was all about improved weather forecasts for the Midwest. Weekend showers across the upper Midwest offered a modest reprieve from the extreme heat, a...

Dec 19 Corn closed at $4.2675/bushel, down $0.09 from yesterday's close.  Sep 19 Wheat closed at $4.8725/bushel, down $0.1525 from yesterday's close.&...

Soybeans Argentina FOB replacement levels are still at 40Q, and the local market has a few offers of about 50,000 MT/day. One cargo traded FOB at 34Q for A...

Iran is seizing foreign-flagged vessels in the Strait of Hormuz, and the U.S. is shooting down drones in the region. Analysts say that Tehran is intentiona...

THE OPEN Nov beans:  2 1/2 lower Dec meal:  0.60 lower Dec soyoil:  steady Dec corn:   6 lower Sep wheat:  2 1/2 lower  ...

Regional News 819,000 MT of grain were exported from Ukrainian seaports during 13-19 July 2019, up sharply from 499,000 MT the previous week and mostly des...

SPREADS Corn spreads have firmed with Sep/Dec corn trading into 8c from 8 1/2c.  The Dec/Dec corn inverse is weaker, however, trading from 17 1/2c dow...

GOOD MORNING, Prices ended on an upbeat note Friday on rumors of Chinese bean buying out of South America along with stories of low protein Brazilian beans...

Soybeans quickly moved into the green during overnight trading and extended those gains early this morning. November soybeans finished that session 9.75 ce...

Two key cattle reports came out this afternoon after the market close, but there won’t be much excitement generated from either. The monthly Cattle o...

The current global population is estimated to total around 7.5 billion. By most measures, the world creates or produces enough food to feed them all. In th...

Attack on Institutions Donald Trump campaigned in 2016 against the institutions of government and called for “draining the swamp.” Now his oppo...

United States Cattle on Feed Up 2 Percent at 11.5 million head on July 1, 2019. The inventory was 2 percent above July 1, 2018. This is the highe...

Dec 19 Corn closed at $4.3575/bushel, up $0.06 from yesterday's close.  Sep 19 Wheat closed at $5.025/bushel, up $0.09 from yesterday's close.  N...

THE OPEN November beans: 9 3/4 higher December meal:    2.40 higher December soyoil:  13 higher December corn:  2 1/2 higher September...

China’s economic growth and now the trade war have rewritten the demand scenario much as the Black Sea region has rewritten the supply side. The Russ...

SPREADS Sep crush trades to 96c/bu while oilshare weakens to 30.95%.  Corn spreads are slightly wider with Dec/March trading out to 8 1/2c while Sep/D...

GOOD MORNING, Topping formations and slightly improved forecasts for next week shook the weaker corn bull out this week on a healthy dose of housecleaning...

Losing Count of Chinese Pigs Yesterday China announced a new African swine fever (ASF) outbreak in Sichuan Province, bringing the total now reported to mor...

Trump Policy Gets Support Dutch Prime Minister Mark Rutte is in Washington this week and told an Atlantic Council audience that instead of fighting the Tru...

Not Much Improvement in U.S. Soy Export Sales Last Week Today’s USDA export sales report indicated the week ending 11 July was another challenging on...

It was mostly a risk-off day as the prospects for better Midwest weather combined with continued technical selling sent prices lower. It may not be the bot...

Dec 19 Corn closed at $4.2975/bushel, down $0.1175 from yesterday's close.  Sep 19 Wheat closed at $4.935/bushel, down $0.12 from yesterday's close.&n...

THE OPEN: Nov beans:  3 3/4 lower Dec meal:  1.10 lower Dec soyoil:  2 higher Dec corn:    7 lower Sep wheat:  6 3/4 lower A...

Wheat:  Net sales of 347,300 metric tons for 2019/2020 were up 22 percent from the previous week and 2 percent from the prior 4-week average.  Co...

SPREADS Sep crush is firmer at 98c/bu while oilshare firms back over 30% to trade to 31.10% as meal dips against a firmer soyoil market.  Corn spreads...

GOOD MORNING, Prices are lower as more organized rainfall hits key growing areas across Minnesota, Illinois, Missouri, and Iowa.   Heavy showers...

Modest volume in overnight trading featured mostly lower prices before the market turned higher heading into the morning break. Corn, soybean, and wheat fu...

USMCA Hope House Ways and Means Committee Chairman Richard Neal (D-Massachusetts) reportedly said that congressional Democrats do not want to delay a vote...

Russian Grain Markets: 8-12 July 2019 The downward trend in domestic prices continued for the most part. However, the average milling wheat (12.5 percent p...

Dec 19 Corn closed at $4.415/bushel, up $0.0025 from yesterday's close.  Sep 19 Wheat closed at $5.055/bushel, down $0.02 from yesterday's close. ...

Bottom Line: Markets are technically sideways until there is new information to guide them. It is fairly interesting that if you pop up a bean, wheat, or c...

Macro Trends Monthly Food Inflation Hits Highest Level in Seven and a Half Years With China’s annualized gross domestic product (GDP) growth rate fal...

THE OPEN: November beans:  4 1/2 higher December meal:    1.40 higher December soyoil:   17 higher December corn:    &nb...

SPREADS Sep crush trades firmer at 97c/bu while oilshare firms to 31.25%.  Buy soyoil/sell meal trade continues.   Dec/Dec corn inverse trad...

GOOD MORNING, Prices continue to work into trading range territory, with current precipitation taking us down towards trading range lows encouraged by the...

The Office of Management Budget reported yesterday that its review of the Market Facilitation Program (MFP) trade mitigation payments is finished. However,...

Overnight trading saw continued selling from Monday’s weaker day with soybeans leading the way lower to losses in excess of 10 cents. Soymeal was als...

U.S. agriculture utilized a quarter-million temporary migrant workers last year under the H-2A agricultural guest worker program, and it was still far from...

Dec 19 Corn closed at $4.4125/bushel, down $0.0575 from yesterday's close.  Sep 19 Wheat closed at $5.075/bushel, down $0.0025 from yesterday's close...

Farmers mostly want to grow what is easy and profitable. Excluding government payments, all the major crops have turned negative for U.S. farmers in terms...

THE OPEN: November beans:  12 lower December meal:    4.20 lower December soyoil:   20 lower December corn:     8 l...

Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Egypt has advised that fuel prices will be reviewed every three months after recent increases of up to...

SPREADS Sep crush trades at 95.55c/bu while oilshare firms further to 31.27%.  Dec/March corn trades out to 7 1/2c from 6 3/4c while the Dec/Dec inver...

GOOD MORNING, Prices are lower this morning as more rains spread across the Midwest.  Good rains moved through Wisconsin and Minnesota overnight, with...

The CBOT fell modestly in overnight trading with soybeans and soymeal leading the way. Corn and wheat followed the soy complex lower to losses of a few pen...

Barriers and Ag’s Future The Greens and other liberal groups in Europe have aligned their sights on turning European agriculture into a chemical-free...

Soybeans Brazil  The Brazilian market was almost entirely dead last week with Chinese buyers sidelined and not bidding on any position. Their absence...

Dec 19 Corn closed at $4.47/bushel, down $0.1225 from yesterday's close.  Sep 19 Wheat closed at $5.0775/bushel, down $0.1525 from yesterday's close.&...

The market adage that “big crops grow bigger” means that forecasts typically start out conservative, and a season that starts well typically en...

Two major policy issues for biodiesel are on the docket: 1) a review of the countervailing duties (CVDs) on biodiesel imports from Argentina, and 2) the re...

THE OPEN Nov beans:  6 lower Dec meal:   1.10 lower Dec soyoil:  2 lower Dec corn:    2 1/2 lower Sep wheat:  6 lower Th...

Milling Wheat Wheat prices are mixed across Europe and the Black Sea today as the market continues to react to the WASDE report. French prices are slightly...

SPREADS Sep crush is weaker this morning at 93c/bu while oilshare firms to 31 percent.  The Dec/Dec corn inverse trades from 41 3/4c down to 33 1/2c,...

GOOD MORNING, The markets posted new highs in the recent rally with gap-higher technical action that found some interested sellers and gap-closure.  N...

The Federal Reserve looks poised to cut interest rates - or does it? This depends upon whether you consider what the Fed says it looks at – inflation...

Charting a New Course Former Vice President and now Democratic presidential candidate Joe Biden said this week that President Trump’s trade war tarif...

Overnight trading saw corn and soybeans firmer on continuation of yesterday’s post-WASDE rally, while bulls were firmly in control during the day ses...

Dec 19 Corn closed at $4.5925/bushel, up $0.1125 from yesterday's close.  Sep 19 Wheat closed at $5.23/bushel, up $0.015 from yesterday's close. ...

Cow/calf operations in the southern Plains and across the U.S. are facing sharply negative production margins. WPI’s latest research suggests the ave...

THE OPEN: Nov beans:  2 higher Dec meal:    1.40 higher Dec soyoil:  16 lower Dec corn:     5 higher Sep wheat:  1...

SPREADS Sep crush is lower again today, trading down to 95c/bu while oil trends weaker as well, trading down to 30.95 percent.    The Dec/Dec cor...

GOOD MORNING, The WASDE’s major takeaway: we have less wheat supply around the world than we previously thought. This kicked off a short-covering ral...

Wheat:  Net sales of 284,400 metric tons were reported for delivery in marketing year 2019/2020.   Corn:  Net sales of 505,400 MT for 2...

Grain traders from commodity fund managers to the big multinational agribusinesses have consistently complained about the lack of profitable trading opport...

USDA Notes: Global oilseed exports for 2019/20 are projected at 175.0 million tons, down slightly from last month.  Global oilseed ending stocks for 2...

USDA Notes: Beginning stocks are reduced with higher 2018/19 residual use more than offsetting lower crush and seed use.  Residual use for 2018/19 is...

The unique aspect going into today’s WASDE report was the diversity of issues and opinions about what it would say. Markets are especially uncertain...

USDA Notes: Soybean production for 2019/20 is projected at 3.845 billion bushels, down 305 million based on lower planted and harvested area in the June 28...

ASF and Turkey Turkey prices have been in a relative tailspin for two years. Wholesale hen prices started dropping in mid-2017 from about $1/pound and reac...

USDA Notes: This month’s 2019/20 U.S. corn outlook is for larger production and beginning stocks, greater feed and residual use, lower food, seed, an...

USDA Notes: The outlook for 2019/20 U.S. wheat this month is for lower supplies, higher domestic use, larger exports, and reduced stocks.  Supplies ar...

Dec 19 Corn closed at $4.48/bushel, up $0.085 from yesterday's close.  Sep 19 Wheat closed at $5.215/bushel, up $0.1675 from yesterday's close. ...

Soy-Related Changes in USDA WASDE Report USDA somewhat surprised market analysts today by reducing the forecast for U.S. soybean production in 2019 by more...

THE OPEN Nov beans: 2 lower Dec meal: .90 lower Dec soyoil: 4 lower Dec corn: 4 3/4 lower Sep wheat: 3 1/4 lower Prices opened as expected with further c...

Retaliation Against China The market rumor is that China is inquiring about U.S. soybeans, and it better be or else. President Trump and economic advisor L...

JULY WASDE Yield: unchanged for corn, and slightly lower for beans bean yield:  48.5 bpa, generally as expected, maybe a bit higher corn yield: ...

SPREADS Sep crush is lower trading down to 96c/bu, new lows for the move down after prices had stabilized at 1.00c/bu.  Oilshare sits at 31.11%. ...

Overnight trends once again feature a slightly firmer soy complex versus mixed corn values. Funds purchased the board yesterday and appear ready to get lon...

CHICAGO--The following are analysts' estimates in millions of bushels for U.S. ending stockpiles for 2018-19 and 2019-20, as compiled by The Wall Street Jo...

Overnight trading was weaker with modest volume and choppy price action as the trade waits for tomorrow’s July WASDE. Open interest grew for corn, so...

Drab WTO Reforms The U.S. has motivated other major WTO members to seek reforms for the organization, and the latest list of proposals reveals how moribund...

Dec 19 Corn closed at $4.395/bushel, up $0.0225 from yesterday's close.  Sep 19 Wheat closed at $5.0475/bushel, up $0.02 from yesterday's close. ...

Russian Grain Markets: 1-5 July 2019 Domestic prices mostly continued to drop as there were increasingly more offers and bids for 2019 production and fewer...

THE OPEN Nov beans:   4 higherDec meal:    .50 higherDec soyoil:   25 higherDec corn:     1/4 lowerSep wheat:&...

Oilseeds Soymeal Inventory Climbs for Fifth Straight Week With feed demand continuing to soften as more previously unidentified African swine fever (ASF) c...

Today, WPI will proudly launch a new report, Technical Perspectives, in cooperation with Lefcourt Commodities Forecasting. The new report will feature tech...

Overnight trading found CBOT futures lower after yesterday’s rally in corn stalled at key moving average (MA) resistance and from yesterday’s t...

Molasses left over from the processing of beets for sugar is typically the poor cousin to the molasses that results from making sugar from sugarcane. Cane-...