Beef packer margins improved to -$200/head last week, up $57 from the prior week as the Choice cutout strengthened while fed cattle prices moved lower. The...
Articles
Market Commentary: Bears Control CBOT at Least Until Weather Market Forms
What You Need to Know Today: U.S. Treasury Secretary Bessent said Friday that the U.S. has seized $1b of Iranian crypto assets. Iran’s IGGC sa...
WPI Crop Progress and Conditions App (Updated 1 June)
Developer's Note: Last year, users pointed out differences between the 5-year averages reported in this app and what USDA estimates in its weekly rep...
Key Factors that Sparked Brazil’s Growth into an Agricultural Powerhouse
Key Takeaways: Acidity: Brazil’s agricultural production rose significantly after agricultural researchers were able to reduce soil acidity in the Ce...
Summary of Futures
Jul 26 Corn closed at $4.44/bushel, down $0.0275 from yesterday's close. Jul 26 Wheat closed at $6.0875/bushel, down $0.0175 from yesterday's close.&...
Game of Chicken; Turnberry Precedent
Game of Chicken The U.S. and Mexico just completed an initial round of bilateral negotiations leading up to completing a joint review of the U.S. Mexico Ca...
Poultry and Egg Markets Weighed Against HPAI
From the monthly cold storage report it is interesting to look at the poultry numbers and changes due to HPAI that has been plaguing the sector to some deg...
Mercosur Regional Analysis
Argentina Export Tax Reform The Argentine government announced a new long-term schedule for reducing export taxes ("retenciones"), one of the main policy t...
CFTC COT Report Analysis
Friday’s CFTC report showed funds reducing net long positions across most of the major ag futures contracts for the third straight week. Funds reduce...
Market Commentary: Risk-off tone hits grains and livestock
What You Need to Know Today: Agricultural commodities were mostly lower on the day, with red-hot soyoil a notable exception. Export sales were a bit unde...
Commodity Policy Being Shaped by Unfolding Farm Crisis
With the war in Iran affecting fuel and fertilizer prices, higher tariffs, weak commodity prices, ag labor constraints, and other factors, farm bankruptcie...
Summary of Futures
Jul 26 Corn closed at $4.4675/bushel, down $0.09 from yesterday's close. Jul 26 Wheat closed at $6.105/bushel, down $0.135 from yesterday's close.&nb...
Food Inflation; Last Laugh; MAHA Progress; Offense is Defense
Food Inflation The Open Markets Institute, which is notably funded by several “anonymous” donors and liberal foundations, obtained a guest edit...
Foodflation Coming Home
Since the closure of the Strait of Hormuz in February 2026, energy markets have experienced significant disruptions. Crude oil, diesel fuel, and other petr...
U.S. and Global Soy Crush Forecasts
WPI recently completed an expansion of our methodology for estimating and forecasting U.S. and global soybean crushing margins. The new approach incorporat...
Market Commentary: Grains and oilseeds see strength on high PCE reading, Crude oil and macros remain topsy-turvy with U.S.-Iran headline risk
What You Need to Know Today: The U.S. struck Iranian military targets for the second time this week. During a cabinet meeting, President Trump said...
Summary of Futures
Jul 26 Corn closed at $4.5575/bushel, up $0.0325 from yesterday's close. Jul 26 Wheat closed at $6.24/bushel, up $0.015 from yesterday's close. ...
Livestock Roundup: More Dairy Cow Slaughter Later This Year
A total of 79,000 cows has been added to the dairy herd since last December, which compares to 81,000 head added to the dairy herd over the same period in...
Responsible Use of AI; Ukraine and CAP Money
Responsible Use of AI WPI does not have an encyclical on AI but since it employs real human analysts there is a view towards the technology. In short, it i...
Transportation Perspectives - 28 May
Dry bulk markets are steady/firmer this week with Capes leading the rally and, on the other end of the vessel size spectrum, strong grain demand supporting...
Livestock Industry Margins
Beef packer margins improved to -$257/head last week, up $39 from the prior week as the Choice cutout strengthened while fed cattle prices eased. The cutou...
Market Commentary: Trading Headlines, Pricing Risk
Key Market Insights Today was another reminder that this market is trading headlines first, facts second. Early optimism surrounding reports of a possible...
Producers' Share of Beef Value Up, Packer Margins Down
Key Takeaways: Cattle producers are currently capturing a greater proportion of total retail beef values amid tight cattle supplies. Packers are for...
Summary of Futures
Jul 26 Corn closed at $4.525/bushel, down $0.05 from yesterday's close. Jul 26 Wheat closed at $6.225/bushel, down $0.13 from yesterday's close. ...