USDA made no change to U.S. ending stocks of soybeans for the 2024/25 season. The season-average soybean price is projected at $10.10 per bushel, down 10 c...

USDA made no change to U.S. ending stocks of corn for the 2024/25 season. The projected season-average farm price is raised 10 cents to $4.35 per bushel. G...

USDA made a small reduction in ending stocks of U.S. wheat by 4 million bushels to 794 million but are 14 percent above last year. The season-average farm...

President Trump’s tariffs on steel and aluminum imports are mostly pure protectionism. Canada, Brazil and Mexico are the main suppliers, not the stat...

Mediterranean/Middle East/North Africa/Africa – Mea Region Turkey’s wheat imports and exports are lower in 2024/25 due to restrictions by the T...

U.S. meat packer margins fell further last week as beef and, to a lesser extent pork, values contracted while animal procurement costs remain high. WPI&rsq...

Traders spent most of Monday preparing for the February WASDE report to be released Tuesday at Noon ET, which meant that the CBOT saw mostly weaker or rang...

China is set to implement retaliatory tariffs on a variety of U.S. goods starting as soon as today, further intensifying trade tensions between the two eco...

Greer Approval Jamieson Greer is expected to win approval from the Senate Finance Committee tomorrow to become the next U.S. Trade Representative. His hear...

Mar 25 Corn closed at $4.915/bushel, up $0.04 from yesterday's close.  Mar 25 Wheat closed at $5.795/bushel, down $0.0325 from yesterday's close. ...

Corn Significant rainfall fell across almost the entire Argentine agricultural region last week, with the highest accumulations in the core corn and soybea...

Milling Wheat  Global wheat prices were higher last week as concerns about the 2024/25 Russian supply and export program increase as well as concerns...

The CFTC report featured more bullish sentiments from managed money traders with funds slightly expanding a massive long position in corn and adding length...

Today’s trading was mostly lower based on South American weather and the ever-present tariff threat. Overall, the first week in February 2025 experie...

Mar 25 Corn closed at $4.875/bushel, down $0.0775 from yesterday's close.  Mar 25 Wheat closed at $5.8275/bushel, down $0.05 from yesterday's close.&n...

With the USDA’s annual Ag Outlook forum happening at the end of this month and planting season a little more than four weeks away for parts of the U...

The Trump Administration’s placement of the U.S. Agency for International Development on ice has sparked a firestorm in Washington. Critics of the ag...

The upheaval in the market early this week caused by the head fake on tariffs has subsided and the focus has now returned to fundamental supply and demand...

Export Sales and Shipments for January 24-30, 2025.  Wheat: Net sales of 438,900 metric tons (MT) for 2024/2025 were down 4 percent from the previous...

Mar 25 Corn closed at $4.9525/bushel, up $0.02 from yesterday's close.  Mar 25 Wheat closed at $5.8775/bushel, up $0.155 from yesterday's close. ...

The big news in the ag commodity markets Wednesday was the pullback in soybean futures as traders remain wary of the political tensions and tariff developm...

Mar 25 Corn closed at $4.9325/bushel, down $0.0125 from yesterday's close.  Mar 25 Wheat closed at $5.7225/bushel, down $0.0475 from yesterday's close...

Divergence of Markets Food away from home has been outpacing food at home as the cost of human services has written. The categories on the rise include mea...

Russian Grain Markets: 27 – 31 January 2025 The market remained bullish, however, the dynamics and stability varied from region to region. Prices in...

Markets were encouraged by the fact both Canada and Mexico were able to secure 30-day delays on Trump’s tariff plans, which offers hope the duties ar...

Unbridled Confidence As President Trump’s tariffs were about to go into effect on Canada and Mexico, a farmer representative gave assurance that they...

Mar 25 Corn closed at $4.945/bushel, up $0.0575 from yesterday's close.  Mar 25 Wheat closed at $5.77/bushel, up $0.1025 from yesterday's close. ...

MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Turkey’s monthly inflation rate increased by 5.03 percent in January while the 12-mo...

Livestock producer margins were mostly higher last week as gains in physical cattle prices and deferred hog futures supported profitability expectations. F...

News of President Trump’s tariffs against China, Mexico, and Canada drove the agricultural and macroeconomic markets on Monday with seemingly every t...

Agencies and Buildings Donald Trump’s flurry of actions to upset the status quo in Washington is upsetting bureaucrats, but perhaps not Democrats. Wh...

Mar 25 Corn closed at $4.8875/bushel, up $0.0675 from yesterday's close.  Mar 25 Wheat closed at $5.6675/bushel, up $0.0725 from yesterday's close.&nb...

Export Tax Update The reduction in export taxes has not yet had the expected impact of boosting farmer sales of grain and soybeans. The main issue is that...

The CFTC report was in line with expectations again as it showed funds still engaged in the expected buying in corn and across the soy complex. Funds expan...

President Trump’s announcement that he will impose 25 percent tariffs on Canada and Mexico starting tomorrow eclipsed concerns about South American w...

USDA released its January Cattle Inventory report today. The U.S. cattle herd is still in a contraction phase.  The total inventory of all cattle and...

Tariff Follies Begin There is playing from strength, like having the leverage of oversized trade deficits, and then there is overplaying one’s hand...

Mar 25 Corn closed at $4.82/bushel, down $0.0825 from yesterday's close.  Mar 25 Wheat closed at $5.595/bushel, down $0.07 from yesterday's close.&nbs...

Today’s trading session pretty much followed the overnight with wheat notching a third day of gains but traders taking a breather on corn, beans, and...

Tomorrow, the USDA will release its January Cattle Inventory Report. Given USDA’s decision to drop the July mid-year report due to budget constraints...

Export Sales and Shipments for January 17-23, 2025 Wheat: Net sales of 456,100 metric tons (MT) for 2024/2025 were up noticeably from the previous week and...

Mar 25 Corn closed at $4.9025/bushel, down $0.0675 from yesterday's close.  Mar 25 Wheat closed at $5.665/bushel, up $0.04 from yesterday's close.&nbs...

The CBOT was mostly higher on Wednesday due to the bullish influences of wheat and corn. The two grains saw support from Black Sea and South American weath...

Mar 25 Corn closed at $4.97/bushel, up $0.1175 from yesterday's close.  Mar 25 Wheat closed at $5.625/bushel, up $0.1725 from yesterday's close. ...

White House press secretary Karoline Leavitt says that the Administration is still on track to impose a 25 percent tariff on Canada and Mexico this Saturda...

Russian Grain Markets: 20 – 24 January 2025 The domestic market remained bullish while the export market in dollar terms remained relatively stable...

The CBOT turned higher on Tuesday in what was mostly a technically driven corrective bounce. With South America’s weather still not perfect and vario...

WTO Epiphany Keith Rockwell is a trade policy professional. The lead spokesman for the WTO for many years, he was a cheerleader for the new world order and...

Mar 25 Corn closed at $4.8525/bushel, up $0.0325 from yesterday's close.  Mar 25 Wheat closed at $5.4525/bushel, up $0.0975 from yesterday's close.&nb...

Yesterday, the Office of Management and Budget (OMB) circulated a memo that directed federal agencies to “temporarily pause all activities related to...

MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt’s new state grain buyer – Mostakbal Misr – is rumored to have made...

Rising animal costs pressured beef and pork packer margins last week while offering a boost to livestock feeders. Most notably, feedlot margins improved si...

The CBOT was mostly lower to start the week with grain and oilseed futures seeing pressure develop after the U.S. and Colombia averted a possible tit-for-t...

Mar 25 Corn closed at $4.82/bushel, down $0.045 from yesterday's close.  Mar 25 Wheat closed at $5.355/bushel, down $0.085 from yesterday's close.&nbs...

Un-Whole of Government President Trump’s memorandum last week announcing his America First Trade Policy (AFTP) was issued to five federal departments...

USDA released the monthly Cattle on Feed report on Friday. The total inventory in feedlots of 1,000 head or more capacity was 11.8 million head, 99 percent...

The state of agriculture in Argentina and the loss of export competitiveness become clearer when examined through recent data. The official inflation rate...

There were modest volumes on this last trading day of the week, except in soymeal and cattle where the goal was to get out of the former and into the latte...

Export Sales and Shipments for January 10-16, 2025 Wheat: Net sales of 164,800 metric tons (MT) for 2024/2025 were down 68 percent from the previous week a...

Mar 25 Corn closed at $4.865/bushel, down $0.0325 from yesterday's close.  Mar 25 Wheat closed at $5.44/bushel, down $0.1 from yesterday's close. ...

U.S. Cattle on Feed for feedlots with capacity of 1,000 or more head totaled 11.8 million head on January 1, 2025 – down 1 percent from January 1, 20...

As Gary Blumenthal reported yesterday, the Senate Agriculture Committee held a confirmation hearing on the nomination of Brooke Rollins to be Secretary of...

TikTok is still operating but the tick tock on South American will eventually run out of time. Notable developments today included a lower open, but still...

Rollins Rolled Poised, confident, charming - USDA Secretary-Designate Brooke Rollins hit the trifecta today at her confirmation hearing before the Senate A...

Bullish feeder pig prices could signal an expected return to improved profitability for hog production later this year.   The 17 January Nationa...

Mar 25 Corn closed at $4.8975/bushel, up $0.055 from yesterday's close.  Mar 25 Wheat closed at $5.54/bushel, up $0 from yesterday's close.  Mar...

Except for soymeal and the livestock markets, the CBOT was lower on Wednesday with traders booking profits and taking a more cautious approach after the re...

Transatlantic Tariffication President Trump’s bromance with big tech billionaires has refocused his attention on Europe. The large penalties and regu...

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Russia’s wheat supplies may be tighter, but it is still not out of the market. Egypt's state grain buyer, Mostakbal Misr, is said to have made a &ldq...

Russian Grain Markets: 13 – 17 January 2025 Last week, the market woke up from the prolonged Christmas holidays and surprisingly remained bullish aga...

Livestock industry margins were decidedly mixed last week with diverging trends developing across the industry. Beef packer margins gained for the second s...

The first full day of the Trump Presidency saw CBOT grain futures surge as the U.S. dollar pulled back sharply. Corn, wheat, and soybeans all saw strong bu...

Shortly after his swearing-in as the 47th President of the United States, Donald Trump signed a slew of Executive Orders (EO) putting the wheels in motion...

 ...

Tariffs Hurt Ag, Help Oil? The President, aka “Tariff Man” pronounced at his inauguration that, “we will tariff and tax foreign countries...

The CFTC report was in line with expectations again as it showed funds engaged in the expected buying in corn and across the soy complex. Perhaps the bigge...

Mar 25 Corn closed at $4.8425/bushel, up $0.0975 from yesterday's close. Mar 25 Wheat closed at $5.3875/bushel, up $0.0125 from yesterday's close.&nbs...

Commodity markets retraced some of the losses from Thursday, ending higher on Friday but not necessarily for the week. Corn is on a roll, nearing heights n...

Please note that Monday, 20 January is a U.S. federal holiday in honor of the remarkable achievements of Martin Luther King, Jr. As a result, both the mark...

Monday is the Presidential Inaugural. This week has seen several Senate confirmation hearings on cabinet appointees.  Both the Republicans and Democra...

No Introspection: Joe Biden’s farewell address appears to have been written by a 25-year-old at the socialist leaning People’s Policy Project. He claims hi...

The rally in feeder cattle and calf prices from September 2024 through mid-January 2025 provided cow-calf producers with near-record profitability for the...

Futures took a weather break today. The rain slated for Argentina and southern Brazil this weekend doesn’t appear monumental, but something is better than...

The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) data for December yesterday. For the month, the CPI was up 0.4 percent, while...

Export Sales and Shipments for January 3-9, 2025Wheat: Net sales of 513,400 metric tons (MT) for 2024/2025 were up noticeably from the previous week and up...

Mar 25 Corn closed at $4.745/bushel, down $0.0425 from yesterday's close. Mar 25 Wheat closed at $5.375/bushel, down $0.095 from yesterday's close.&nb...

U.S. Soybean Crush Dynamics On Wednesday, National Association of Oilseed Processors (NOPA) said its members crushed an all-time record volume of soyb...

Mar 25 Corn closed at $4.7875/bushel, up $0.0425 from yesterday's close. Mar 25 Wheat closed at $5.47/bushel, up $0.0075 from yesterday's close. ...

The CBOT was mixed at mid-week and mostly continued its consolidation after the recent WASDE-derived surprises. Corn futures pushed higher with stronger sp...

Squeezing Russia with WheatEurope is afraid that Donald Trump is ready to capitulate to Vladimir Putin next week when he becomes president. But Trump has a...

Russian Grain Markets: 6 – 10 January 2025Traditionally during a prolonged holiday season, which in Russia does not coincide with the holiday season in mos...

The CBOT turned mostly lower on Tuesday as the excitement from the bullish WASDE faded. Traders now see the corn and soybean yield and production cuts as f...

Producer price inflation (PPI) ended 2024 up 0.2 percent in December. That is a modest gain and was below pre-report expectations. Nonetheless, the PPI was...

Mar 25 Corn closed at $4.745/bushel, down $0.02 from yesterday's close. Mar 25 Wheat closed at $5.4625/bushel, up $0.0125 from yesterday's close. ...

Brazil is the second largest producer and use of ethanol after the U.S. The U.S. has an import tariff on ethanol of 2.5 percent ad valorem and has asked Br...

Tariff Adjustment /MuskRecognizing the inflation threat of sudden and large import tariffs, Donald Trump’s economic team: Scott Bessent (Treasury), Kevin H...

MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGIONSyria has been added to Ukraine’s list of countries eligible for assistance under the “Grain from...

Livestock industry margins were broadly higher last week with the one exception being placement margins for feedlots and closeout margins for farrow-to-fin...

There were really no surprises in this week’s CFTC report, which was delayed one day due to the national day of mourning for President Carter, as funds’ ac...

The CBOT saw more bullish influences on Monday from Friday’s WASDE report in which USDA slashed the 2024 U.S. corn and soybean yields. After considering th...

President-elect Trump’s inauguration is in one week. In the meantime, the Senate will soon start confirmation hearings on several of his cabinet nominees...

Greedflation’s WeaknessesThe U.S. government is suing apartment owners for using RealPage software algorithms for setting rents. The grocery industry may b...

Trade WarPost the November U.S. election, the focus has been on preparing for an inevitable trade war with the U.S. China has increased government reserve...

Mar 25 Corn closed at $4.765/bushel, up $0.06 from yesterday's close. Mar 25 Wheat closed at $5.45/bushel, up $0.1425 from yesterday's close. Mar...

WheatWith week-on-week progress of 3.5 percentage points, Argentina’s wheat harvest has reached 98 percent of the area and is nearing completion. Total pro...

Regional News Last week, the Balkans and Ukraine saw unseasonably warm weather with moderate rainfall while Russia saw cold weather with light precipi...

This last trading day of the first full trading week of 2025 came in like a whimper and went out with a bang. The trading day started with a notably sub-pa...