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Summary of Futures

Mar 26 Corn closed at $4.295/bushel, up $0.01 from yesterday's close.  Mar 26 Wheat closed at $5.2675/bushel, down $0.02 from yesterday's close. ...

China Market Analysis

No. 1 Central Document China has released its No. 1 document for 2026, which calls for strengthening the country’s agriculture sector and rural linka...

Policy Quick Hits

Appropriations. Last Friday, the Senate passed an amended appropriations bill for the remaining FY26 funding shortfall. The measure included a two-week con...

Summary of Futures

Mar 26 Corn closed at $4.285/bushel, up $0.0275 from yesterday's close.  Mar 26 Wheat closed at $5.2875/bushel, up $0.01 from yesterday's close. ...

Middle East, Mediterranean, and Africa Regional Analysis

Mediterranean/Middle East/North Africa/Africa – MEA Region Israel will raise import tariffs on wheat from Russia and Ukraine under a new tariff agree...

India’s Catbird Seat; Targeting Cuba; Good and Bad GMOs

India’s Catbird Seat China is a state-run economy with formidable output, utilizing abundant, lower-cost labor. India is a democracy with a massive l...

Summary of Futures

Mar 26 Corn closed at $4.2575/bushel, down $0.025 from yesterday's close.  Mar 26 Wheat closed at $5.2775/bushel, down $0.1025 from yesterday's close...

Meat Producer Price Index

Wholesale meat prices fell across the board in December, seasonally adjusted, according to Producer Price Index (PPI) data released Friday by the Bureau of...

Mercosur Regional Analysis

South America Weather Overview Argentina received some rainfall this week, but precipitation was concentrated in the northeast and western regions, with ac...

CFTC COT Report Analysis

Friday’s CFTC report showed funds building their net long position across the major ag futures contracts for the second straight week. Funds added 10...

Summary of Futures

Mar 26 Corn closed at $4.2825/bushel, down $0.025 from yesterday's close.  Mar 26 Wheat closed at $5.38/bushel, down $0.035 from yesterday's close.&nb...

Market Commentary: Get Out of Dodge Friday

Although the week was mixed, there was a convincing move lower on Friday. The mood spelled exit as all the major agricultural contracts closed lower. Even...

Livestock Round Up: Cattle Inventory Report

USDA’s semi-annual cattle report was issued today. The inventory of all cattle and calves in the U.S. as of 1 January was 86,155,300 head, slightly b...

Cracking the Egg Price Mystery

Egg prices have been through a volatile 18 months, rallying sharply in LH 2024 and into early 2025 as bird flu decimated the U.S. layer flock. In early 202...

Export Sales

Export Sales and Shipments for January 16-22, 2026  Wheat: Net sales of 558,200 metric tons (MT) for 2025/2026 were down 10 percent from the previous...

Market Commentary: Weather Impacts as Commodities Move Their Own Way

Markets traded higher overnight and opened that way this morning, but the soy complex quickly gave way. Weather threatens shipments down the Mississippi, y...

Summary of Futures

Mar 26 Corn closed at $4.3075/bushel, up $0.0075 from yesterday's close.  Mar 26 Wheat closed at $5.415/bushel, up $0.055 from yesterday's close. ...

Transportation and Export Report - 28 January 2026

Grain transportation was thrown into confusion this week as ice and low water levels on the Mississippi River System snarled barge traffic and caused a sur...

Livestock Round Up: Cattle Inventory Report Preview

USDA’s semi-annual cattle report will be issued on Friday. The outlook calls for the cattle herd to be 86.4 million head, down from 86.7 million head...

Transportation Perspectives - 29 January

Grain transportation was thrown into confusion this week as ice and low water levels on the Mississippi River System snarled barge traffic and caused a sur...

Black Sea Regional Analysis

Russian Grain Markets: 19–23 January 2026 The Russian grains market is volatile, showing bearish sentiments on the RUB export trade platform despite...

Summary of Futures

Mar 26 Corn closed at $4.3/bushel, up $0.035 from yesterday's close.  Mar 26 Wheat closed at $5.36/bushel, up $0.1275 from yesterday's close.  Ma...

Thailand Soy Tariffs Update

Thailand’s market is now officially reopened to soybean and soymeal imports as the government has resolved a lapse in tariff policy that caused impor...

Livestock Industry Margins

Beef packer margins remained deeply negative, with estimated net losses at -$185/head, little changed from the prior week. Rising boxed beef values continu...

China Market Analysis

2025 Review The Ministry of Agriculture and Rural Affairs says China produced a record 714.9 MMT of grain in 2025, an increase of 8.4 MMT, or 2.6 percent...

Summary of Futures

Mar 26 Corn closed at $4.265/bushel, down $0.0175 from yesterday's close.  Mar 26 Wheat closed at $5.2325/bushel, up $0.0075 from yesterday's close.&n...

Congressional Letter on Buy-Up Coverage Rule

USDA’s Federal Crop Insurance Corporation (FCIC) published a new rule for crop insurance late last year, the Expanding Access to Risk Protection (EAR...

Middle East, Mediterranean, and Africa Regional Analysis

Mediterranean/Middle East/North Africa/Africa – MEA Region Turkey’s barley imports in 2025/26 are forecasted to reach 1.7 MMT, up from only 150...

European Market Analysis

Regional News  Macroeconomic markets remain especially uncertain and chaotic, and exchange-rate volatility is having a direct impact on grain trade. P...

Summary of Futures

Mar 26 Corn closed at $4.2825/bushel, down $0.0225 from yesterday's close.  Mar 26 Wheat closed at $5.225/bushel, down $0.07 from yesterday's close.&n...

Free Trade Style; 30,000 Feet; Technology Evolution; Taxing Food

Free Trade Style Brussels realizes the mistake it made when it included agriculture in its free trade negotiations with the Mercosur countries. Proponents...

Mercosur Regional Analysis

CORN As of today, 93 percent of the expected area has been planted, representing a year-on-year delay of more than five percentage points. Some late-plante...

E15 Dropped from Appropriations Bill

In a years-long, ongoing policy battle, a provision to secure E15 was dropped at the last minute from the appropriations bill. On paper, the path forward l...

CFTC COT Report Analysis

Friday’s CFTC report showed funds maintaining positions in the major ag futures contract, breaking a four-week trend of significant net selling. Fund...

Market Commentary: Major Influences Yield Higher Day/Week

Markets moved higher today, with larger volumes trading in corn and winter wheat. While fundamentals remain broadly unchanged currently, there were several...

Cattle on Feed Report

USDA’s monthly Cattle on Feed report was released today. Total cattle on feed amounted to 11.5 million head, or 97 percent of last year. Placements w...

Summary of Futures

Mar 26 Corn closed at $4.305/bushel, up $0.065 from yesterday's close.  Mar 26 Wheat closed at $5.295/bushel, up $0.14 from yesterday's close.  M...

Export Sales

Export Sales and Shipments for January 9-15, 2026. Wheat: Net sales of 618,100 metric tons (MT) for 2025/2026 were up noticeably from the previous week and...

Water Wars: 2026 Edition

Water is the world’s most important commodity, but also its most underappreciated—until scarcity starts. Water scarcity runs in cycles, and rep...

Market Commentary: General Equilibrium with Weather and War

Outside markets continued their reversal higher following the rescission of President Trump’s tariff threats against Europe. Ukraine’s grain ex...

2026 Outlook: Market Home Runs Unlikely, Use Risk Management to Stay at Bat This Year

With the spring planting effort just around the corner, producers and traders are starting to get a handle on the outlook for the coming marketing year. Th...

Livestock Roundup: Cattle on Feed Preview

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

Transportation and Export Report - January 22, 2026

WPI is pleased to release the third week of the Transportation and Export Report, a weekly industry publication previously produced by ocean freight specia...

Summary of Futures

Mar 26 Corn closed at $4.24/bushel, up $0.0225 from yesterday's close.  Mar 26 Wheat closed at $5.155/bushel, up $0.0775 from yesterday's close. ...

Livestock Industry Margins

Beef packer margins improved for a second consecutive week but remained firmly negative. Margins rose $70/head to –$179 as the Choice cutout advanced...

Market Commentary: Divergent Day Highlights Divergent Outlook

The CBOT started Wednesday’s overnight trade on a high note with traders returning from the prior day’s risk-off selling and finding support fr...

GI Chimera; Catch Bees with Honey; AI My Eye

GI Chimera The EU-Mercosur trade agreement has hit another stumbling block after the European Parliament asked the EU’s high court to first assess th...

Summary of Futures

Mar 26 Corn closed at $4.2175/bushel, down $0.02 from yesterday's close.  Mar 26 Wheat closed at $5.0775/bushel, down $0.025 from yesterday's close.&n...

Black Sea Regional Analysis

Russian Grain Markets: 12–16 January, 2026 The Russian grains market is slowly but steadily emerging from the extended holiday period. Extreme cold w...

Transportation Perspectives - 21 January

WPI is pleased to release the third week of the Transportation and Export Report, a weekly industry publication previously produced by ocean freight specia...

Greenland Tweets Sink Macroeconomic Markets, CBOT and Ags Follow

The CBOT started off in risk-off mode Tuesday as rising U.S./EU tensions and odd dynamics in global macroeconomic markets (the rally in Japanese bond yield...

China Market Analysis

Economy and Diet The decline in China’s population, with the birthrate falling 17 percent to its lowest since 1949, is likely having some impact on t...

Middle East, Mediterranean, and Africa Regional Analysis

Mediterranean/Middle East/North Africa/Africa – MEA Region Iraq is reported to be facing the “driest year in modern history” due to droug...

Summary of Futures

Mar 26 Corn closed at $4.2375/bushel, down $0.01 from yesterday's close.  Mar 26 Wheat closed at $5.1025/bushel, down $0.0775 from yesterday's close.&...

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