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Market Commentary: Export Sales, Weather Mix the Markets

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 washouts in old crop sales leading to a marketing year low, but new crop sales going blockbuster as Guatemala, Mexico and Panama all sought coverage. There may some issue with recent Panama numbers. Corn was a bright spot with old crop sales higher and exports above the prior four-week average. Corn sales are up 25 percent over the prior year, but actual exports will be watched in upcoming weeks for any undermining by South America. From there it was downhill for the soy complex, beef and pork, the latter hitting its marketing year low. 

  While wheat traded lower, it continu...

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WASDE Corn - Mar 2026

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WASDE Wheat - Mar 2026

USDA’s outlook for 2025/26 U.S. wheat supply and use categories are unchanged from last month. Global supplies increased modestly by 0.2 million tons to 1,101.8 million and global ending stocks remain at a 5-year high. The result is that the average U.S. farm price is adjusted up modestly...

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WASDE Soybeans - Mar 2026

USDA’s outlook for 2025/26 U.S. soybeans had increased imports and crush, but ending stocks remained unchanged from last month.  The average annual soybean price is projected unchanged at $10.20 per bushel. The soybean meal price is increased by $5 per short ton to $300. The soybean...

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WASDE Corn - Mar 2026

USDA’s outlook for 2025/26 U.S. corn outlook is unchanged from last month. Global corn ending stocks increased by 3.8 million metric tons to 292.8 million. The season-average corn price received by U.S. producers is unchanged at $4.10 per bushel...

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WASDE Wheat - Mar 2026

USDA’s outlook for 2025/26 U.S. wheat supply and use categories are unchanged from last month. Global supplies increased modestly by 0.2 million tons to 1,101.8 million and global ending stocks remain at a 5-year high. The result is that the average U.S. farm price is adjusted up modestly...

feed-grains soy-oilseeds wheat

Market Commentary: Easing But Not Ending Novelty and Risk

There were more modest volumes trading in today’s session, perhaps reflecting growing resilience and circumspection about geopolitical uncertainties. The trade has had an ample opportunity to react to the modest changes in USDA’s March WASDE report, and there is still plenty of expe...

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From WPI Consulting

Weighing in on strategic realignment

WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.

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