What You Need to Know Today: U.S. and Chinese officials are expected to discuss agriculture and non-tariff trade barriers ahead of Chinese President Xi Ji...
Articles
U.S. Labor Day Holiday
The U.S. will observe Labor Day on Monday, 7 September. U.S. markets and the WPI office will be closed that day. The next edition of Ag Perspectives will b...
Beef Trim Prices Set to Fall Even Without Added Imports
Key Takeaways: Drought and changes to the multi-year trend in cow slaughter and retention have the potential to dramatically alter beef trim supplie...
Glyphoscience and Glyphoeconomics
It is hard to have a productive conversation about agricultural pesticide use. The subject carries so much ideological baggage that raising it can invite a...
Triangulating China, U.S. and Brazil’s Chicken Exports
Brazil’s broiler exports are up 29.9 percent by volume in July and up 43.3 percent in value, and for the January through July period, exports rose 15...
Transportation Perspectives - 3 September
Key Takeaways: Dry bulk markets are mixed this week with larger vessel classes seeing strong demand from iron ore and coal while Supramax and Handysize ra...
CFTC COT Report Analysis
The bull market in ag commodities continued through Tuesday’s data reporting deadline with drought, yield, and Black Sea export concerns driving anot...
Summary of Futures
Dec 26 Corn closed at $5.4075/bushel, down $0.0275 from yesterday's close. Dec 26 Wheat closed at $7.5425/bushel, down $0.1975 from yesterday's close...
Market Commentary: “Chances” for Peace and Disinflation; Cattle Market Meddling
What You Need to Know Today: Wheat futures pulled back sharply after Russian President Putin said there was a “chance” for peace and an agreem...
Livestock Round Up: Keeping Up With the Beef Market Policies
President Trump has opened the door to 100,000 MT of beef lean trimmings (limited to HTS codes 0201.30.5091, 0201.30.5097, 0202.30.5091, and 0202.30.5097)...
New Louisiana Plant to Boost U.S. Phosphate Fertilizer Production
Key Takeaways: CHS and OCP plan to invest up to $450 million in a Louisiana phosphate fertilizer facility capable of producing more than 1 MMT annually, m...
Understanding Wool Marketing: How U.S. Prices Move With Australia Using the Last Five Years of Data
A Small Industry Tied to a Global Benchmark The U.S. wool industry is small by global standards but heavily export-dependent, with roughly 60 percent of U...
Summary of Futures
Dec 26 Corn closed at $5.435/bushel, down $0.025 from yesterday's close. Dec 26 Wheat closed at $7.74/bushel, down $0.085 from yesterday's close.&nbs...
Market Commentary: The Calendar Is Not in Control
Energy: Risk Over Rules Fighting between the United States and Iran over control of the Strait of Hormuz escalated overnight. Tehran accused U.S. forces of...
Failing to Learn from History, Ghana Locks Down Cocoa Acres
Key Takeaways: Ghana’s new law classifies all cocoa plantations as “protected farms,” which carries significant implications for f...
Paraguay’s Unique Place in the Global Soybean Trade
Key Takeaways: Paraguay typically ranks among the world’s largest soybean exporters, with roughly two-thirds of its production destined for export m...
Black Sea Regional Analysis
Russian Grain Markets: 24–28 August 2026 During the fourth week of August, the Russian grain market continued to slide, although the pace of the decl...
Summary of Futures
Dec 26 Corn closed at $5.46/bushel, up $0.0825 from yesterday's close. Dec 26 Wheat closed at $7.825/bushel, up $0.085 from yesterday's close. ...
Market Commentary: Contract Highs to Start September; Demand Destruction is the Point
What You Need to Know Today: The EPA offered an extension for 2025 RSF compliance reporting from 1 September 2026 to 1 October 2026 and announced decision...
EPA Announces 2025 SREs under the RFS: 1.76 Billion RINs
On Monday, 31 August, the U.S. Environmental Protection Agency (EPA) announced decisions for 34 small refinery exemption (SRE) petitions under the Renewabl...
EPA Grants 29 SREs, but Reallocation is the Story
Key Takeaways: EPA granted full or partial Small Refinery Exemptions to 29 of the 34 petitions under consideration, removing approximately 1.76 billion RI...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Egypt, at the end of July, is once again the largest importer of maize from Brazil at abou...
Livestock Industry Margins
Beef packer margins improved sharply to $258/head last week, up $145 from the prior week as the Choice cutout strengthened while fed cattle prices declined...
Summary of Futures
Dec 26 Corn closed at $5.3775/bushel, up $0.0125 from yesterday's close. Dec 26 Wheat closed at $7.74/bushel, down $0.1 from yesterday's close. ...
Market Commentary: Grains Drift on Profit Taking but Trend-Higher Regime Remains in Place
What You Need to Know Today: End-of-month profit taking sent the CBOT broadly lower, though corn and soybeans managed to post small gains to continue thei...
Tightening Supplies and Strong Demand Fuel a Grain Market Rally
Key Takeaways: Corn and soybean prices rallied sharply last week as declining U.S. production expectations collided with strong demand, raising the prospe...
Trump Targets Meat Packing Sector with Latest Beef Announcement
As WPI reported on 21 August and on 27 August, President Trump has announced a 90-day window during which up to 300,000 metric tons of product for ground b...
Mercosur Regional Analysis
Corn Argentina The 2026/27 Argentine corn planting outlook remains broadly stable, with the Buenos Aires Grain Exchange projecting 8.4 Mha, unchanged from...
CFTC COT Report Analysis
The bull market in ag commodities reached a fevered pitch last week with drought, yield, and export concerns at key places around the world driving massive...
Summary of Futures
Dec 26 Corn closed at $5.365/bushel, up $0.03 from yesterday's close. Dec 26 Wheat closed at $7.84/bushel, up $0.2325 from yesterday's close. N...
Market Commentary: After Bullish Week, WPI Bias is Higher but Risk Management More Important
What You Need to Know Today: Corn, wheat, and the soy complex all formed new contract or at least rally highs to close what has become one of the most uni...
Readout on the Fed’s Jackson Hole Meeting
The Federal Reserve Board holds an annual meeting in Jackson Hole, Wyoming, each year about this time, and this year’s meeting is now. It’s alw...
An Exploration of the Colorado River and Its Many Legal and Economic Canyons
You cannot escape the vortex of opinions about water scarcity in the Western United States, especially in the drought-stricken Colorado River Basin. Agricu...
Summary of Futures
Dec 26 Corn closed at $5.335/bushel, down $0.03 from yesterday's close. Dec 26 Wheat closed at $7.6075/bushel, up $0.125 from yesterday's close. ...
Market Commentary: When Bottlenecks Move Markets
Macro: Trade Flows Set the Tone Persian Gulf crude flows appear to be improving, with anecdotal estimates suggesting as much as 7–8 million barrels p...
Transportation Perspectives - 27 August
Key Takeaways: The Panama Canal traded at a record $5.3 million for a transit slot this week as line-up times extend to 17 days. The difficulties transiti...
Ethanol Margins Set to Decline; Biodiesel Margins Set to Explode
Key Takeaways: Ethanol margins continue to retreat from recent highs as rising costs – particularly corn and natural gas – offset gains...
Livestock Round Up: Ag Groups Push Back on Trump Beef Plan
As WPI reported on 21 August, President Trump has announced a 90-day window during which up to 300,000 metric tons of product for ground beef could be impo...
Why U.S. Lamb Prices Are Import-Anchored and Why Carcass Divergence Matters
Key Takeaways: Imports supply 70–75 percent of U.S. lamb disappearance, with Australia and New Zealand accounting for nearly all imported volume. Th...
Summary of Futures
Dec 26 Corn closed at $5.365/bushel, up $0.13 from yesterday's close. Dec 26 Wheat closed at $7.4825/bushel, up $0.45 from yesterday's close. N...
Market Commentary: Export, Yield, and Attack Headlines Drive Grains to New Highs
What You Need to Know Today: The day belonged to the bulls as fund buying and technical momentum boosted corn, soybeans, and wheat to new rally or contrac...
Cow-Calf Profit Outlook Falls Amid Shifting Economics
Key Takeaways: Expected returns to production for U.S. cow-calf producers have shifted lower from prior forecasts as cattle values fall and feed cos...
Black Sea Regional Analysis
Russian Grain Markets: 17–21 August 2026 The Russian grain market continued to decline during the third week of August as the Black Sea blockade seve...
Summary of Futures
Dec 26 Corn closed at $5.235/bushel, up $0.08 from yesterday's close. Dec 26 Wheat closed at $7.0325/bushel, up $0.0375 from yesterday's close. ...
Market Commentary: Risk-On Trade Dominates as Yields, Supplies Face Threats
What You Need to Know Today: Corn and soybean crop ratings declined late Monday and set the stage for stronger CBOT trade Tuesday. Funds are in risk-on mo...
Canada Imposes Retaliatory Tariffs
Today, Canada announced retaliatory tariffs on 700 products exported from the U.S., aiming to match “dollar for dollar” the duties imposed on C...
The Netherlands: An Unlikely Agricultural Powerhouse
Key Takeaways: Despite its limited farmland, the Netherlands is a major agricultural exporter, focusing on high-value products such as dairy, flowers, mea...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Morocco is reported to be resuming soft wheat imports on 16 September 2026, ending the thr...