Key Takeaways: Corn yield came in below expectations at 180.7 bushels per acre, validating WPI’s view that last year’s exceptional yield may h...
Articles
AP Quant: WASDE Vegoils
WPI offers the following PDF of key supply and demand tables and charts relating to the USDA’s latest WASDE report. This is not an all-inclusive comp...
AP Quant: WASDE Wheat
WPI offers the following PDF of key supply and demand tables and charts relating to the USDA’s latest WASDE report. This is not an all-inclusive comp...
AP Quant: WASDE Soybeans
WPI offers the following PDF of key supply and demand tables and charts relating to the USDA’s latest WASDE report. This is not an all-inclusive comp...
AP Quant: WASDE Corn
WPI offers the following PDF of key supply and demand tables and charts relating to the USDA’s latest WASDE report. This is not an all-inclusive comp...
WASDE Soybeans - August 2026
USDA’s August WASDE outlook for 2026/27 U.S. soybeans is for a modest increase in the U.S. ending stocks by 10 million bushels to 320 million. There...
WASDE Corn - August 2026
USDA’s August WASDE outlook for 2026/27 U.S. corn is basically for unchanged production as an increased acreage estimate offset a lower yield forecas...
WASDE Wheat - August 2026
USDA’s August WASDE outlook for 2026/27 reduced U.S. wheat supplies on lower production, which is forecast at 1,531 million bushels, down 5 million f...
Black Sea Regional Analysis
Russian Grain Markets: 3–7 August 2026 The Russian grain market continued to decline during the first week of August following the closure of the Azo...
Summary of Futures
Dec 26 Corn closed at $4.605/bushel, down $0.0125 from yesterday's close. Sep 26 Wheat closed at $6.3025/bushel, down $0.1025 from yesterday's close...
Market Commentary: Larger Global Supply Fears Send CBOT Lower Ahead of WASDE
What You Need to Know Today: The latest EIA Short-Term Energy Outlook forecast 2027 U.S. WTI crude oil at $65.39/brl, up about $5 from the prior forecast...
Understanding Protein Content in Soymeal
Key Takeaways: Soymeal with 44 percent protein generally contains more soybean hulls and fiber, while 48 percent soymeal is more extensively dehulled, res...
Trade and Tariffs’ Effect on GDP for First Half of 2026
The trade deficit contracted slightly to $73.3 billion in June, a break from the volatility that has underscored international trade over the past year. De...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Egypt’s annual urban consumer inflation rate is at 14.9 percent for July 2026, up fr...
Livestock Industry Margins
Beef packer margins deteriorated sharply to -$167/head last week, down $89 from the prior week as fed cattle prices rebounded while the Choice cutout conti...
CFTC COT Report Analysis
Favorable U.S. weather overrode the Black Sea export impacts in last week’s trade and left more bearish sentiments to dominate the CBOT. Managed mone...
Summary of Futures
Dec 26 Corn closed at $4.6175/bushel, down $0.0025 from yesterday's close. Sep 26 Wheat closed at $6.405/bushel, up $0.0075 from yesterday's close.&n...
Market Commentary: WASDE, Black Sea, and Iran Offer Offsetting Effects on Grain Futures
What You Need to Know Today: Tensions in the Middle East escalated over the weekend with Iran demanding the U.S. make multiple concessions that are likely...
Senate Farm Bill: What’s Next?
Senator John Boozman (R-Arkansas) has urged farmers to apply pressure on the failed farm bill during the August recess. His intent is to hold another vote...
India’s Role as the Largest Global Vegetable Oil Importer
Key Takeaways: India is the world’s largest vegetable oil importer, making it a critical source of global demand despite being less prominent than C...
Mercosur Regional Analysis
Argentina Weather continues to dominate the Argentine grain market. Rainfall persisted across much of the country’s agricultural region during the we...
Summary of Futures
Dec 26 Corn closed at $4.62/bushel, up $0 from yesterday's close. Sep 26 Wheat closed at $6.3975/bushel, up $0.085 from yesterday's close. Nov...
Market Commentary: Attention Turns to August WASDE Yield Estimates
What You Need to Know Today: Traders are increasingly focused on next Wednesday’s August WASDE report, with corn and soybean yield estimates expecte...
Senate Farm Bill Derailed over SNAP
Yesterday the Senate Agriculture Committee held its markup of the “skinny” farm bill, and it was derailed over Democratic opposition to plans f...
WPI August Grain Balance Sheet Projections
Key Takeaways: WPI’s 2025/26 corn export models continue to reflect strong international demand and put the total marketing year volume slight...
Agricultural Investment: More Than Commodity Prices
Last week we reviewed an overlooked measure: agricultural productive capital. Using some Bureau of Economic Analysis (BEA) data, we developed an index of g...
Market Commentary: Grain Markets Awaiting New Catalysts
What You Need to Know Today: Iran has developed an initial draft plan that would prohibit U.S. and Israeli ships from transiting the Strait of Hormu...
Transportation Perspectives - 6 August
Key Takeaways: Global freight markets are mixed this week with Capesize and Panamax vessel seeing strong performance, primarily on iron ore demand and U.S...
Summary of Futures
Dec 26 Corn closed at $4.62/bushel, up $0.02 from yesterday's close. Sep 26 Wheat closed at $6.3125/bushel, down $0.11 from yesterday's close. ...
EU Marks Paradigm Shift with Cattle
For years, the EU treated its cows, pigs, and broilers mainly as a source of emissions to be reduced. This week the European Commission gave them a new job...
Wool Economics: A Missing U.S. Value Chain
Wool is one of the most misunderstood U.S. agricultural commodities. Fine wool in the 17–21 micron range commands premium prices in luxury apparel, t...
Summary of Futures
Dec 26 Corn closed at $4.6/bushel, down $0.055 from yesterday's close. Sep 26 Wheat closed at $6.4225/bushel, up $0.0375 from yesterday's close. ...
Market Commentary: Caution Beneath the Headlines
There are plenty of major headlines moving across the markets today, but the reaction beneath them remains cautious. Crude oil is holding steady despite re...
Sugarcane: The World’s Most Abundant Crop but Often Overlooked
Key Takeaways: Sugarcane is the world’s largest crop by total production volume, surpassing major commodities such as corn, wheat, and soybeans, and...
Black Sea Regional Analysis
Russian Grain Markets: 27–31 July 2026 Russian grain prices declined sharply during the week under review as new-crop supplies entered the market and...
Market Commentary: Improved Weather Outlook, Possible Iran Deal Send Grains, Oil Lower
What You Need to Know Today: U.S. Treasury Secretary Bessent said the U.S. and Iran could “today or tomorrow” reach a deal to reopen the Strai...
Livestock Industry Margins
Beef packer margins slipped modestly for the first time in four weeks, declining $15/head to -$78 as fed cattle prices firmed while boxed beef values conti...
Summary of Futures
Dec 26 Corn closed at $4.655/bushel, down $0.07 from yesterday's close. Sep 26 Wheat closed at $6.385/bushel, down $0.125 from yesterday's close.&nbs...
Offal Meat: Challenges and Opportunities in a Global Market
Key Takeaways: Offal represents an important segment of global meat trade by adding value to underutilized portions of livestock carcasses and improving o...
Fertilizer Outlook
Easing tensions in the Strait of Hormuz, assuming the ceasefire holds, should bring fertilizer prices down, but it could be years before that actually occu...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region TMO, the Turkish Grain Board, has announced that milling wheat exports were allowed as of...
Market Commentary: Black Sea Export Halts, U.S. Weather Risks Send CBOT Higher
What You Need to Know Today: President Trump suspended the planned attacks on Iran and announced that the pieces for a framework for peace were in place i...
CFTC COT Report Analysis
The escalating impacts of Russia and Ukraine’s recent attacks and counter attacks in the Black Sea continues to drive bullish CBOT sentiments. Manage...
Summary of Futures
Dec 26 Corn closed at $4.725/bushel, up $0.085 from yesterday's close. Sep 26 Wheat closed at $6.51/bushel, up $0.1175 from yesterday's close. ...
E15 Expansion Could Boost Corn Demand, But Adoption Faces Hurdles
Key Takeaways: E15 expansion would support corn and ethanol demand by increasing domestic biofuel consumption and reducing reliance on petroleum-based fue...
Senate Farm Bill Draft Released
Late Friday afternoon, Chairman John Boozman (R-Arkansas) released an updated draft of the Senate farm bill. The farm bill markup is scheduled for Thursday...
Mercosur Regional Analysis
Corn Argentina's corn harvest has reached 69.8 percent of the national harvestable area. Harvest progress remains constrained primarily in southeastern Bue...
Summary of Futures
Dec 26 Corn closed at $4.64/bushel, down $0.045 from yesterday's close. Sep 26 Wheat closed at $6.3925/bushel, down $0.2425 from yesterday's close.&n...
Market Commentary: Record Soyoil Demand Contrasts With Grain Market Weakness
What You Need to Know Today: Record biofuel demand continues to support soyoil values, as EIA data show that May soyoil usage as a biofuel feedstock reach...
Specialty Crops Seeking Equity in Funding
A bipartisan group of 26 lawmakers, led by Representative David Valadao (R-CA), sent a letter to House Speaker Mike Johnson (R-Louisiana) and House Agricul...
Biomass-Based Diesel Feedstock Update: May Sets Record for Soyoil Usage
Key Takeaways: Soyoil consumption as a biofuel feedstock climbed to a record 1.434 billion pounds in May, setting a new all-time monthly high. Improved 45...
Agriculture’s Productive Capital: An Overlooked Measure
Agriculture generates a lot of numbers in addition to crops and livestock. As ag economists, we are continually reviewing crop production, commodity prices...
Summary of Futures
Dec 26 Corn closed at $4.685/bushel, down $0.0325 from yesterday's close. Sep 26 Wheat closed at $6.635/bushel, up $0.0275 from yesterday's close.&nb...
Market Commentary: Cattle Outperform Hogs on Quiet Day for Corn and Soy
What You Need to Know Today: The U.S. and Iran resumed missile strikes after a brief pause in fighting, raising concerns that the five-month conflict coul...
Livestock Roundup: Senate Farm Bill Threats to Meat Industry
The Senate Agriculture Committee will take up the farm bill next week, and a number of amendments targeting the meat industry are expected to be offered. T...
The Deserted Village
Oliver Goldsmith's The Deserted Village, published in 1770, is of a timeless quality. It is a 425-line lament for a disappearing rural world, where prosper...
The Consumer Reset: How GLP-1, Protein, and Value Are Reshaping Foodservice
The industry has spent two years bracing for GLP-1 medications to hollow out demand, but the data so far tells a more interesting story. Roughly one in eig...
Transportation Perspectives - 30 July
Wow – what a week for freight markets. Things are changing incredibly rapidly as escalations in the U.S.-Iran war and the Ukraine-Russia conflict res...
Summary of Futures
Dec 26 Corn closed at $4.7175/bushel, down $0.0875 from yesterday's close. Sep 26 Wheat closed at $6.6075/bushel, down $0.0175 from yesterday's close...
Market Commentary: War Moves Oil. Weather Moves Grain.
If Wednesday’s trade proved anything, it is that not every market is listening to the same headline. Renewed fighting between the U.S. and Iran sent...