By early next week, EPA Administrator Scott Pruitt is expected to present President Trump’ with a list of options regarding biofuels policy and ways...

Deep Water USDA ignored the advice of the National Organic Standards Board (NAOB) and organic hardliners by allowing the continued use of carrageenan in or...

Changes in energy products’ recent price behavior point to potential trading opportunities. Similarly, the momentum indicators in grains show opportu...

Can China use its large soybean stocks to punish the U.S. in a soybean trade war? Maybe, but it will be very difficult to do so.  Recently, some analy...

Last night’s trade appeared to be headed toward steady or perhaps slightly higher openings following yesterday’s rebound in corn and wheat futu...

WPI provides a summary of the week’s futures price activity and the gains/losses experienced by grain, oilseed, and livestock markets. Additionally,...

  Record Sugar Production Expected as Prices Tumble and Arrears Mount India’s sugar production for 2017/18 (October-September) is now expected t...

Those of us who might watch any of the various business news channels often wonder just how good their information is. This question becomes more important...

Overnight trade saw grain and soy prices continue the recovery that began during Wednesday’s day session, which followed the major sell-off immediate...

China Proposing Tariffs on U.S. Beef China’s tariffs for U.S. pork products (see Ag Perspectives, 2 April 2018), which are in addition to existing du...

An Excellent Week for U.S. Soy Export Sales Today’s USDA export sales report showed last week was very good for U.S. soybeans, soymeal and soyoil. So...

China’s announcement of a planned retaliation against the 25 percent U.S. tariff on $50 billion worth of its exports was released during the Tuesday...

Recent price activity for ag, energy, and soft commodities is examined in tabular and graphical format. The most important price analysis is distilled for...

World weather worries sent the entire grains complex higher in today’s trading, with corn and wheat futures advancing beyond Tuesday’s pre-Chin...

Today’s closing prices for corn, wheat, soybeans, cattle, and hog futures are shown along with USDA’s Export Sales results. Analysis of the lat...

Trade War Adjustments Back in 1973, the U.S. imposed a soybean export embargo and then export licensing requirements due to short supply concerns. The resu...

This week’s Export Sales report from USDA offers insight into the grain market’s likely price pattern going forward. Based on historic export p...

Russian Grain Markets: 26-30 March 2018 Domestic feed grain prices continued growing due to stable demand from exporters. Milling wheat export prices were...

Ag, energy, and soft commodity futures’ technical patterns, including momentum and long-term indicators, are examined. Changes in the forward curve f...

Yesterday the Trump administration detailed a list of about 1,300 items imported from China that it intends to subject to a 25 percent tariff to offset $50...

The fireworks started at 3 AM in the grains market this morning, coinciding with China’s announcement of retaliatory tariffs on U.S. ag products, inc...

Today’s closing prices for the first six listed futures contracts for major grain, oilseed, and livestock contracts are shown along with their change...

Drip, Drip, Drop USDA Secretary Sonny Perdue told his audience at Michigan State University this week that the Trump administration’s trade policy ap...

Oilseeds Soymeal Inventory Continues to Fall as Utilization Rates Decrease With crushers reducing their operational output, China’s soymeal inventory...

Early this morning, China announced U.S. soybean imports would be subjected to a 25 percent tariff. The move comes in response to proposed U.S. tariffs on...

Yesterday’s big trading volume and price declines were tempered overnight with soybeans and wheat turning a bit higher while corn mostly stayed withi...

Argentina Changes Basis for Export Tax Payments The Argentine government has modified its export tax system for soybeans and soy products as well as other...

Changes in Commodity Analytics’ short-term technical indicators for grain futures should be carefully examined against long-term signals. Elsewhere,...

Activity in the Chicago SRW wheat market spilled over into HRW and HRS wheat futures. Shifts in the soybean, soyoil, and soymeal futures indicate a changin...

Trump’s Curious Trade Policy Developments in U.S. trade policy are not consistent with the professed message of the Trump administration. For example...

Early gains in corn and soybeans gave way to selling pressure this afternoon while poor crop condition ratings for winter wheat boosted prices across the b...

The geopolitics of trade has been in the news and on the negotiating table since the first year of the Trump administration, all casting the U.S. as coming...

News Updates Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS The Oman Food Investment Holding Company (OFIC) is planning to invest $100 million in a fa...

The fundamental soybean supply/demand outlook has fallen into a classic tug-of-war between competing bullish and bearish factors, which makes forecasting t...

USDA released its quarterly Hogs and Pigs report last Thursday and before the three-day market holiday. The total 1 March hog and pig inventory was 72.9 mi...

WPI previously took an early peek at the potential 2018/19 U.S. corn outlook (see Ag Perspectives, 19 March) and estimated U.S. farmers would plant a total...

Changes in energy products’ recent price behavior point to potential trading opportunities. Similarly, the momentum indicators in grains show opportu...

Markets had strong buying in the Sunday night session following the three-day Easter weekend and USDA’s bullish corn/soybean acreage estimates of las...

It is difficult for U.S. agriculture to see any positives in Trump trade policy, and following are a few examples why: The harsh rhetoric associated with...

WPI provides a summary of the week’s futures price activity and the gains/losses experienced by grain, oilseed, and livestock markets. Additionally,...

Soybeans Last week was again volatile for South American soybeans. Brazil’s basis continued rising until USDA shocked the markets on Thursday with sh...

Milling Wheat Domestic prices in Russia were stable except for the $4/MT increase in the southern region, which is close to the Black Sea and Azov Sea port...

Recent price activity for ag, energy, and soft commodities is examined in tabular and graphical format. The most important price analysis is distilled for...

Understanding U.S. Trade Policy Most leaders of international organizations refrain from publicly criticizing any member of their group. However, World Tra...

Grain and soy futures markets basically just marked time overnight and this morning until USDA released its quarterly stocks and prospective planting repor...

USDA’s 1 March quarterly stocks and initial planting intentions reports have a history of providing market-moving surprises, and today’s releas...

Soy Export Sales Highlights Today’s USDA export sales report for the week ending 22 March was a bit disappointing for soybeans but positive for soyme...

Hogs and Pigs Report Coming  USDA releases its quarterly hogs and pigs inventory report after trading closes today and ahead of the three-day holiday...

Today’s closing prices for corn, wheat, soybeans, cattle, and hog futures are shown along with USDA’s Export Sales results. Analysis of the lat...

“Where did those acres go?” That’s the question analysts around the world are asking in the wake of toady’s USDA reports. The repor...

Changes in U.S. market share for global soyoil exports, along with those of soymeal, are analyzed. Results offer insight into the opportunities U.S. export...

Power of Phonies According to Polish author Tomak Jankowski, the biologist Trofim Lysenko sought to make a name for himself in the early days of the Soviet...

Low volume and mixed price movement for grains and the soy complex characterized both overnight trading and the day session. Most traders seem to be positi...

Ag, energy, and soft commodity futures’ technical patterns, including momentum and long-term indicators, are examined. Changes in the forward curve for gra...

Russian Grain Markets: 19-23 March 2018 Domestic feed grain prices continued to rise, primarily due to higher demand from exporters. However, FOB prices st...

The fireworks were in the livestock futures markets today as lean hog futures pulled an impressive reversal on big trading volumes. This support spilled ov...

Today’s closing prices for the first six listed futures contracts for major grain, oilseed, and livestock contracts are shown along with their change...

Livestock Live Pig Prices Fall for 10th Straight Week Despite optimism from some market observers regarding the near and mid-term strength of China’s...

Trade Somersaults Analysts are now writing that U.S. trade policy is destabilizing the world economy, though Trump supporters would say that global trade p...

In contrast to the heavy volume during the Sunday/Monday overnight session, trade was very light last night and in the early morning. Futures price action...

Yesterday was the deadline for the bankruptcy case filed by Philadelphia Energy Solutions (PES). A settlement approved by a federal judge includes a contro...

The factors that affect the grain and soy markets’ price movements are obviously always changing. However, there are times when the potential for the...

Changes in Commodity Analytics’ short-term technical indicators for grain futures should be carefully examined against long-term signals. Elsewhere,...

Overnight trading was slow and mixed with little direction ahead of Thursday’s plantings report. The day session featured mixed trade that ended most...

Activity in the Chicago SRW wheat market spilled over into HRW and HRS wheat futures. Shifts in the soybean, soyoil, and soymeal futures indicate a changin...

Argentine Weekend Rainfall Disappoints The weekend rains predicted for the driest areas of Argentina largely did not occur. There were some in the far nort...

Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Egyptian officials say that the government plans to buy at least 4 MMT of local wheat in 2018, an incre...

High Leverage, Limited Results President Donald Trump’s strategy of using the imposition of tariffs to extract trade concessions is working but not i...

As has been noted, USDA will release its 2018 planting intentions estimates on 30 March at noon (EDT), which will be the first ones for the year that are b...

Markets were higher overnight in very good trading volume for a night session. U.S. equity markets were expected to recover some of Friday’s big loss...

Changes in energy products’ recent price behavior point to potential trading opportunities. Similarly, the momentum indicators in grains show opportu...

Soybeans Market Overview The South American markets keep rising as President Trump’s announcement last week that he would impose duties on Chinese st...

WPI provides a summary of the week’s futures price activity and the gains/losses experienced by grain, oilseed, and livestock markets. Additionally,...

USDA’s monthly Cattle on Feed (COF) report, released 23 March, showed the number of cattle in 1,000+ capacity feedlots at 11.7 million head as of 1 M...

Milling Wheat The Black Sea market was again little changed last week. Russia’s domestic prices as well as the ruble remained stable. Its new crop 12...

United States Cattle on Feed up 9 Percent on March 1, 2018. Placements in feedlots during February 2018 were 7 percent above 2017. Marketings of fed cattle...

Trade Wars and Surrender With this week’s retaliation announcements by China and the EU, the trade war has begun. Then again, all trade and trade pol...

The president signed the omnibus spending bill today after a brief veto threat over the lack of a legislative provision for the Deferred Action on Childhoo...

Overnight volume was big with markets down significantly on the heels of the U.S. equity markets’ collapse after commodity trading closed yesterday...

Today’s closing prices for corn, wheat, soybeans, cattle, and hog futures are shown along with USDA’s Export Sales results. Analysis of the lat...

Recent price activity for ag, energy, and soft commodities is examined in tabular and graphical format. The most important price analysis is distilled for...

Will the trade dispute with China become the “Black Swan” event for 2018 markets? Market chatter today would suggest it will, but as John Baize...

Soybean Supply and Demand Balance Shows Deficit While the government of India (GOI) has forecast the 2017/18 soybean crop at 11.39 MMT, the trade and indus...

U.S. corn exports deviation from historic patterns has implications for what exports will be in the rest of the marketing year. Analysis of unshipped corn...

More Europe First The European Parliament will vote on a report from its agriculture committee that proposes subsidizing protein crops. Emphasized in the r...

The weekly USDA/FASS export sales report has been delayed until tomorrow (Friday) morning because of the winter storm that forced the closure of government...

Did the increasing globalization of world economies and politics lead to expanding world trade, or did expanding world trade lead to increasing globalizati...

Ag, energy, and soft commodity futures’ technical patterns, including momentum and long-term indicators, are examined. Changes in the forward curve f...

EU Removes Antidumping Duties on Argentine and Indonesian Biodiesel Imports The EU has removed antidumping duties on biodiesel imports from Argentina and I...

Today’s closing prices for the first six listed futures contracts for major grain, oilseed, and livestock contracts are shown along with their change...

Wheat – particularly KC HRW futures – rose today on continued drought/heat for the Southern Plains states while corn and soybean futures were l...

WPI's monthly publication features analyses of the U.S. grain industry, U.S. soybean marketing strategies, the U.S. biofuels industry, the global outlook f...

Cattle on Feed  USDA will release its monthly Cattle on Feed report tomorrow. Pre-report estimates from the industry peg the total number of cattle on...

To no one’s surprise, the U.S. Federal Reserve’s Federal Open Market Committee (FOMC) raised its interest rate a quarter-percent to a still his...

Tough and Crazy The EU issued its 10 pages of proposed retaliation products in response to President Trump’s steel and aluminum tariffs, and now U.S...

Russian Grain Markets: 12-16 March, 2018 Domestic feed grain prices grew significantly, especially in the European part of Russia and particularly for corn...

Changes in Commodity Analytics’ short-term technical indicators for grain futures should be carefully examined against long-term signals. Elsewhere,...

CBOT row crop futures traded a quiet day with little news to elicit excitement ahead of the Prospective Plantings report. CME livestock futures, on the oth...

Activity in the Chicago SRW wheat market spilled over into HRW and HRS wheat futures. Shifts in the soybean, soyoil, and soymeal futures indicate a changin...

Oilseeds Soymeal Inventory Climbs Again as Pig Prices Fall Further China’s estimated nationwide soymeal inventory reached just under 800,000 MT as of...

China Differences A hog slaughter plant was rejected in the U.S. farm state of Nebraska for not-in-my-backyard (NIMBY) reasons, but scale production is vie...

Congress is completely consumed by the spending bill, which was to have been unveiled today. Indeed, it’s nearly halfway through FY 2018, and federal...

During overnight trading, grain and soy markets tried to recover from the beating they took on Monday but with very limited success. Prices were firmer, al...

U.S. wheat futures markets have been buffeted by a number of sometimes conflicting fundamental trends in the last nine months. Very low wheat prices in 201...

Changes in energy products’ recent price behavior point to potential trading opportunities. Similarly, the momentum indicators in grains show opportu...

Today’s closing prices for the first six listed futures contracts for major grain, oilseed, and livestock contracts are shown along with their change...

CBOT grain futures were largely beneficiaries of a dead cat bounce today – lead by soybean futures – while livestock futures continued their im...

Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Egypt is adjusting its ration card system, raising the value from $1.17/month to $2.78/month due to inc...

Weekend Rains Received in Some Areas of Argentina After months of essentially no rainfall, 1-2 inches (2.5–5 cm) were received in parts of Argentina...

WTO Makeover There is reasonable concern that the Trump administration is blocking the appointment of appellant judges at the WTO as part of a goal to impl...

WPI is not alone in pegging corn as the potential “sleeper” crop in MY 2018/19. World corn ending supplies have been edging lower in the past f...

Soybeans Argentina It was a quiet week in the soybean market. There are still players with long positions who are offering their final cargoes of what is a...

Recent price activity for ag, energy, and soft commodities is examined in tabular and graphical format. The most important price analysis is distilled for...

Markets started the Sunday evening session with across-the-board losses. KC wheat was the biggest loser, down more than a dime early. The rainfall map for...

Activity in the Chicago SRW wheat market spilled over into HRW and HRS wheat futures. Shifts in the soybean, soyoil, and soymeal futures indicate a changin...

Milling Wheat The Black Sea market was about unchanged last week. There were no significant moves in the Russian domestic market, and the ruble was slightl...

Trump’s Success M.O. Melissa Francis, co-host of After the Bell on Fox Business, wrote a piece in today’s Wall Street Journal chiding those who...

The vacancy on the White House National Economic Council (NEC), which resulted from Gary Cohn’s resignation after the president enacted steel and alu...

The markets have certainly been full of weather talk lately with outlooks for Argentina probably the first item every oilseed trader looks at each day. A v...

Markets were generally soft overnight. That pattern of weakness then held throughout today in corn and wheat markets, but the soy complex did not follow an...

Changes in Commodity Analytics’ short-term technical indicators for grain futures should be carefully examined against long-term signals. Elsewhere,...

WPI provides a summary of the week’s futures price activity and the gains/losses experienced by grain, oilseed, and livestock markets. Additionally,...

Corn Exports Unlikely Without More Signifcant Drop in Domestic Prices Domestic corn prices in the key rabi production center (Gulabbagh, Bihar) have contin...

  Repetition Doesn’t Make It Right Donald Trump is threatening more tariffs on imports from countries that he blames for conducting unfair pract...

Argentine Soy Crop Forecast Cut to 40 MMT The Rosario Grain Exchange today slashed its forecast for Argentina’s 2018 soybean crop from its February e...

Dairy Reforms Keep Coming The emergency appropriations bill that passed on 9 February included additional cash and some reforms to the dairy Margin Protect...

The overnight session saw grain and soy prices generally firmer in something of a recovery from Wednesday’s lingering weakness. Soybeans and MGEX spr...

Changes in energy products’ recent price behavior point to potential trading opportunities. Similarly, the momentum indicators in grains show opportu...

Today’s USDA/FAS export sales report for the week ending 8 March showed the expected trend of large sales for corn, soybeans and soy products but a v...

The grain markets “closed early” today as most trader’s attention turned to the start of NCAA’s March Madness basketball tournament...

Today’s closing prices for corn, wheat, soybeans, cattle, and hog futures are shown along with USDA’s export sales results. Analysis of the lat...

Commodity Analytics shows the most recent data for grain export sales and shipments along with historic patterns. Current deviations from historic norms po...

Russian Grain Markets: 5-9 March 2018 Domestic feed grain prices grew slightly in the European part of Russia, and milling wheat prices remained stable in...

Moral-Based Trade II The European Parliament (EP) has passed a resolution calling for the inclusion of gender equality goals in free trade agreements. As W...

A swirl of rumors about possible new trade actions against China from the Trump administration provided a backdrop for today’s grain and soy futures...

Recent price activity for ag, energy, and soft commodities is examined in tabular and graphical format. The most important price analysis is distilled for...

Activity in the Chicago SRW wheat market spilled over into HRW and HRS wheat futures. Shifts in the soybean, soyoil, and soymeal futures indicate a changin...

Grains and oilseeds were mostly lower today and the livestock complex’s early leap higher melted down at midday. The weather in Argentina is less thr...

Oilseeds Soymeal Inventories Down Sharply at End of February A significant increase in feed demand at the end of February pushed China’s estimated na...

Resistance versus Capitulation Reaction to the Trump administration’s proposed steel and aluminum tariffs is diverse. The EU says it should be exempt...

Overnight price action saw grain and soy prices continue the firmer trend set by the rebound from earlier losses late in Monday’s day session that wa...

Glitch Fix The Section 199A tax deduction preference for co-ops, which USDA Secretary Perdue called a “glitch,” seems to be moving toward a res...

India Importing Record Volume of Soybeans High domestic soybean prices in India coupled with a smaller domestic crop in 2017 is causing processors in that...

Ag, energy, and soft commodity futures’ technical patterns, including momentum and long-term indicators, are examined. Changes in the forward curve f...

Today’s closing prices for the first six listed futures contracts for major grain, oilseed, and livestock contracts are shown along with their change...

Grain futures were mostly higher, especially in early trading, as technical conditions and weather issues around the world provided support. Cattle prices...

Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS According to the latest information on its new trade agreement with Russia and Kazakhstan, Iran has agr...

The surprise in the March WASDE was USDA’s aggressive increase in estimated demand for U.S. corn during the second half of the 2017/18 crop year, rai...

The White House was to hold a meeting today, chaired by Vice President Pence, to discuss more options on price relief for Renewable Identification Numbers...

Soybeans Brazil The South American soybean market was very active again last week. Despite rising CBOT futures and basis levels, demand from China remained...

Markets were soft in the Sunday evening session. There was light rainfall across 20-25 percent of Argentina with another chance for showers later this week...

Changes in Commodity Analytics’ short-term technical indicators for grain futures should be carefully examined against long-term signals. Elsewhere,...

Activity in the Chicago SRW wheat market spilled over into HRW and HRS wheat futures. Shifts in the soybean, soyoil, and soymeal futures indicate a changin...

Considering all the recent chatter about free trade, fair trade, NAFTA, steel and aluminum quotas, etc., a farmer from eastern Montana has pointed out that...

Milling Wheat The Black Sea market remains supported in the absence of farmers’ selling pressure. The domestic market in Russia was about unchanged l...

Goofy Retaliation List The Trump administration’s Section 232 action is as awkward and off target as its namesake. So too is the retaliation list rep...

Following is an end-of-the-week roundup on some percolating policy matters: Steel Tariffs: President Trump signed the steel and aluminum tariff order yeste...

Markets were weak overnight and turned much more so today with soybeans and wheat leading the charge lower. Among the numerous bearish factors affecting ma...

WPI provides a summary of the week’s futures price activity and the gains/losses experienced by grain, oilseed, and livestock markets. Additionally,...

Ag, energy, and soft commodity futures’ technical patterns, including momentum and long-term indicators, are examined. Changes in the forward curve f...

Record Sugar Production Expected Based on the projected increase in sugarcane production (see Ag Perspectives, 2 March), a higher crush as well as good rec...

The U.S. hard red winter wheat crop is on the verge of a total collapse for several reasons, including: As much as 40 percent of the entire HRW region of...

President Trump signed a proclamation this afternoon establishing tariffs on imported steel and aluminum over the objection of many Republicans in Congress...

North American Livestock The semi-annual estimate of combined U.S. and Canadian swine and cattle herds was released yesterday. As of 1 January, all cattle...

Much like February WASDEs, the March editions are typically viewed as nonevents in terms of market significance since they are essentially released between...

232 Obfuscation With most steel and aluminum imports coming from strategic geopolitical partners, the Trump administration’s use of the Section 232 n...

Recent price activity for ag, energy, and soft commodities is examined in tabular and graphical format. The most important price analysis is distilled for...

Large US. Soy Export Sales Last Week USDA’s weekly export sales report of today surprisingly showed a major increase in the volume of U.S. soybeans s...

Today’s closing prices for corn, wheat, soybeans, cattle, and hog futures are shown along with USDA’s Export Sales results. Analysis of the lat...

The much-anticipated March WASDE featured mostly bullish news for grains and oilseed traders. Notably, the USDA reduced South American soybean and corn sup...

U.S. corn export show strength. Commodity Analytics shows the most recent data for grain export sales and shipments along with historic patterns. Current d...

Soybean meal prices are projected at $325 to $355 per short ton, up $20.00 at the midpoint.  Higher soybean meal prices reflect the impact of sharply...

With increased crush, soybean oil production is raised.  An increase in food use is more than offset by lower biodiesel use, leaving domestic disappea...

U.S. soybean supply and use changes for 2017/18 include higher crush, lower exports, and increased ending stocks compared with last month’s report. S...

Major global trade changes for 2017/18 this month include higher projected corn exports for the United States more than offsetting a reduction for Argentin...

U.S. wheat exports for 2017/18 are reduced 25 million bushels to 925 million, while ending stocks are raised by the same amount.  Exports are lowered...

Grain and soy futures markets traded lower overnight and mostly lower again during the day session, reflecting the growing uncertainties facing traders. Th...

Steel Threats President Donald Trump is set to announce his decision tomorrow on Section 232 duties to be applied to imported steel and aluminum products...

Russian Grain Markets: 26 February-2 March 2018 Domestic grain prices remained stable in all regions except for the decreases in western Siberia. Milling w...

Changes in Commodity Analytics’ short-term technical indicators for grain futures should be carefully examined against long-term signals. Elsewhere,...

Today’s closing prices for the first six listed futures contracts for major grain, oilseed, and livestock contracts are shown along with their change...

Ag commodities trading was quiet today as the markets wait for USDA’s WASDE report tomorrow. Most CBOT products traded both sides of unchanged before...

Oilseeds Soymeal Inventory Declines from Week Before China’s estimated nationwide soymeal inventory totaled 938,800 MT as of 23 February, a slight in...

The overnight session was a low volume affair with corn and the soy complex doing very little in either direction. Meanwhile, winter wheat markets gave bac...

Why Trump Wants Trade War The U.S. media is emphasizing the impending harm from steel and aluminum tariffs to be imposed by President Donald Trump. These i...

Changes in energy products’ recent price behavior point to potential trading opportunities. Similarly, the momentum indicators in grains show opportu...

The Senate Agriculture Committee has had some unusual turnover this year, and more is coming. Following is a timeline of the changes. Senator Jeff Sessions...

No Relief for Argentine Crops Some meteorologists indicate this year’s summer growing season is turning out to be the driest in Argentine history. Th...

Activity in the Chicago SRW wheat market spilled over into HRW and HRS wheat futures. Shifts in the soybean, soyoil, and soymeal futures indicate a changin...

The rally in ag commodities faltered somewhat today as lower cash soymeal prices and a warming trend in the Black Sea pressured the soy complex and wheat m...

Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS The growth in Turkey’s animal feed industry is very interesting, rising approximately 8 percent p...

The southern Plains drought has essentially been in place since late last fall. It intensified over the winter, spreading mainly south and west but also ea...

Soybeans Last week was very volatile. Basis in Brazil had been rising slowly in the past few months. Demand was gradually increasing bids, although this wa...

Changes in energy products’ recent price behavior point to potential trading opportunities. Similarly, the momentum indicators in grains show opportu...

Beneficial Elimination Greenpeace wants the rewrite of the EU’s Common Agricultural Policy (CAP) to withdraw support for animal agriculture and inste...

The February rally came at a very good time for U.S. farmers as that is the month the initial (and minimum) price guarantees are established for the federa...

Markets were largely neutral overnight. Ongoing dry weather in Argentina and the southern U.S. Plains (hard red winter wheat) was offset by fears of just w...

WPI provides a summary of the week’s futures price activity and the gains/losses experienced by grain, oilseed, and livestock markets. Additionally,...

The “glitch” in the new Section 199A tax deduction provision that incentivizes sales of commodities to cooperatives and leaves a landowner far...

During the 2016 presidential campaign, we noted that one key of the Trump Trade Doctrine was that trade policy must “strengthen the U.S. manufacturin...

Recent price activity for ag, energy, and soft commodities is examined in tabular and graphical format. The most important price analysis is distilled for...

The soybean and soymeal markets have been on a rather spectacular roll over the last 30 days as the rains never came to Argentina. That has recent estimate...

Soybeans finished the night session strong with 8-9 cent gains, while wheat was mixed and corn a penny higher. Volume of trade was very big. Markets opened...

Activity in the Chicago SRW wheat market spilled over into HRW and HRS wheat futures. Shifts in the soybean, soyoil, and soymeal futures indicate a changin...

Contrary to President Trump’s latest boast, trade wars are not good and not easy to win. U.S. agriculture now feels threatened by the effort to prote...

Second Advance Production Estimates Project Record Food Grain Production The government of India (GOI) released the Second Advanced Estimates for Agricultu...

Two-Year RIN Cap and DDGS  President Trump today voiced his support for a two-year cap on the price of Renewable Identification Numbers (RINs) during...

Overnight trading in grains and the soy complex featured erratic up-and-down price movement, although the price range was limited amid moderate volume. Soy...

Overwrought Iron President Trump announced today that he would be imposing protective duties on imports of steel (25 percent) and aluminum (10 percent). Th...

Forecast for Argentine Soybean Crop Reduced Again The Buenos Aires Grain Exchange today lowered its forecast for the Argentine 2018 soybean crop from 47 MM...

Ag, energy, and soft commodity futures’ technical patterns, including momentum and long-term indicators, are examined. Changes in the forward curve f...

In the 1840s, the ad hoc trading of physical lots of wheat, corn, rye, oats and hay on a street corner in Chicago eventually became transaction-based on st...

Today’s closing prices for corn, wheat, soybeans, cattle, and hog futures are shown along with USDA’s Export Sales results. Analysis of the lat...

Commodity Analytics shows the most recent data for grain export sales and shipments along with historic patterns. Current deviations from historic norms po...

Green was the color of the day for grain and soy markets. Prices wavered a bit at the opening of overnight trading, but they soon began to push higher. Som...

Commodities’ Day in the Sun Pulling agricultural commodity prices out of the basement requires either a larger boost in demand or a shortfall in supp...

Russian Grain Markets: 19-23 February 2018 Domestic grain prices continued to rise due to growing export prices in all regions except Siberia where they re...

Changes in Commodity Analytics’ short-term technical indicators for grain futures should be carefully examined against long-term signals. Elsewhere,...

Activity in the Chicago SRW wheat market spilled over into HRW and HRS wheat futures. Shifts in the soybean, soyoil, and soymeal futures indicate a changin...

Macro Trends China’s Ag Imports Climb Nearly 13 Percent in 2017 With the conclusion of China’s Lunar New Year celebrations, its Ministry of Com...

WPI's monthly publication features analyses of farm inputs and equipment, the U.S. grain industry, the global soybean outlook, U.S. meat and livestock indu...

States versus Canada At least two U.S. states (Wyoming and Oklahoma) are considering their own country-of-origin labeling requirement on beef. Colorado ear...

Tomorrow (28 February) is the first day for delivery intentions against March futures contracts. As of the close yesterday, more than 105,000 contracts of...

The noted economist John Kenneth Galbraith famously observed that “the only function of economic forecasting is to make astrology look respectable,&r...

Recent price activity for ag, energy, and soft commodities is examined in tabular and graphical format. The most important price analysis is distilled for...

This is the day of a big White House meeting on reforming the Renewable Fuel Standard (RFS). News of it being scheduled, which broke late last week, was en...

Argentine Soybean Crop Forecast Drops In its 23 February issue, Oil World reduced its forecast for Argentina’s 2018 soybean crop to 43 MMT or less. H...

Note: The Closing Bell Wrap-Up will be on vacation Wednesday and Thursday this week, but will return next week.  Poor crop condition ratings in Kansas...

Today’s closing prices for the first six listed futures contracts for major grain, oilseed, and livestock contracts are shown along with their change...

Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Egypt has announced that the local wheat purchase price will be released in March, approximately one mo...

Rejet de la Modernité French President Emmanuel Macron is preparing his nation’s farmers for change, but it isn’t clear that his plan is...

Recent price activity for ag, energy, and soft commodities is examined in tabular and graphical format. The most important price analysis is distilled for...

Activity in the Chicago SRW wheat market spilled over into HRW and HRS wheat futures. Shifts in the soybean, soyoil, and soymeal futures indicate a changin...

Soybeans Argentina  Argentina received poor rains the past week and crop estimates keep dropping. The latest forecast fell another 3 MMT to 46.5, maki...

General Comments  Wheat, corn and soybean markets were higher overnight with good trading volume. Wheat and soybeans were the leaders and that fact co...

Milling Wheat The Black Sea market remains well supported due to increasing demand from the major destinations in North Africa, the Middle East and Asia. T...

WPI has written several times about the unintended consequences of Section 199A in the recently passed U.S. tax reform bill, including Dave Juday’s a...

USDA released its monthly Cattle on Feed (COF) report Friday, which showed the total number of cattle in feedlots with a capacity of more than 1,000 as of...

China Won’t Eat American  Senior USDA agricultural attaché Michael Ward lamented Chinese barriers to U.S. food exports at today’s a...

Perhaps it was inevitable given the partisan nature of the tax reform debate and passage, but now the debate surrounding the biggest ag-related issue in th...

Ag, energy, and soft commodity futures’ technical patterns, including momentum and long-term indicators, are examined. Changes in the forward curve f...

Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 11.6 million head on&...

USDA released an initial glimpse at of its MY 2018/19 U.S. supply and demand estimates early this morning, which were fail-safe across the board. They caus...

Markets were slightly higher overnight in relatively light trading volume. Corn was a penny higher, and soybeans were up 3-4 cents as were KC and Chicago w...

WPI provides a summary of the week’s futures price activity and the gains/losses experienced by grain, oilseed, and livestock markets. USDA’s e...

Soymeal Prices Up, but DDGS Not Available as Alternative The Soybean Oil Processors Association (SOPA) has again trimmed its estimate for India’s 201...

U.S. corn exports deviation from historic patterns has implications for what exports will be in the rest of the marketing year. Analysis of unshipped corn...

Cynical Thoughts French NGO Générations Future has copied a page from American NGO Environmental Working Group (EWG) and erroneously declared...

Overnight trade in grain and soy complex futures had low volume and was quiet without much price movement. Soybeans were a couple of cents lower, but corn...

USDA’s Cattle on Feed report will be released tomorrow. Pre-report estimates from the industry peg the total number of cattle on feed to be 108.5 per...

Rosario Exchange Sharply Reduces Argentine Soybean Estimate Yesterday the Rosario Grain Exchange reduced its estimate of the Argentine soybean crop from 52...

Today’s closing prices for the first six listed futures contracts for major grain, oilseed, and livestock contracts are shown along with their change...

Ag, energy, and soft commodity futures’ technical patterns, including momentum and long-term indicators, are examined. Changes in the forward curve f...

Each year USDA/NASS conducts a Farms and Land in Farms survey regarding economic demographics. The results are usually released in time for USDA’s an...

Brexit Strangle UK Secretary of State for Environment, Food and Rural Affairs Michael Gove told the National Farmers Union that environmental and animal we...

Yesterday’s grain and soy futures markets sold off well below the highs reached earlier in the session and closed unenthusiastically with a weak tone...

Russian Grain Markets: 12-16 February 2018 Domestic grain prices continued to rise due to growing export prices, although strengthening of the ruble somewh...

Changes in energy products’ recent price behavior point to potential trading opportunities. Similarly, the momentum indicators in grains show opportu...

Today’s closing prices for the first six listed futures contracts for major grain, oilseed, and livestock contracts are shown along with their change...

Cultural 2018 Lunar New Year Ushers in the Year the Dog 16 February 2018 was the first day of the Chinese New Year, which also represents the commencement...

Cattle futures closed sharply lower today on falling demand while the wheat markets continued to give back recent gains as well. Corn was slightly higher w...

Over the long weekend, rainfall in Argentina was limited to portions of Buenos Aires as the rest of the main crop areas remaining dry. That plus a forecast...

USDA released its baseline projections for 2018-2027 last week on the same day that the U.S. Energy Information Administration (EIA) issued its Annual Ener...

It may be that we spend too much time discussing the current soy complex. After all, there are currently some market-interesting developments in corn and w...

Ag, energy, and soft commodity futures’ technical patterns, including momentum and long-term indicators, are examined. Changes in the forward curve f...

Forecasts for Brazil’s Soybean Crop Keep Increasing If the analysts in Brazil are correct, the soybean crop there will be huge this year. Yesterday S...

Activity in the Chicago SRW wheat market spilled over into HRW and HRS wheat futures. Shifts in the soybean, soyoil, and soymeal futures indicate a changin...

It wasn’t exactly “turnaround Tuesday” since the markets were closed yesterday, but it sure felt like it was. Wheat futures fell hard on...

Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Turkey’s total grain purchases from Russia are reported to have increased from 1.66 MMT in 2016/1...

Steel Steals from Farmers If the Trump White House accepts the advice of the Section 232 investigation by the Ross Commerce Department and raises tariffs o...

Soybeans Brazil After very strong movement two weeks ago, last week was very quiet in general. The previously discussed Carnival holiday (see Ag Perspectiv...

Milling Wheat The Black Sea market is firm as it gained about $4 in one week. Domestic prices in Russia are steady to slightly higher, and the ruble was hi...

Undermining 232 Rationale The U.S. Commerce Department announced the results of its Section 232 investigation into imports of aluminum and steel. It was fo...

WPI provides a summary of the week’s futures price activity and the gains/losses experienced by grain, oilseed, and livestock markets. Additionally,...

A little “water cooler” office conversation (albeit conducted electronically) at WPI this week centered on handicapping the North Dakota Senate...

Ag, energy, and soft commodity futures’ technical patterns, including momentum and long-term indicators, are examined. Changes in the forward curve f...

Note that U.S. markets will be closed Monday for the Presidents Day holiday. A three-day weekend in the middle of a weather market tends to make traders a...

Sugar Prices Firm; Export Duty Could Be Removed Sugar prices continue to firm following the imposition of an export duty and stock limits on sugar mills. A...

The annual USDA Agricultural Outlook Forum will take place next week (22-23 February) in Washington, DC. USDA will issue preliminary unofficial estimates o...

Origin Labeling Loser The U.S. beef industry feels embattled. After years of contending with health risk warnings about its product, marketers of plant pro...

Grain and soy markets traded rather quietly overnight with prices holding mostly steady to mildly firmer. However, prices for soybeans and wheat began to t...

USDA made several changes a week ago to its supply/demand estimates for the U.S. and the world that were unusual for a February WASDE. With South American...

Changes in Commodity Analytics’ short-term technical indicators for grain futures should be carefully examined against long-term signals. Elsewhere,...

Little Rain in Dry Argentine Areas until March Two weather forecasters in Argentina have told Reuters that they do not expect any break in the drought impa...

If this was NPR’s Marketplace, we’d be playing the happy music right now. CBOT grains and oilseeds, along with most CME livestock futures, clos...

Today’s closing prices for corn, wheat, soybeans, cattle, and hog futures are shown along with USDA’s Export Sales results. Analysis of the lat...

Aussie Beef Back on the Global Market Australia’s beef exports are making a comeback, up 19.7 percent last month over January 2017, and they could be...

This week’s Export Sales report from USDA offers insight into the grain market’s likely price pattern going forward. Based on historic export p...

Changes in energy products’ recent price behavior point to potential trading opportunities. Similarly, the momentum indicators in grains show opportu...

The overnight session found prices trading mostly lower, which was in line with selling late Tuesday that took prices down to closes that were mostly well...

TPP Necessity: Loss Aversion President Donald Trump has called the Trans-Pacific Partnership (TPP) a “disaster” and a “rape” of our...

Russian Grain Markets: 5-9 February 2018 A moderate upward trend continued in the domestic grain market (in RUB expression) due to growing export prices an...

Activity in the Chicago SRW wheat market spilled over into HRW and HRS wheat futures. Shifts in the soybean, soyoil, and soymeal futures indicate a changin...

It was a mixed day at the CBOT with wheat lower, corn higher, and the entire soy complex (yes, including soyoil) higher. Trading, however, lacked the vigor...

Oilseeds Soymeal Inventory Reverses Course and Falls Below 1 MMT Pre-Lunar New Year holiday demand pushed wholesale soymeal prices slightly higher as of 2...

Yesterday soybean contracts experienced a momentary setback because of China's cancellation of U.S. soybeans and a weak export inspection number. Traders w...

Historical Inequality This week President Trump resurrected his contention that a “reciprocal tax” should be imposed that equalizes the tariffs...

Argentine Rains Disappoint The rains that fell last Friday and Saturday in Argentina were far too little and not widespread enough to help the soybean crop...

Trading during the overnight session turned much quieter in terms of price action and volume versus Sunday night and Monday. Prices traded both sides of ye...

In August 2017, the 10th U.S. Circuit Court of Appeals in Denver ruled that the EPA was too strict in granting exemptions for small refineries under the Re...

Recent price activity for ag, energy, and soft commodities is examined in tabular and graphical format. The most important price analysis is distilled for...

Today’s closing prices for the first six listed futures contracts for major grain, oilseed, and livestock contracts are shown along with their change...

Soybeans were the highlight of the CBOT/CME sessions today, leading the way higher amid a sea of otherwise red prices. Corn and wheat futures were lower on...

Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Pakistan’s wheat sales are said to have reached about 750,000 MT at FOB prices of $190-195 /MT in...

Argentina’s La Nina-related drought has increasingly grabbed market headlines since late December. The rains that had been predicted for that country...

Rural Infrastructure President Trump’s newly announced infrastructure plan gives some priority to rural areas by making them an early beneficiary of...

President Donald Trump has been labeled – by friends and foes alike – as a marketing and branding wizard. He hasn’t lost that touch movin...

Ag, energy, and soft commodity futures’ technical patterns, including momentum and long-term indicators, are examined. Changes in the forward curve f...

The markets started with good gains in the Sunday evening session, led by double-digit increases in soybeans on the heels of a sharp rally in soymeal futur...

Activity in the Chicago SRW wheat market spilled over into HRW and HRS wheat futures. Shifts in the soybean, soyoil, and soymeal futures indicate a changin...

One of the late changes to the recently passed U.S. tax reform bill created some significant, unintended consequences that gave farmers a huge tax break an...

Macroeconomics On 9 February, a portion of the grain truck drivers’ union called for a strike across Argentina that is also preventing those who are...

Milling Wheat The Black Sea market is slightly firmer. The Russian 12.5 pro is offered at $200/MT FOB, which is about $2/MT higher than last Monday despite...

After a brief midnight shutdown, Congress approved yet another modified stopgap budget package in the early hours of this morning. This is the fifth contin...

Trump Triangulates As one U.S. trade policy official described the situation, it is Alice in Wonderland, where up is down and small is big – a real f...

Changes in Commodity Analytics’ short-term technical indicators for grain futures should be carefully examined against long-term signals. Elsewhere,...

WPI provides a summary of the week’s futures price activity and the gains/losses experienced by grain, oilseed, and livestock markets. Additionally,...

The general chaos that has plagued the U.S. financial markets this week is having a negative spillover impact on more markets. Crude oil dropped more than...

Higher Duties on Sugar and Chickpea Imports Have Immediate Effect To keep a check on prices, the government of India (GOI) has raised the duty on sugar fro...

The general attitude of the markets is that the world is “awash” in everything. It’s tough to argue that statement if looking at the abso...

As the markets waited for USDA’s February WASDE at noon (EST) today, overnight trading volume declined rather sharply from its heavy level earlier th...

The February WASDE typically generates few surprises. In that sense, today’s report stands out as containing some changes that exceeded expectations...

Ag, energy, and soft commodity futures’ technical patterns, including momentum and long-term indicators, are examined. Changes in the forward curve f...

USDA Cuts Forecast for U.S. Soybean Exports Again and Revises Other Estimates Today USDA unsurprisingly further reduced its forecast for U.S. soybean expor...

Today’s closing prices for corn, wheat, soybeans, cattle, and hog futures are shown along with USDA’s Export Sales results. Analysis of the lat...

USDA surprised the markets today with significant changes to its U.S. commodity balance sheets. After the initial surprise, however, market settled down an...

Soybean oil prices are forecast at 31 to 34 cents per pound, down 1 cent at the midpoint.  Global oilseed crush for 2017/18 is projected at 487.5...

 Soybean meal prices are projected at $305 to $335 per short ton, up $5 at the midpoint.  Global oilseed production for 2017/18 is projected...

Scale Needed in Africa The Overseas Development Institute (ODI), a research group funded by governments, international organizations and development groups...

2017/18 U.S. soybean outlook is for reduced exports and increased ending stocks. Soybean exports for 2017/18 are projected at 2,100 million bushels, down 6...

Global corn production is lowered 2.8 million tons largely reflecting reductions for Argentina and Ukraine. For Argentina, persistent heat and dryness...

Projected 2017/18 U.S. ending stocks are raised this month by 20 million bushels as higher food use is more than offset by lower exports, while export fore...

This week’s Export Sales report from USDA offers insight into the grain market’s likely price pattern going forward. Based on historic export p...

Congress has come up with a spending package to avoid a government shutdown. If passed, the spending blueprint would fund the government for two years, tak...

Addressing China’s Mercantilism U.S. sorghum prices plummeted 25 percent on word that China has used imports of this commodity from the U.S. as a ret...

Grain and soy futures opened the overnight session mostly stronger on follow-up momentum and the bullish technical signals generated by Tuesday’s pri...

Changes in energy products’ recent price behavior point to potential trading opportunities. Similarly, the momentum indicators in grains show opportu...

Russian Grain Markets: 29 January-2 February 2018 There was an upward trend in prices for all grains as a saturated domestic market continued reacting to t...

Activity in the Chicago SRW wheat market spilled over into HRW and HRS wheat futures. Shifts in the soybean, soyoil, and soymeal futures indicate a changin...

Wheat led the way higher in today’s trading with corn rising slightly and soybeans falling in choppy trading. The stage for today’s wheat rally...

Oilseeds Soymeal Inventory Rises Above 1 MMT China’s nationwide estimated soybean inventory surpassed 1 MMT for the first time since the end of last...

Farm Bill Moolah The farm bill is ready to begin moving in a few short weeks with the only holdup being the lack of money desired by congressional farm lea...

The overnight trading session for grains and the soy complex opened with the backdrop of the biggest single-day decline of the Dow ever. It was not the big...

There are many subjects, big and small, of interest to agricultural markets and worthy of discussion as we head deeper into February, although grain and so...

Recent price activity for ag, energy, and soft commodities is examined in tabular and graphical format. The most important price analysis is distilled for...

The stock market fell nearly 1,200 points yesterday, the Dow’s largest decline in a single day and the biggest drop since 2011, a very volatile year...

Today’s closing prices for the first six listed futures contracts for major grain, oilseed, and livestock contracts are shown along with their change...

Today was Turnaround Tuesday after commodity and equity markets closed deeply in the red yesterday. CBOT products found support in the overnight session an...

Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Egypt has revised its terms for government wheat purchases after suppliers were refusing to participate...

Critical Week for Argentine Soybeans Weather forecasters are predicting substantial rains across Argentina’s driest areas on Friday and Saturday of t...

TPP Reality? Aggies are trying to decipher the degree of seriousness behind President Trump’s announcement in Davos that he would reconsider joining...

While still February, it’s very dry with the drought worsening across much of the U.S. as well as southern Manitoba and Saskatchewan (see the drought...

Soybeans Brazil Brazil’s soybean market was stable last week with some movement in February and March shipments, which is where Chinese demand is sho...

Ag, energy, and soft commodity futures’ technical patterns, including momentum and long-term indicators, are examined. Changes in the forward curve f...

According to the U.S. Energy Information Administration (EIA), biodiesel production totaled 148 million gallons in November 2017, the same amount as in Oct...

Wheat, corn and soybean markets opened lower overnight, and they traded that way throughout the day session. A number of factors contributed to this trend...

Activity in the Chicago SRW wheat market spilled over into those for HRW and HRS wheat futures. Shifts in the soybean, soyoil, and soymeal futures indicate...

Milling Wheat The Black Sea market has gained about $2.00. The FOB prices followed the rally of the U.S. and EU futures’ markets early in the week bu...

Trump Globalism U.S. President Donald Trump is repeatedly called a nationalist and a protectionist. Robert Manning at the Brent Scowcroft Center claims tha...

The corn, soybean and wheat markets were lower overnight with the latter two suffering the greatest losses in moderate volume. That pattern of weakness did...

WPI provides a summary of the week’s futures price activity and the gains/losses experienced by grain, oilseed, and livestock markets. Additionally,...

Changes in energy products’ recent price behavior point to potential trading opportunities. Similarly, the momentum indicators in grains show opportu...

USTR’s Chief Ag Negotiator Nominee Moving toward Confirmation Yesterday Senator Jeff Flake (R-Arizona) announced that he had released his hold on the...

High Duty Reduces Edible Oil Imports Edible oil imports dropped in December 2017 following an increase in the duty the previous month, falling approximatel...

February is important for U.S. farmers as it is the month that the initial prices for the federal crop revenue insurance programs are calculated. These als...

Yesterday’s corrective price action extended into the overnight session with soybeans leading the way, being down 7-8 cents. Wheat futures prices wer...

Dollar Strength U.S. Treasury Secretary Steve Mnuchin stirred the currency market last week by initially saying at Davos that a weaker U.S. dollar would be...

Simplistic economics suggest that the value of any freely-traded commodity is ultimately determined by the balance between its supplies and demand. That is...

Changes in Commodity Analytics’ short-term technical indicators for grain futures should be carefully examined against long-term signals. Elsewhere,...

USDA released its semi-annual cattle inventory report yesterday. It showed the U.S. herd on 1 January 2018 was the largest in nine years at 94.4 million he...

Today’s closing prices for corn, wheat, soybeans, cattle, and hog futures are shown along with USDA’s Export Sales results. Analysis of the lat...

Volatility returned to the markets today. After a benign overnight session, corn, soybeans, and wheat all headed lower on bearish export sales numbers. The...

U.S. corn exports deviation from historic patterns has implications for what exports will be in the rest of the marketing year. Analysis of unshipped corn...

Russian Grain Markets: 22-26 January 2018 There were no significant changes in domestic market trends. Prices for wheat (all grades) and feed barley contin...

SOTU Redux President Trump used last night’s State of the Union address to reiterate his goal of fixing “decades of unfair trade deals,”...

Janet Yellen’s final meeting as Fed chair ended today with the Federal Open Market Committee (FOMC) deciding to leave the interest rate unchanged, wh...

Changes in energy products’ recent price behavior point to potential trading opportunities. Similarly, the momentum indicators in grains show opportu...

Activity in the Chicago SRW wheat market spilled over into HRW and HRS wheat futures. Shifts in the soybean, soyoil, and soymeal futures indicate a changin...

Grain futures corrected lower during the overnight session after a steady/mixed start. Farmer selling was active yesterday which reduced some buyer enthusi...

  Policy  China’s Central Government Announces 2018 Farm Subsidies Last week China’s central government published its 2018 farm and a...

Active overnight trading saw wheat and corn prices move higher as soybeans hung around on either side of Monday’s closes. Although corn was the volum...

SOTU Tonight Speculation about the content in an upcoming presidential State of the Union (SOTU) address is usually just that – much speculation, but...

The ability to export crude oil, which was granted to U.S. producers in December 2015, is still a game changer in the energy markets. Global crude oil aver...

Recent price activity for ag, energy, and soft commodities is examined in tabular and graphical format. The most important price analysis is distilled for...

Today’s closing prices for the first six listed futures contracts for major grain, oilseed, and livestock contracts are shown along with their change...

Fund short-covering, worse-than-expected U.S. wheat conditions, and a hot, dry weather forecast for Argentina sent grains and oilseed futures sharply highe...

Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS News reports concerning a possible ADM/Bunge merger have raised questions about the future of G3 Canada...

Noncommercial managed funds have held a large short position in wheat futures, mainly Chicago (SRW), in what seems like forever. The fund long position in...

USDA released its monthly Cattle on Feed (COF) report this past Friday. The on-feed inventory as of 1 January was 11.58 million head or 108 percent of last...

Meat Tipping Point Activist groups in Europe are rallying against meat imports from Mercosur just as Brussels tries to complete a trade agreement with part...

Soybeans Brazil The Brazilian soybean crop keeps rising or at least consolidating production. Trading houses are estimating a baseline of 112 MMT with upsi...

Ag, energy, and soft commodity futures’ technical patterns, including momentum and long-term indicators, are examined. Changes in the forward curve f...

Wheat and soybean markets were strong overnight on very good volume. Weather in Argentina has become the market’s focus, and there were some scattere...

Activity in the Chicago SRW wheat market spilled over into HRW and HRS wheat futures. Shifts in the soybean, soyoil, and soymeal futures indicate a changin...

Adverse weather conditions in Argentina and parts of Brazil are starting to slowly change the dynamics of the corn market (or at least the world numbers)...

Milling Wheat The Black Sea market is firmer because of the stronger Russian ruble, which has rallied more than 3 percent versus the USD in one month. Whil...