World Perspectives
soy-oilseeds

U.S. Soybean Crush Margin Outlook

The recent strength in U.S. soyoil and soymeal prices has helped push “board” crush margin (i.e., the margin implied or calculated by CBOT futures contracts) to new highs with the VVX margin hitting $1.62/bushel and the HHH margins topping the $1.45 mark for the first time in over a year. The recent surge follows historically strong margins that have persisted for most of MY 2023/24. The profitability offered by the crush margin has been one major factor driving the record-high soybean crush program this year. 

The U.S. soybean crush now accounts for about 54 percent of the total annual use, making examination of processing margins and how they will drive the crush sector’s demand germane for soybean demand and pri...

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feed-grains soy-oilseeds wheat

Summary of Futures

May 26 Corn closed at $4.52/bushel, up $0.0325 from yesterday's close.  Jul 26 Wheat closed at $6.06/bushel, up $0.0675 from yesterday's close.  May 26 Soybeans closed at $11.6575/bushel, down $0.015 from yesterday's close.  Jul 26 Soymeal closed at $321.2/short ton, down $6 from...

feed-grains soy-oilseeds wheat

Mercosur Regional Analysis

Argentina Corn Rains continued across Argentina’s core agricultural regions, with additional heavy accumulations keeping rural roads largely impassable and further slowing the corn harvest. Harvest progress remains limited at approximately 3 percent per week. At the same time, farmers are...

feed-grains soy-oilseeds wheat

CFTC COT Report Analysis

Friday’s CFTC report showed funds paring back their net long position across the major ag futures contracts for the second straight week as signs of hope in the Middle East triggered an exit of geological “risk on” trades from commodity markets. Funds sold 40,000 contracts (4...

feed-grains soy-oilseeds wheat

Summary of Futures

May 26 Corn closed at $4.52/bushel, up $0.0325 from yesterday's close.  Jul 26 Wheat closed at $6.06/bushel, up $0.0675 from yesterday's close.  May 26 Soybeans closed at $11.6575/bushel, down $0.015 from yesterday's close.  Jul 26 Soymeal closed at $321.2/short ton, down $6 from...

feed-grains soy-oilseeds wheat

Mercosur Regional Analysis

Argentina Corn Rains continued across Argentina’s core agricultural regions, with additional heavy accumulations keeping rural roads largely impassable and further slowing the corn harvest. Harvest progress remains limited at approximately 3 percent per week. At the same time, farmers are...

feed-grains soy-oilseeds wheat

CFTC COT Report Analysis

Friday’s CFTC report showed funds paring back their net long position across the major ag futures contracts for the second straight week as signs of hope in the Middle East triggered an exit of geological “risk on” trades from commodity markets. Funds sold 40,000 contracts (4...

livestock

Cattle on Feed - April 1 2026

U.S. cattle on feed totaled 11.6 million head on April 1, 2026, 1 percent below April 1, 2025.  Placements in feedlots during March totaled 1.71 million head, 7 percent below 2025.  Marketings of fed cattle during March totaled 1.63 million head, 6 percent below 2025.  Other disa...

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From WPI Consulting

Communicating importance of value-added products

Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.

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