May 25 Corn closed at $4.6025/bushel, up $0.0275 from yesterday's close.  May 25 Wheat closed at $5.29/bushel, down $0.07 from yesterday's close. ...

Now that the Administration’s tariff plans are out, what is happening to the trade deficit? After hitting a record in January, the trade deficit shra...

Anyone following the beef and cattle markets recently has seen the volatility that preceded the recent surge to new contract highs, and the lack of consens...

May 25 Corn closed at $4.575/bushel, down $0.0025 from yesterday's close.  May 25 Wheat closed at $5.36/bushel, down $0.0325 from yesterday's close.&n...

The market opened today as it had closed from the previous night’s session, with double digit declines in many contracts. An hour into today’s...

Early reactions to President Trump’s tariff war are as expected. Major foreign trading partners are expressing shock and assuring Washington that if...

Yesterday, President Trump imposed reciprocal tariffs, stating: My fellow Americans, this is Liberation Day. April 2, 2025, will forever be remembered as t...

Export Sales and Shipments for March 21-27, 2025. Wheat: Net sales of 340,000 metric tons (MT) for 2024/2025 were up noticeably from the previous week and...

The Market  Prior to the Liberation Day tariffs that President Trump announced late Wednesday, oilseed markets were seeing noted strength due to renew...

May 25 Corn closed at $4.5775/bushel, down $0.04 from yesterday's close.  May 25 Wheat closed at $5.3925/bushel, down $0.0125 from yesterday's close.&...

President Trump declared 2 April as “Liberation Day” for U.S. trade policy, which is funny because the policies have nothing to do with liberat...

“Reciprocal” Tariffs President Trump’s political opponents acknowledge he is a great marketer and his multi-day hype of a “Liberati...

Russian Grain Markets: 24 – 28 March 2025 The Russian Ministry of Agriculture once again announced revised figures for the 2024 crop including occupi...

The CBOT was mostly higher following the all-important Prospective Plantings and Grain Stocks reports with traders looking to price in emerging factors now...

May 25 Corn closed at $4.6175/bushel, up $0.045 from yesterday's close.  May 25 Wheat closed at $5.405/bushel, up $0.035 from yesterday's close. ...

Trump’s tariff threats are said to be causing uncertainty, though its intent is transparent. One thing tomorrow’s release of the tariff plan wi...

USDA Retirement: USDA employees have until 8 Apil to decide whether to participate in the administration's so-called deferred resignation program. USDA emp...

Near-record negative margins for beef packers continue to dominate discussion of livestock industry margins this week. Beef packer profits rebounded slight...

Mediterranean/Middle East/North Africa/Africa – MEA Region There is very little information on the Middle East and North Africa due to the end of Ram...

May 25 Corn closed at $4.5725/bushel, up $0.04 from yesterday's close.  May 25 Wheat closed at $5.37/bushel, up $0.0875 from yesterday's close. ...

The big news in commodity markets Monday was the release of USDA’s Prospective Plantings and Grain Stocks reports, the former of which offered the ag...

Liberation Day Minus One The Trump team is said to be weighing 20 percent across the board tariffs, reducing the share of U.S. funding of the WTO, and crit...

President Trump said yesterday, his reciprocal tariffs will launch this Wednesday, calling it “Liberation Day.” Those new tariffs will affect "...

Argentina Continues to Face Weather Instability   Argentina remains in a period of climate instability, with frequent heavy rains, strong winds,...

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...

Friday’s CFTC report showed continued selling activity from managed money funds in the grain and oilseed sector. The action was expected, given the w...

It was all red this morning, except of course soyoil. Even lean hog futures were negative despite the relatively bullish USDA Hogs & Pigs report after...

May 25 Corn closed at $4.5325/bushel, up $0.0325 from yesterday's close.  May 25 Wheat closed at $5.2825/bushel, down $0.0375 from yesterday's close.&...

Argentine soybean farmers are selling their crop at the slowest pace in 10 years as producers bet on the likely effects of libertarian President Javier Mil...

The March Hogs and Pigs report offered the industry a much-needed look at what the supply situation is and is likely to be for the coming year. As WPI read...

Export Sales and Shipments for March 14-20, 2025.   Wheat: Net sales of 100,300 metric tons (MT) for 2024/2025 were down noticeably from the prev...

May 25 Corn closed at $4.5/bushel, down $0.0125 from yesterday's close.  May 25 Wheat closed at $5.32/bushel, down $0.0325 from yesterday's close.&nbs...

Futures traded bearishly mixed. The start of the trade war, the possible hiatus in the Ukraine war, static weather conditions, and major USDA reports to be...

USDA released its quarterly Hogs and Pigs report today. The inventory of all hogs and pigs on 1 March was 74.5 million head. This was down slightly from 1...

The Market  The big movement in oilseed markets this week is the rally in soyoil futures, which are up 4 percent from last week. The market has rallie...

The CBOT bears were in control of markets again on Wednesday and drove corn and wheat futures lower with significant technical developments. Fresh news rem...

May 25 Corn closed at $4.5125/bushel, down $0.065 from yesterday's close.  May 25 Wheat closed at $5.3525/bushel, down $0.08 from yesterday's close.&n...

Trade War Maneuvering Wall Street trading sank lower on word that the White House will announce today tariffs on automobile imports. While some U.S. farm g...

Russian Grain Markets: 17 – 21 March 2025 Russian farmers started planting and fertilizing winter crops which is rather early for this time of the ye...

Bears were in control of the CBOT on Tuesday and sent corn, soybeans, and wheat all lower with several significant technical developments. Fresh fundamenta...

May 25 Corn closed at $4.5775/bushel, down $0.0675 from yesterday's close.  May 25 Wheat closed at $5.4325/bushel, down $0.05 from yesterday's close.&...

U.S. manufacturing energy consumption has continued to increase, according to the EIA’s recently released survey results for 2022. The agency conduct...

Transatlantic Provocations No one knows what to fully expect on 2 April and the launch of President Trump’s “Liberation Day.” Bill Reinsc...

Mediterranean/Middle East/North Africa/Africa – MEA Region Morocco’s rainfall has increased this year after the last two/three years of drought...

The big story in livestock industry margins continues to be the record-breaking weakness in beef packer profits, which fell another $50/head last week to -...

The CBOT saw a mostly quiet day to start the week with grains and the oilseed complex trading mostly sideways as traders await shifts in demand or any upda...

Hill Trade Advice:  The U.S. House Ways & Means’ Trade Subcommittee holds a hearing tomorrow on American trade negotiation priorities. Witne...

May 25 Corn closed at $4.645/bushel, up $0.0025 from yesterday's close.  May 25 Wheat closed at $5.4825/bushel, down $0.1 from yesterday's close. ...

The U.S. has imposed tariffs widely against a host of trading partners, and those partners have retaliated with duties of their own. AgWeb's March monthly...

Corn Market  Thanks to a week of minimal rainfall across Argentina’s agricultural region, the corn harvest is gaining momentum. Weekly progress...

The fundamentals are unchanged but there is a cloud overhead due to the impending tariff war and the headwinds that portends. So, the market today and all...

U.S. Cattle on Feed in U.S. feedlots with capacity of 1,000 or more head was 11.6 million head on March 1, 2025. The inventory was 2 percent below March 1,...

USDA released the monthly Cattle on Feed report today. The total inventory in feedlots of 1,000 head or more capacity is 11.6 million head, 98 percent of l...

May 25 Corn closed at $4.6425/bushel, down $0.0475 from yesterday's close.  May 25 Wheat closed at $5.5825/bushel, up $0.01 from yesterday's close.&nb...

Southern Plains cow-calf producers saw excellent profitability in 2024, which, by some measures, was the best in history. Current prices indicate that 2025...

Wheat was the ball and chain while corn was the balloon in today’s trading. The weekly USDA Export Sales report from USDA was notable for wheat with...

Export Sales and Shipments for March 7-13, 2025   Wheat: Net sales reductions of 248,800 metric tons (MT) for 2024/2025--a marketing-year low--we...

May 25 Corn closed at $4.69/bushel, up $0.07 from yesterday's close.  May 25 Wheat closed at $5.5725/bushel, down $0.0625 from yesterday's close. ...

The Market  The weekly Export Sales report was disappointing for soybeans as old crop net sales fell by half from the prior week and new crop net sale...

What a difference a year makes! No one will forget how out of balance cattle markets were in 2022 with margins steeply favoring the packer, while feedlots...

Except for the wheat market, the CBOT and CME largely continued their existing trends on Wednesday. Wheat futures offered perhaps the most interesting trad...

May 25 Corn closed at $4.62/bushel, up $0.0325 from yesterday's close.  May 25 Wheat closed at $5.635/bushel, down $0.015 from yesterday's close. ...

Today was National Agriculture Trade Day, an effort to boost awareness about the benefits of trade to the sector. However, the milestone also sparked debat...

Russian Grain Markets: 10 – 14 March 2025 Probably for the first time in recent history the Russian Ministry of Agriculture has announced crop produc...

Livestock industry margins were mostly lower last week as rising input costs crimped the profitability outlook. Declines were greatest for feedlot placemen...

Once again, the big action in the ag futures markets was in the cattle markets, where futures hit new contract and all-time highs for the second straight d...

The cattle marketing year is off to a strange start. In the first eight weeks of 2025, weekly carcass weights have averaged 40 pounds more than the same pe...

May 25 Corn closed at $4.5875/bushel, down $0.0225 from yesterday's close.  May 25 Wheat closed at $5.65/bushel, down $0.035 from yesterday's close.&n...

‘Dirty 15’ Treasury Secretary Scott Bessent said that the Trump Administration may provide one unique number as the newly applied general tarif...

Mediterranean/Middle East/North Africa/Africa – MEA Region Tunisia and Algeria are seeing swarms of desert locusts coming from Libya on current stron...

The CBOT saw wheat lead the way higher as traders are increasingly concerned about dry weather in the U.S. Southern Plains, as well as parts of the Black S...

May 25 Corn closed at $4.61/bushel, up $0.025 from yesterday's close.  May 25 Wheat closed at $5.685/bushel, up $0.115 from yesterday's close.  M...

The House of Representatives and the U.S. Senate have both passed the full-year Continuing Appropriations Act, which would fund the government under a cont...

Corn Harvest Progress and Crop Conditions Rain has slowed the corn harvest across much of Argentina’s central region, with progress advancing just 1...

Regional News  Egg shortages and rising prices are not just a feature of U.S. agriculture right now, German and northern European markets broadly are...

The first 100 days of the second Trump presidency doesn’t end until 30 April and is a meaningless metric because Donald Trump’s initiatives wil...

Last week’s CFTC report showed some interesting an unexpected trends. First, despite the technical bounce in corn futures, funds cut 36 percent of th...

There was little in terms of new fundamentals today, and on generally lower volume the board saw mixed trading and results. It was a big week for HRW as th...

May 25 Corn closed at $4.585/bushel, down $0.0675 from yesterday's close.  May 25 Wheat closed at $5.57/bushel, down $0.055 from yesterday's close.&nb...

Brazilian soybean farmers will reap an even bigger crop in the 2024/25 season than previously expected, according to forecasts released by the Brazilian cr...

The U.S. grain export industry – and the transportation sector broadly – are increasingly concerned about the USTR’s proposed Section 301...

The market is facing many knowns and unknowns. How President Trump’s tariff war will proceed is top among the unknowns, though it cannot be good unti...

May 25 Corn closed at $4.6525/bushel, up $0.045 from yesterday's close.  May 25 Wheat closed at $5.625/bushel, up $0.085 from yesterday's close. ...

Historical red meat and poultry supply and use estimates are adjusted to reflect revisions in slaughter, inventory, cold storage, and production data. Tota...

The Market  Of course, the big news in oilseed markets this past week has revolved around tariffs and retaliatory tariffs – most notably China a...

The CBOT was mostly lower on Wednesday as the lack of big changes in the March WASDE effectively amounted to ammunition for bears. Bull markets need to be...

May 25 Corn closed at $4.6075/bushel, down $0.095 from yesterday's close.  May 25 Wheat closed at $5.54/bushel, down $0.0275 from yesterday's close.&n...

Russian Grain Markets: 3 – 7 March 2025 The Russian Ministry of Agriculture forecasts this year's total planted area to be higher than the previous y...

Tariff Waste Now that Trump tariffs are going into full swing, the question is for what objective? The President says other countries treat America unfairl...

Livestock industry margins were mostly steady/higher last week, with the notable exception of beef packer margins. Beef processing profits fell $20/head la...

Today’s March USDA WASDE report did nothing to temper the bearish mood in both commodity and equity markets. Volume was light ahead of the WASDE rele...

Soybeans: USDA’s March estimates for the U.S. 2024/25 season are unchanged this month. The season-average soybean price is projected at $9.95 per bus...

Corn: USDA’s March estimates for the U.S. 2024/25 season are unchanged from last month – and the season-average corn price received by farmers...

Wheat: USDA reduced U.S. wheat exports for the 2024/25 season by 15 million bushels and increased imports by 10 million bushels.  The result is that U...

May 25 Corn closed at $4.7025/bushel, down $0.0175 from yesterday's close.  May 25 Wheat closed at $5.5675/bushel, down $0.0575 from yesterday's close...

Q1 GDP growth is expected to be negative, per the Atlanta Fed “GDPNow.” Spending data is still generally positive through January, however, con...