CBOT markets - and the soy complex in particular - staged a substantial rally Wednesday afternoon after President Trump’s positive comments on reopen...

In the now fifth U.S. government shutdown in the past 30 years, everyone is guessing about its duration because each shutdown has had its own unique circum...

Dec 25 Corn closed at $4.165/bushel, up $0.01 from yesterday's close.  Dec 25 Wheat closed at $5.0925/bushel, up $0.0125 from yesterday's close. ...

Russian Grains Market: 22–26 September 2025 The Russian grains market remained stable with a slightly bearish tone, particularly for corn, which led...

Bears regained control at the CBOT on Tuesday after the USDA’s quarterly Grain Stocks report found more corn, wheat, and sorghum supplies than trader...

Dec 25 Corn closed at $4.155/bushel, down $0.06 from yesterday's close.  Dec 25 Wheat closed at $5.08/bushel, down $0.115 from yesterday's close. ...

David Ricardo’s concept of comparative advantage has not been disproven; it has just been ignored for the past 200 years. While there has been progre...

It is 30 September, the last day of the fiscal year. Congress must pass a funding bill by midnight tonight or face a government shutdown. The odds are that...

The attached PDF offers graphical depiction and analysis of the latest USDA Grain Stocks data for key commodities. The data is, of course, taken from the q...

Mediterranean/Middle East/North Africa/Africa – MEA Region Syria cancelled its tender for 200,000 MT of wheat. No reason was given for the cancellati...

Last week, beef packer margins fell for the third straight week and hovered just above breakeven levels. Margins fell about $31/head due to weaker beef pri...

The CBOT saw early pressure to start the week with the advancing U.S. corn and soybean harvests creating bearish sentiments that justified funds’ exi...

Chemically Named Europe’s wine grape growers are complaining that EU regulations prohibit them from using the fungicide sodium hydrogen carbonate. It...

Dec 25 Corn closed at $4.215/bushel, down $0.005 from yesterday's close.  Dec 25 Wheat closed at $5.195/bushel, down $0.0025 from yesterday's close.&n...

“Zero Export Taxes”: The Controversy in Argentina Ahead of the elections, the Argentine government faced urgent pressure to secure hard currenc...

Regional News  Last Tuesday, the EU Commission said it is considering a proposal to delay the implantation of the EU Deforestation Regulation (EUDR) t...

In the face of increasing input costs, the U.S. Department of Agriculture (USDA) and the Department of Justice signed a Memorandum of Understanding (MOU) t...

Friday’s CFTC report showed managed money traders adding back to short positions across the ag space as technical conditions quickly deteriorated for...

Volume was lower on Friday, as is generally par for the course. Notable metrics for the day include: December lean hogs hit a new contract high at 91.525/...

Dec 25 Corn closed at $4.22/bushel, down $0.0375 from yesterday's close.  Dec 25 Wheat closed at $5.1975/bushel, down $0.0725 from yesterday's close.&...

Yesterday, WPI presented our initial acreage forecasts for the 2026 U.S. crop year with a focus on the major crops (corn, soybeans, and all-wheat). Today,...

USDA released its quarterly hogs and pigs report yesterday. The inventory of all hogs and pigs on 1 September was 74.5 million head, down 1 percent from Se...

Dry bulk markets are mixed this week as the Capesize sector saw renewed strength while Panamax and Supramax markets struggled to maintain rates.  Cape...

With the damage from Argentina’s export tax suspension over, markets recovered from yesterday’s losses. Like putting a band aid on a fresh woun...

Export Sales and Shipments for September 12-18, 2025  Wheat: Net sales of 539,800 metric tons (MT) for 2025/2026 were up 43 percent from the previous...

Dec 25 Corn closed at $4.2575/bushel, up $0.015 from yesterday's close.  Dec 25 Wheat closed at $5.27/bushel, up $0.075 from yesterday's close. ...

WPI’s initial acreage forecasts for the 2026 U.S. crop year show producers executing a mild expansion of soybean acres at the expense of corn while s...

According to Meat & Livestock Australia (MLA), that country is forecast to produce a record 2.79 MMT of beef in 2025. This is a large turnaround after...

Ag futures were mostly lower at mid-week with the advancing U.S. corn and soybeans harvests and massive soybean sales from Argentina creating a bearish sen...

Dec 25 Corn closed at $4.2425/bushel, down $0.02 from yesterday's close.  Dec 25 Wheat closed at $5.195/bushel, down $0.01 from yesterday's close.&nbs...

President Trump receives harsh criticism for disrupting the international order and his UN speech is no different. His critics called it meandering, full o...

Russian Grains Market: 15–19 September 2025 Bullish sentiment returned to the Russian grain markets during the third week of September, defying expec...

The CBOT was mostly higher on Tuesday as strong export demand – even in spite of Argentina’s temporary export tax cut – continues to driv...

Yesterday, Argentina temporarily stopped its export tax on grains and co-products, as well as beef and poultry, something President Javier Milei had propos...

Surreptitious NTB Import inspectors in Western democracies would blow the whistle if politically told to single out and reject product from a specific fore...

Dec 25 Corn closed at $4.2625/bushel, up $0.045 from yesterday's close.  Dec 25 Wheat closed at $5.205/bushel, up $0.0975 from yesterday's close. ...

Mediterranean/Middle East/North Africa/Africa – MEA Region Iraq’s 2025 wheat crop is above the five-year average at a total of 5.1 MMT which is...

Beef packer margins pulled back last week but remained positive for just the sixth time this year. Margins fell about $64/head due to weaker beef prices (e...

The CBOT was sharply lower to start the week as markets had a negative reaction to surprising policy developments from South America. Argentina’s gov...

Convenience over Causation A months’ long commitment to delivering in September led to today’s announcement by chemo-phobe RFK, Jr. that, &ldqu...

Dec 25 Corn closed at $4.2175/bushel, down $0.0225 from yesterday's close.  Dec 25 Wheat closed at $5.1075/bushel, down $0.1175 from yesterday's close...

Yesterday, USDA released a statement confirming the detection of New World Screwworm (NSW) in in Sabinas Hidalgo, located in the Mexican state of Nuevo Le&...

Argentina’s Tax Policy Update On Monday, 22 September, the Argentine government announced a temporary elimination of export duties on all grains and...

Dry bulk markets were volatile last week but failed to settle on much of a direction. Capesize markets stabilized and seemed to be finding a little support...

Friday’s CFTC report showed managed money traders cutting back short positions across the ag space as technical conditions strengthened for corn, soy...

Markets were over-weight on the Xi – Trump phone call this morning. The phone call went well enough but after it became clear there was no deal on ag...

U.S. Cattle on Feed in feedlots with capacity of 1,000 or more head totaled 11.1 million head on September 1, 2025. The inventory was 1 percent below Septe...

USDA’s monthly Cattle on Feed report was released today at 3 p.m. Total cattle on feed amounted to 11.1 million head, 99 percent of last year, as exp...

Dec 25 Corn closed at $4.24/bushel, up $0.0025 from yesterday's close.  Dec 25 Wheat closed at $5.225/bushel, down $0.0175 from yesterday's close.&nbs...

Southern Plains cow-calf producers’ profitability outlook continues to defy all bullish expectations with projected returns surging to all-time highs...

Export Sales and Shipments for September 5-11, 2025 Wheat: Net sales of 377,500 metric tons (MT) for 2025/2026 were up 24 percent from the previous week, b...

Grain and oilseed trading was mostly in the red today, with livestock markets trading higher. Volume was higher today in soymeal, but otherwise it was mode...

In mythology or legends, the hero is obviously identified – the “good guy” standing up for justice, not compromising what is right, and d...

Dec 25 Corn closed at $4.2375/bushel, down $0.03 from yesterday's close.  Dec 25 Wheat closed at $5.2425/bushel, down $0.04 from yesterday's close.&nb...

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

Technical selling, disappointment with the USDA’s latest policy moves, and favorable rains across the Midwest took a bearish toll on the CBOT markets...

Dec 25 Corn closed at $4.2675/bushel, down $0.0275 from yesterday's close.  Dec 25 Wheat closed at $5.2825/bushel, down $0.0575 from yesterday's close...

WTO and Trump To quote Wikipedia, James Bacchus is “an American statesman, scholar, writer, and politician". He also served as a founding member and...

Russian Grains Market: 8–12 September 2025 Bearish sentiment in the Russian grains markets eased during the second week of September, with prices sta...

The CBOT was higher on Tuesday in a continuation of the post-WASDE exuberance. Rather than USDA’s world balance sheets providing a reason to rally, h...