Sorghum marketers often characterize their commodity as an ancient grain that is drought tolerant. They deflect comments that it is an orphan crop, grown l...

Regional News Eastern Ukraine and southern Russia remain unseasonably warm and dry, though the regions received beneficial rains at the end of last we...

Once again, the major finding of Friday’s CFTC report is that funds still remain solidly bullish corn and added another 7 percent to their long position in...

U.S. Cattle on Feed for slaughter in feedlots with capacity of 1,000 or more head totaled 12.0 million head on November 1, 2024. Placements in feedlot...

There were some jitters this week as Russia and Ukraine stepped up assaults ahead of what may become talks to end the conflict. Alongside concerns about a...

USDA released the monthly Cattle on Feed report today. Once again, placements surprised to the upside compared to pre-report analysts’ consensus expectatio...

Dec 24 Corn closed at $4.255/bushel, down $0.0125 from yesterday's close. Mar 25 Wheat closed at $5.6475/bushel, down $0.0475 from yesterday's close.&...

The latest updates and model runs from WPI’s grain balance sheet and pricing forecasts show that corn and wheat are likely to see stronger-than-expected de...

Export Sales and Shipments for November 8-14, 2024. Wheat: Net sales of 549,600 metric tons (MT) for 2024/2025 were up 45 percent from the previous we...

The CBOT was mostly lower for the day with corn, wheat, and the entire soy complex finding their way into the red for various reasons. Wheat initially rall...

The monthly Cattle on Feed report will be released tomorrow. Analysts’ pre-report consensus estimates are for the total inventory on feed to be 100 percent...

Dec 24 Corn closed at $4.2675/bushel, down $0.035 from yesterday's close. Mar 25 Wheat closed at $5.695/bushel, down $0.0275 from yesterday's close.&n...

The MarketDespite a decent USDA Export Sales report, the market continues to be weighed down by the large developing South American soybean crop. Soybean p...

The Thanksgiving holiday isn’t until next week, but the CBOT is starting to feel like traders are taking their vacation time a little early. Trading volume...

And we don’t mean Türkiye. Turkey can mean unsuccessful and the production and trade in the domesticated large bird called the turkey leaves much to be des...

Dec 24 Corn closed at $4.3025/bushel, up $0.03 from yesterday's close. Dec 24 Wheat closed at $5.525/bushel, up $0.0275 from yesterday's close. J...

Russian Grain Markets: 11 – 15 November 2024Russian Union of Grain producers and exporters announced that winter wheat area for 2025/26 may drop to 15.4 Mh...

The CBOT saw distinctly mixed trade with price action being largely determined by one of two factors: either bullishness from Ukraine’s attack on interior...

The G20 meets in Rio de Janeiro this week, and Presidents Luiz Inacio “Lula” da Silva of Brazil and Xi Jinping of China have a bilateral side meeting on th...

Farm Bill DeficienciesU.S. Senate Democrats have finally laid down their marker in a bicameral negotiation over a farm bill renewal. In it, Democrats conce...

Dec 24 Corn closed at $4.2725/bushel, down $0.02 from yesterday's close. Dec 24 Wheat closed at $5.4975/bushel, up $0.025 from yesterday's close. ...

MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGIONEgypt’s strategic wheat reserves are at 4.6 months. This is a little lower than usual due to dela...

Livestock margins continue to be characterized by weakness in the packing sector and strength in producer profitability. Last week, both beef and pork pack...

With the Republicans maintaining control of the House, Representative G.T. Thompson (R-PA) will retain the gavel as committee chairman, unless he is nomina...

Wheat The wheat harvest in Argentina is progressing at a steady pace. Last week, the harvested area share increased by 5 percentage points, bringing t...

The CBOT was mostly higher to start the week with markets reacting to Friday’s CFTC data as well as news that will impact the Ukraine-Russia war. First, th...

Dec 24 Corn closed at $4.2925/bushel, up $0.0525 from yesterday's close. Dec 24 Wheat closed at $5.4725/bushel, up $0.1075 from yesterday's close.&nbs...

RFK, Jr. Equals OpportunityRobert F. Kennedy, Jr. wants to eliminate processed foods, artificial colorings, chemicals, and other broadly named boogeymen. H...

Regional News Last week, the European Parliament voted on the EUDR regulation and officially delayed the full implementation of the ruling until Decem...

The major finding of Friday’s CFTC report is that funds are increasingly and somewhat aggressively bullish corn as they rapidly expanded a small long into...

Corn, soymeal, live cattle and lean hogs all traded lower during the morning start but by the end of the day, only lean hogs ended lower. There were modest...

Export Sales and Shipments for November 1-7, 2024. Wheat: Net sales of 380,100 metric tons (MT) for 2024/2025 were up 1 percent from the previous week...

Despite recent decreases in feeder cattle futures and rising feedstuff costs, estimated cow-calf producer margins are largely unchanged from WPI’s October...

Dec 24 Corn closed at $4.24/bushel, up $0.05 from yesterday's close. Dec 24 Wheat closed at $5.365/bushel, up $0.0625 from yesterday's close. Jan...

McDonalds has entered the sustainability space by partnering with Syngenta and paying cattle producers to use Syngenta’s Enogen Trait corn to improve feed...

Turkey production in August totaled 434.7 million pounds, slightly above July production but down 11 percent year-over-year. August slaughter was down 15 p...

The CBOT saw another day of pronounced weakness with expectations for larger global soybean and wheat production and stocks in 2025 weighing on values. Pro...

The MarketThe January soybean contract has been sliding all week and despite support at the 20-day moving average of $10.01/ST, it closed today below $10/b...

Dec 24 Corn closed at $4.19/bushel, down $0.075 from yesterday's close. Dec 24 Wheat closed at $5.3025/bushel, down $0.1075 from yesterday's close.&nb...

The CBOT was essentially all red on Wednesday with traders finding little support from either the fundamental or technical components of commodity price an...

As part of its witch hunt for unfair market practices, the EU Parliament’s AGRI Committee requested a study of the major agricultural commodity trading com...

While oilseeds receive much of the attention, tree nuts, which are technically a seed and containing oil, have gone even more gangbusters for U.S. producer...

Dec 24 Corn closed at $4.265/bushel, down $0.02 from yesterday's close. Dec 24 Wheat closed at $5.41/bushel, down $0.1125 from yesterday's close. ...

Russian Grain Markets: 4 – 8 November 2024We have heard the voices from various sources forecasting a new grain crop in Russia and most of them differ in n...

The CBOT was almost uniformly in the red on Tuesday with any bullish supply-side implications from the November WASDE largely forgotten (or ignored) amid b...

Some in the U.S. agriculture community have spent years trying to improve sales to Cuba, which have increased though from a very small base. Now there is e...

Trump’s Tariff PlanFew things attract more speculation than how President-Elect Donald Trump will model his plan to increase tariffs on imports. Some econo...

After the 2024 elections, the Republicans look to have taken control of Congress, along with a Trump victory, providing a Republican triple sweep. The Sena...

Dec 24 Corn closed at $4.285/bushel, down $0.015 from yesterday's close. Dec 24 Wheat closed at $5.5225/bushel, down $0.1325 from yesterday's close.&n...

Regional UpdatesMEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGIONPakistan has decided to allow the importation of GMO soybeans from the U.S. – cri...

WPI is excited to present the latest edition of our newest data-driven publication Ag Perspectives Quant: U.S. Livestock Industry Profit Margins. This repo...

The November WASDE offered mixed influences for the major ag markets with USDA making surprise cuts to the U.S. corn and soybean crops and ending stocks, w...

Deep Bench to Fight RFKBeing the U.S. Secretary of Agriculture is usually a pretty good job. It involves doling out billions of dollars, the constituency i...

Last year, India restricted non-Basmati rice exports believing there would be a weather-related short supply. Production was ample and now the country face...

As WPI noted a week ago on 4 November, As a general rule, a Republican agenda is likely to be friendlier to liquid fuels, especially petroleum fuels,...

Dec 24 Corn closed at $4.3/bushel, down $0.01 from yesterday's close. Dec 24 Wheat closed at $5.655/bushel, down $0.07 from yesterday's close. Ja...

Wheat As of the end of the first week of November, 12 percent of Argentina’s sown wheat area has already been harvested. Harvesting is progressing qui...

The major finding of Friday’s CFTC report was the confirmation that funds have officially flipped their formerly massive net short in corn to a net long. A...

The November WASDE report usually involves some tweaking of the numbers by USDA, and that is all it mostly was today, but with some quirky impacts. First,...

As most Presidents-elect do, former President and President-elect Donald Trump has named his new White House Chief of Staff as his first appointment. It is...

Dec 24 Corn closed at $4.31/bushel, up $0.035 from yesterday's close. Dec 24 Wheat closed at $5.725/bushel, up $0.01 from yesterday's close. Jan...

WASDE Soybeans – USDA’s latest November estimate for the 2024/25 season is a decrease of 80 million bushels in U.S. soybean ending stocks to 470 million bu...

WASDE Corn – USDA’s latest November estimate for the 2024/25 season is a decrease in U.S. corn ending stocks to 1.938 billion bushels. The season-average c...

WASDE Wheat – USDA’s latest November estimate for the 2024/25 season is for an increase in U.S. wheat ending stocks by 3 million bushels to 815 million, up...

U.S. hog producers saw a mixed year in 2024 with early-year prices bringing poor profitability while the dramatic hog rally since the summer has lifted fin...

The CBOT was mixed on Thursday following the news of Donald Trump’s election to President of the United States with markets, particularly corn and cattle f...

Transatlantic Trade WarU.S. equity markets rose yesterday on news of Donald Trump’s victory, while shares in Europe fell. The EU is America’s biggest tradi...

Little to no action has been reported in the cash markets and asking prices are back at $190/cwt and higher. Cattle supply numbers are tighter in the south...

Dec 24 Corn closed at $4.275/bushel, up $0.0125 from yesterday's close. Dec 24 Wheat closed at $5.715/bushel, down $0.0175 from yesterday's close.&nbs...

Export Sales and Shipments for October 25-31, 2024.Wheat: Net sales of 374,700 metric tons (MT) for 2024/2025 were down 9 percent from the previous week an...

The MarketThe January soybean contract is up 3.2 percent on the week and has is now up 3.5 percent from its late October low at 979/bushel, but it is still...

Outside markets closed higher and the dollar was up, but not because of bullishness over Mr. Trump’s victory. The business sector likes his pledge for lowe...

Dec 24 Corn closed at $4.2625/bushel, up $0.0775 from yesterday's close. Dec 24 Wheat closed at $5.7325/bushel, up $0.0075 from yesterday's close.&nbs...

The political establishment in Washington is stunned following yesterday's rout by Donald Trump and the Republicans. The Democrats’ arch nemesis not only s...

The polling for the 2024 U.S. Presidential election had significant forecast errors and history will likely judge the numbers as “wrong”. While it’s hard t...

Russian Grain Markets: 28 October – 1 November 2024Russian analysts revised the 2024 Russian crop downwards to 128.8 MMT without newly occupied territories...

It’s election day in the U.S. and the nation will decide on new leadership for the White House and Congress, though results may not be available for days o...

After the votes are fully counted, as a new Administration forms, and Congress organizes, WPI will take a deeper look into the policy implications of today...

EU Confirmation HearingsIn a few months, it will be the turn of either Donald Trump or Kamala Harris’s cabinet nominees to seek confirmation by the legisla...

Dec 24 Corn closed at $4.185/bushel, up $0.02 from yesterday's close. Dec 24 Wheat closed at $5.725/bushel, up $0.0375 from yesterday's close. Ja...

Regional UpdatesMEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGIONTunisia will shortly receive a shipment of 33,000 MT of U.S. corn, the first ship...

WPI is excited to present the second edition of our newest data-driven publication Ag Perspectives Quant: U.S. Livestock Industry Profit Margins. This repo...

The CBOT was mostly higher to start the week with fresh daily export sales announcements and a solid Export Inspections report underpinning the day’s moves...

Tomorrow is election day; the make-up of Congress and who is in the White House is expected to have an impact on renewable fuel policy in 2025. As a genera...

Transatlantic InverseDepending on tomorrow’s election outcome, American businesses will either be saddled with more taxes, regulations, and attacks on cons...

Dec 24 Corn closed at $4.165/bushel, up $0.02 from yesterday's close. Dec 24 Wheat closed at $5.6875/bushel, up $0.0075 from yesterday's close. J...

Wheat The long-awaited rains have finally arrived in southeastern Buenos Aires, with precipitation totals ranging from 20–50 mm. While the rainfall is...

Regional News Algeria bought 600 KMT of wheat in its tender that closed on Monday, buying the full volume permitted, and prices are rumored to be near...

Through 29 October, funds continued their aggressive short covering in the corn market with strong export sales justifying the move. Funds reduced their ne...

State Directed MeatUSDA has been issuing loans and grants to startup livestock businesses with the goal of diversifying the industry, providing producers w...

Except for soymeal, the rest of the grains and oilseeds contracts traded higher in the overnight, and opened higher this morning, but only corn and soyoil...

Dec 24 Corn closed at $4.145/bushel, up $0.0375 from yesterday's close. Dec 24 Wheat closed at $5.68/bushel, down $0.025 from yesterday's close. ...

The Bureau of Labor Statistics (BLS) released the October jobs report this morning.  Total nonfarm payroll employment was essentially unchanged in Oct...

The three legs of the U.S. soybean crush have each seen interesting and divergent dynamics over the past month that have influenced the crush margin outloo...

The CBOT was mixed for the day with wheat futures sinking lower after the HRW and SRW growing regions received favorable rains Wednesday and early Thursday...

The MarketJanuary soybeans have now rebounded a second day in a row after opening the week lower. While it came within 10-cents of the contract low, export...

Dec 24 Corn closed at $4.1075/bushel, down $0.0075 from yesterday's close. Dec 24 Wheat closed at $5.705/bushel, down $0.0275 from yesterday's close.&...

Export Sales and Shipments for October 18-24, 2024. Wheat: Net sales of 411,400 metric tons (MT) for 2024/2025 were down 23 percent from the previous...

Broiler slaughter was 158.86 million head last week, up from 158.139 million the week before and continuing to run above a year ago.  Broiler producti...

The CBOT was mixed in moderate-volume trade on Wednesday with markets across the board seeing impacts from end-of-month position adjusting and profit takin...

Misdirected FireThe Kamala Harris campaign is frustrated that the economy is hot, inflation has dissipated to just 2.4 percent, and yet voters are not feel...

Dec 24 Corn closed at $4.115/bushel, down $0.0225 from yesterday's close. Dec 24 Wheat closed at $5.7325/bushel, up $0.0275 from yesterday's close.&nb...

Russian Grain Markets: 21 – 25 October 2024The Russian grain markets remained stable on the export front and slightly bearish after recent peaks. Domestic...

The CBOT was mostly higher on Tuesday with the wheat market in the lead on worrying crop conditions and persistent drought in the HRW growing region. USDA’...

WPI is excited to present a new, weekly, data-driven publication Ag Perspectives Quant: U.S. Livestock Industry Profit Margins. This report offers a compre...

The Fed meets next week, the day after the election. It looks likely there will be a rate cut again for the second time in as many meetings. The federal fu...

The EU’s dependency on the U.S. for both defense and economic well-being has focused discussions in Brussels on what the relationship will look like should...

Dec 24 Corn closed at $4.1375/bushel, up $0.03 from yesterday's close. Dec 24 Wheat closed at $5.705/bushel, up $0.1175 from yesterday's close. N...

Regional UpdatesMEDITERRANEAN, MIDDLE EAST, NORTH AFRICA, and AFRICA – MEA REGIONTurkey’s wheat production is seen dropping by 5.5 percent to 20.8 MMT acco...

The CBOT was mostly lower for the day with the sharp decline in crude oil futures dragging soyoil, the broader soy complex, and corn and wheat lower. There...

Newsome for PresidentUntil this past Friday, U.S. ethanol producers feared that the California Air Resources Board (CARB) might make an effort to limit the...

Dec 24 Corn closed at $4.1075/bushel, down $0.045 from yesterday's close. Dec 24 Wheat closed at $5.5875/bushel, down $0.1025 from yesterday's close.&...

There are often lags in time between when consumers notice a change in the economy, they begin to voice concerns, politicians begin to echo those concerns,...

With the election one week from tomorrow, many aggies are turning their attention to the probable role of Robert F. Kennedy Jr. in a Trump Administration s...

Regional News Russia’s winter crops may see 1.5 million hectares (Mha) go unseeded this year due to poor weather in key growing regions. Originally, 2...

Weather Argentina saw continued rainfall throughout last week and so far during October, nearly all of the country’s agricultural regions experienced...

Through 22 October, funds engaged in the expected short covering in the corn market amid the unexpected surge in exports. Funds’ total buying volume, howev...

Yesterday’s bullish Export Sales report was followed by more sales of corn and soybeans today. However, there had already been sufficient gains in the futu...

USDA released the monthly Cattle on Feed report today, which was mostly in line with pre-report expectations; only placements came outside of the consensus...

Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 11.6 million head on Octob...