U.S. wheat futures markets continue to trade in a relatively narrow range that is also near the bottom of a longer term-range (see the Chicago wheat chart below).
Wheat markets should eventually break out of this bearish pattern for a number of fundamental reasons. USDA has been very slow to reduce 2018 world wheat production even though virtually every private analyst and several foreign government groups are using smaller numbers. It did make a few minor adjustments in yesterday’s reports, but those are still not enough (in our opinion). The table below compares USDA’s 2017/18 numbers for the major wheat-exporting countries with its forecast and that of WPI for 2018/19.
WPI’s lower production and export numbers for...
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 reached a record 1.434 billion pounds. The latest data reinforces the strength of renewable fuel demand and helps explain ongoing investment in a...
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 Agriculture Committee Chair GT Thompson (R-Pennsylvania) requesting that $5 billion of the temporary economic assistance for farmers go toward spec...
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 45Z policy clarity in February 2026 has supported stronger soyoil demand from the biofuel sector by providing producers with greater certainty...
