World Perspectives
feed-grains soy-oilseeds wheat

Market Commentary: CBOT Crashes as Short Covering Rally Ends; Uncertainty is the only Certainty

The CBOT ended a volatile week with an exceptionally volatile day that included wheat settling 75 cents lower at the bottom of its expanded daily trading limits. Corn and soybeans posted heavy losses as well after Russian President Putin agreed to meet with the Ukrainian government. The news was taken as a sign of a change in Russia’s aggressive approach and sent global markets quickly reversing this week’s trade. Crude oil and grain markets fell sharply while stocks rallied, and the U.S. dollar gave back 59 bps of this week’s gains.  The CBOT’s latest open interest data suggests Thursday’s rally was largely due to liquidation of short positions amid an intensifying short squeeze. Open interest in corn fu...

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feed-grains soy-oilseeds wheat

Market Commentary: Oil Volatility Drives CBOT More than WASDE

Usually, the day USDA releases its monthly world supply and demand report – known colloquially as “WASDE day” – sees heightened volatility in CBOT ag futures. That was true again Tuesday, though there was little causal connection between the WASDE and the market’s...

feed-grains soy-oilseeds wheat

Summary of Futures

May 26 Corn closed at $4.5225/bushel, down $0.015 from yesterday's close.  May 26 Wheat closed at $5.91/bushel, down $0.1225 from yesterday's close.  May 26 Soybeans closed at $12.0175/bushel, up $0.055 from yesterday's close.  May 26 Soymeal closed at $314.5/short ton, up $1 fro...

Economic Outlook for 2026

The January jobs report surprised to the upside, coming in at 172,000 new jobs, well above the consensus expectation of 68,000. However, the February report showed jobs falling by 86,000, far off the consensus expectation of a gain of 60,000. This loss was driven by education, leisure and hospi...

feed-grains soy-oilseeds wheat

Market Commentary: Oil Volatility Drives CBOT More than WASDE

Usually, the day USDA releases its monthly world supply and demand report – known colloquially as “WASDE day” – sees heightened volatility in CBOT ag futures. That was true again Tuesday, though there was little causal connection between the WASDE and the market’s...

feed-grains soy-oilseeds wheat

Summary of Futures

May 26 Corn closed at $4.5225/bushel, down $0.015 from yesterday's close.  May 26 Wheat closed at $5.91/bushel, down $0.1225 from yesterday's close.  May 26 Soybeans closed at $12.0175/bushel, up $0.055 from yesterday's close.  May 26 Soymeal closed at $314.5/short ton, up $1 fro...

Economic Outlook for 2026

The January jobs report surprised to the upside, coming in at 172,000 new jobs, well above the consensus expectation of 68,000. However, the February report showed jobs falling by 86,000, far off the consensus expectation of a gain of 60,000. This loss was driven by education, leisure and hospi...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean, and Africa Regional Analysis

Mediterranean/Middle East/North Africa/Africa – MEA Region Middle Eastern countries have imported an average of close to 29 million MT of grains and feed products per year over the past five years according to an Ag Perspectives report. These include wheat, corn, barley, soybeans, soymeal...

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