Livestock China’s Live Hog Price Up Nearly 22 Percent According to the National Development and Reform Commission (NDRC), the first state procurement...

Russian Grain Markets: 28 June-2 July 2021 The domestic Russian grain market kept switching to the prices of 2021 yield, so prices decreased, especially dr...

THE OPEN November beans:  15 higher December meal:  4.40 higher December soyoil:  10 higher December corn:  9 lower December wheat:&nbs...

Good Morning, Overnight prices featured a technical rebound in the soy complex while grains were slightly firmer.   Prices should begin to find s...

SPREADS August crush trades to 96.23c/bu while oilshare trades to 45.66%.  July/Dec corn inverse trades to 1.24 1/2c, while the Sep/Dec inverse trades...

The CBOT collapsed on Tuesday with corn locked limit-down shortly after the opening bell and soybeans flirting with limit-down moves all day. Wheat futures...

Name Calling One Slammed by the lower cost of related catfish subspecies imported from Vietnam and China, U.S. catfish farmers have tried various approache...

Dec 21 Corn closed at $5.3975/bushel, down $0.4 from yesterday's close.  Sep 21 Wheat closed at $6.26/bushel, down $0.2675 from yesterday's close.&nbs...

The Courts have handed another blow to biofuel producers. On Friday, the U.S. Court of Appeals for the DC Circuit struck down the Trump Administration's EP...

The EU’s provisional agreement last week on changes to the Common Agricultural Policy envisions farmers setting aside 3 percent of their arable land...

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  The Moroccan Government has increased its estimate of the grain crops as a result of very goo...

Note: The CBOT/CME markets are closed Monday, 5 July 2021 for the U.S. Independence Day holiday.  CBOT trade was expectedly quiet heading into the lon...

This weekend marks a major demand for transportation fuel of all sorts, from gasoline to jet fuel. This Fourth of July weekend is projected to be the bigge...

Dec 21 Corn closed at $5.7975/bushel, down $0.0925 from yesterday's close.  Sep 21 Wheat closed at $6.5275/bushel, down $0.1275 from yesterday's close...

Please note that Ag Perspectives will not be published Monday, 5 July in observance of the Fourth of July holiday in the U.S. We will resume our normal rep...

In the U.S. the battle for planting area is between corn and soybeans but in Europe it appears to be between rapeseed and soybeans. In recent years, the ar...

Days like yesterday are always interesting but so was today’s market action in its own quirky way. The expectation was follow-through after some limi...

Dec 21 Corn closed at $5.89/bushel, up $0.005 from yesterday's close.  Sep 21 Wheat closed at $6.655/bushel, down $0.14 from yesterday's close. ...

Yesterday’s USDA acreage report was decidedly less friendly to the outlook for livestock than it was to corn and soybeans as it not only provided no...

"Rut Ro" Trade In the animated television series Scooby-Doo from the early 1970’s, the talking dog star of the show called Scooby-Doo warned of dange...

Positive U.S. Soybean and Soymeal Export Sales Last Week Today’s USDA export sales report indicated exporters made very large sales of soybeans last...

THE OPEN Nov. beans:  14 higher Dec meal:  5.70 higher Dec soyoil:  125 pts higher Dec corn:  19 higher Dec wheat:  9 1/2 higher T...

Wheat:  Net sales of 226,300 metric tons (MT) were reported for delivery in marketing year 2021/2022.   Corn:  Net sales of 15,000 MT f...

SPREADS August crush trades to 1.07c/bu while oilshare trades to 45.92%.  August/Nov beans trades from 31c from a high of 40 3/4c inverse.  Sep/D...

GOOD MORNING, The USDA report sent prices sharply higher yesterday and the market will need a few days to digest the numbers.  Charts did a sharp U-tu...

USDA surprised the market with bullish Grain Stocks and Acreage reports that sent futures sharply higher by Wednesday’s close. Grain stocks were well...

Corporate Good Following the Great Financial Crisis and continuing with the far left “Squad” in the U.S. Congress, capitalism has been under at...

Market analysts over-estimated planted acres ahead of the March Planting Intentions Report and they did it again ahead of the June Acreage Report. The mark...

Dec 21 Corn closed at $5.485/bushel, up $0.0125 from yesterday's close.  Sep 21 Wheat closed at $6.4625/bushel, down $0.0525 from yesterday's close.&n...

Livestock Live Hog Price Reverses Slide, Ticks Up 2.5 Percent The national average domestic hog price saw a solid recovery last week after 20 straight week...

THE OPEN November beans:  7 lower December meal:  2.20 higher December soyoil:  88 lower December corn:  12 1/2 lower December wheat:&n...

Russian Grain Markets: 21-25 June 2021 Harvesting was the main factor impacting the prices on the Russian grain market. Export milling wheat average price...

WPI's monthly publication features a review of the past month's market and policy analysis articles. This month we examine the commodities boom, policies i...

GOOD MORNING, Today's price action will be guided by the June 30 Stocks/Acreage report.   Trading ranges are confirmed, and though the night trad...

SPREADS August crush trades to 1.13c/bu while oilshare trades to 46.54%.  Jul/Nov bean inverse sits at 46 1/4c to 49 3/4c, while August/Nov firms to 2...

The CBOT was expectedly mixed ahead of first notice day and the USDA’s two major reports tomorrow. Traders were adjusting positions and paring back r...

Greening Agriculture Washington and Brussels share the goal of reducing greenhouse gas emissions but are taking two very different approaches when it comes...

Dec 21 Corn closed at $5.485/bushel, up $0.0125 from yesterday's close.  Sep 21 Wheat closed at $6.4625/bushel, down $0.0525 from yesterday's close.&n...

Yesterday, Matt Herrington reported on the drought conditions in the west and High Plains. The western U.S. is at its worst drought conditions in 20 years,...

The USDA/FAS attaché in Lagos says that Nigerian soybean production and consumption is back on the rise. Soybean consumption will rise 38 percent in...

THE OPEN November beans:  4 higher December meal:  4.60 lower December soyoil:  180 pts higher December corn:  1 higher December wheat:...

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Algeria is expected to receive a shipment of 28,000 MT of Russian wheat – the first in...

SPREADS August crush trades higher to 1.18c/bu while oilshare moves up to 47.35%.  Heading into first notice day, the July/Nov bean inverse falls to 4...

GOOD MORNING, Prices are mixed with the major feature that of higher oilshare.  Soyoil futures are sharply higher against a falling meal market. ...

Dec 21 Corn closed at $5.4725/bushel, up $0.28 from yesterday's close.  Sep 21 Wheat closed at $6.515/bushel, up $0.1075 from yesterday's close. ...

The CBOT was mostly higher with short covering, bargain buying, and end-user pricing supporting futures. China has resumed its normal new-crop purchase of...

Biden Echoes Trump Anyone in Geneva expecting a softer, nicer U.S. following the defeat of Donald Trump found out otherwise this past week. Although there...

The EU is the largest maker of wine, followed by the U.S., whereas China may be the largest producer of table grapes but its production of wine in any quan...

Macroeconomics Argentina’s macroeconomic situation is not good. The peso, Argentina’s currency (AR$), has been depreciating in recent days whil...

THE OPEN beans:  14 higher meal:  .80 lower soyoil:  170 higher corn:  4 higher wheat:  10 higher The markets opened as called and...

As Gary Blumenthal reported on Friday, the Supreme Court, in a 6-3 decision, overruled the 10th District Federal Court of Appeals decision on the EPA&rsquo...

Regional News  The latest weather forecasts predict above normal temperatures for nearly all of Europe (except France) and the Black Sea this week wit...

GOOD MORNING, The markets, with the exception of meal, are higher on a combination of pricing, short-covering, and perhaps a bit of bargain hunting heading...

SPREADS August crush trades to 1.11c/bu while oilshare firmer to 36.28%.   The expiration of July options dials down open interest tallies. ...

• U.S. Cattle on Feed totaled 11.7 million head on June 1, 2021.This is the second highest June 1 inventory since the series began in 1996. • Pla...

The CBOT was mostly in the red to finish the week, except for spring wheat futures and the livestock complex. Grains and oilseeds opened higher but politic...

The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity marke...

USDA released its Cattle on Feed report today, which was mostly in-line with expectations.  The inventory of cattle in feedlots with a capacity of 1,0...

Jul 21 Corn closed at $6.365/bushel, down $0.1675 from yesterday's close.  Sep 21 Wheat closed at $6.4075/bushel, down $0.1125 from yesterday's close...

Hello Waivers The adage in law is to not ask questions to which you do not already know the answer. Otherwise, you might receive an answer that you do not...

SPREADS August crush trades to 1.04c/bu while oilshare is higher as soyoil surges again overnight, trading up to 47.53%.  July open interest continues...

GOOD MORNING, The markets turned around yesterday after ratcheting the trading range lower again on rain and expectations for a bearish June 30 Acreage/Sto...

The market remained on its relatively bearish trend today with managed funds selling while many fundamentalists believe they will just have to eventually b...

USDA released its quarterly Hogs and Pigs report today with most all categories coming in near pre-report expectations. Total inventory was 75.7 million he...

Jul 21 Corn closed at $6.5325/bushel, down $0.11 from yesterday's close.  Sep 21 Wheat closed at $6.52/bushel, down $0.1175 from yesterday's close.&nb...

Facebook Science It appeared at one point that the power of new genetic technologies to safely solve many problems would eclipse the influence of the anti-...

Larger U.S. Soymeal Export Sales Last Week Today’s USDA/FAS export sales report indicated exports of soybeans and soyoil continued to be seasonally l...

Macroeconomics Price Surges, Missing Data, and the Market Outlook While monthly food prices have only recently seen an increase from where they were a year...

THE OPEN Nov beans:  30 lower Dec meal:  5.90 lower Dec soyoil:  159 pts lower Dec corn:  14 3/4 lower Dec wheat:  12 1/4 lower Pr...

Wheat:  Net sales of 374,100 metric tons (MT) were reported for delivery in marketing year 2021/2022.    Corn:  Net sales of 216,3...

GOOD MORNING, The markets are lower as funds continue to liquidate length on continuing rainfall events over the US.  July open interest liquidation a...

SPREADS August crush trades up to 1.04c/bu while oilshare trades up to 46.0%.   July/Nov bean spread inverse falls to 79 1/2c from 90c while Augu...

The CBOT was mixed again as the central U.S. weather forecast improves. Corn and soybeans traded lower for the day with soybeans posting larger losses as t...

While countries like Brazil and Ukraine are trying to consolidate farmland in order to gain efficiencies, Australia has always had some of the largest farm...

Workers Unite U.S. Trade Representative Katherine Tai told union workers in Michigan that the Biden Administration wants workers to have a seat at the tabl...

Jul 21 Corn closed at $6.6425/bushel, up $0.045 from yesterday's close.  Sep 21 Wheat closed at $6.6375/bushel, up $0.0875 from yesterday's close.&nbs...

THE OPEN Beans:  Aug. up 1 and Nov down 3 Meal:   2.50 lower Soyoil:  60 pts higher Corn:  5 1/2 lower Wheat:  6 1/4 higher T...

Russian Grain Markets: 14-18 June 2021 The influence of the 2021 yield on the Russian market increased as harvesting progressed in the south of Russia. Tod...

U.S. red meat stocks continue to trend below year-ago levels with exceptional consumer and export demand tightening beef and pork supplies. Pork stocks inc...

GOOD MORNING, The overnight price action featured another session of strong oilshare and soyoil price action.  Soyoil helped beans to find a bid, even...

SPREADS August crush trades to 98c/bu while oilshare trades up to 45.20%.  August/ Nov bean inverse trades from 47c up to 54 1/4c.  Sep/Dec meal...

The CBOT ended Tuesday on a mixed note with rains forecast for the western Corn Belt pressuring markets. Corn futures saw continued bull spreading, however...

Phase One Flaws Headlines surrounding China’s import purchases from the U.S. reflect the challenge of politically motivated purchasing agreements. On...

Gary Blumenthal wrote yesterday about the trend toward carbon labels on food products. To facilitate that, the Senate is expected to vote this week on the...

There are an increasing number of reports citing the potential for the recent jump in commodities prices to be more than just a short-term dynamic. Masayuk...

Jul 21 Corn closed at $6.5975/bushel, up $0.005 from yesterday's close.  Jul 21 Wheat closed at $6.51/bushel, down $0.105 from yesterday's close. ...

THE OPEN August beans:  3 lower, Nov beans 8 lower August meal:  2.50 lower August soyoil:  17 lower Sep corn:  6 lower, Dec corn 7 low...

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Pakistan’s Economic Coordination Committee has approved the importation of 3 MMT of whe...

GOOD MORNING, Prices overnight were mixed as soyoil prices returned to weakness taking beans along for the ride.  Grains are mixed led by wheat to the...

SPREADS August crush trades to 90.84/cub while oilshare firms to 44.18% from values starting this week at 43.35%.  Inverses are firmer with August /No...

Welcome to summer 2021! For weeks now, the CBOT has been trading as if it were summer and weather the paramount factor, but yesterday marked the true offic...

The market is still awaiting the proposed required volume obligations (RVO) under the RFS. Rumors hit the market last week that the proposal was forthcomin...

The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity marke...

Liar, Liar, Pants on Fire The most impactful part of last week’s G7 communique was not the blah, blah, blah about saving the world from the pandemic...

While activists to Ukraine’s east decry Big Ag and romanticize about the superiority of small, inefficient farms, Kiev’s new law will enable th...

Jul 21 Corn closed at $6.5925/bushel, up $0.04 from yesterday's close.  Jul 21 Wheat closed at $6.615/bushel, down $0.0125 from yesterday's close.&nbs...

Regional News  Russia is expected to ship 28,000 MT of wheat to Algeria this month, the first shipment of wheat since December 2016. Russia has been l...

THE OPEN Nov beans: 32 lower Dec meal:  5.50 lower Dec soyoil:  140 pts lower Dec corn:  21 1/2 lower Dec wheat:  14 1/2 lower Prices o...

Corn Dry weather is helping reduce moisture in the corn crop and the harvest pace is slowly increasing. Last week, the Buenos Aires Grain Exchange reported...

GOOD MORNING, Prices are lower as a good amount of rain fell across portions of the Midwest recharging soil moisture.  The June 30 Stocks/Acreage repo...

SPREADS August crush trades to 92c/bu while oilshare trades to 43.03%.  July/Nov bean inverse trades from 83 3/4c to 93 3/4c.  Sep/Dec meal trade...

Jul 21 Corn closed at $6.5525/bushel, up $0.2225 from yesterday's close.  Jul 21 Wheat closed at $6.6275/bushel, up $0.2375 from yesterday's close.&nb...

Yesterday’s CBOT selloff was overdone, and traders went to work Friday to correct that error. WPI remains bullish CBOT commodities, especially after...

Communist Entrepreneurs In capitalist societies, parents that are entrepreneurs tend to have children that also become entrepreneurs. Researchers in the U...

On 30 April , we reported about inflation, massive government spending, and the reopening economy. As we wrote: Alleviating supply chain bottlene...

Venezuelan strongman leader Nicolas Maduro told Bloomberg that he wants U.S. President Joe Biden to end the sanctions imposed by Donald Trump and to allow...

THE OPEN July beans: 55 higher July meal:  6.30 higher July soyoil:  130 pts higher July corn:  12 higher July wheat: 9 1/2 higher The marke...

GOOD MORNING, The markets are higher after prices reached new monthly lows on a combination of pricing, short-covering, and new buying activity.  Comm...

SPREADS August crush trades to 84c/bu while oilshare trades to 43.62%.  Jul/Nov bean inverse trades from 1.04 1/2c down to 75 3/4c.   Sep/De...

There was red all over the board today with corn, soyoil, canola, and lean hogs all down the limit, and soybeans down close to the limit. It was downright...

Cattle slaughter was 665,000 head last week, much closer to where it needs to be to move through the supply of cattle. As of today, week-to-date, slaughter...

Jul 21 Corn closed at $6.33/bushel, down $0.4 from yesterday's close.  Jul 21 Wheat closed at $6.39/bushel, down $0.2375 from yesterday's close. ...

Wheat:  Net sales of 287,100 metric tons (MT) were reported for delivery in marketing year 2021/2022.  Increases primarily for Japan (95,100 MT,...

During the late 1990’s and through the early 2000’s, Beijing consulted with a lot of western economists who guided the nation’s emergence...

Soy Export Sales Highlights Today’s USDA/FAS weekly export sales report continued to show low U.S. soy export sales and also a slowing down of export...

THE OPEN July beans:  35 lower July meal:  2.30 lower July soyoil:  359 pts lower July corn:  19 lower July wheat:  8 3/4 lower Pr...

SPREADS August crush trades 85c/bu while oilshare trades lower to 43.31%.   Bean spreads are firmer with July/Nov trading to 1.12 1/2c from 1.05c...

GOOD MORNING, Prices are lower again on technical considerations as beans trend lower following a still weaker soyoil market.  Funds were sellers of 1...

Weather forecasts and changes thereto continue to drive the CBOT. Markets were initially weaker on overnight results from the GFS model that favored better...

Biofools Bull Market economists hate government policy intrusions and the requirement to blend biofuels ranks among the most egregious but there is curiosi...

Jul 21 Corn closed at $6.73/bushel, up $0.055 from yesterday's close.  Jul 21 Wheat closed at $6.6275/bushel, up $0.0125 from yesterday's close. ...

Livestock Falling Pig Prices Push Government to Consider Interventions The national average live pig price fell below RMB 15/kg ($2.35/kg) or RMB 6.80/lb...

THE OPEN July beans: 1 lower July meal:  3.00 higher July soyoil:  99 lower July corn: 7 1/2 higher Dec wheat:  3 3/4 higher The markets own...

Russian Grain Markets: 7-11 June 2021 Russian domestic grain markets have heard the first trumpets of the new crop approach. However, bearish sentiments ar...

GOOD MORNING, Prices are mixed today with beans into new lows and soyoil weak, but grain prices firming.   Shorts and end-users are attempting to...

SPREADS August crush trades to 94c/bu while oilshare trades to 45.38%.  Jul/Nov bean inverse trades from 89c from 1.03c, while Sep/Dec meal carry trad...

The CBOT opened higher in an attempt to stabilize after succumbing to pressure from negative political news, technical weakness, and improving weather/supp...

On Friday we reported on the lobbying effort by merchant refiners – and more specifically their labor unions – to get a waiver from the RFS. Bu...

U.S. President Joe Biden has been busy in Europe this past week and the results are a mixed bag of tricks. Boeing-Airbus Dispute: The two sides will withdr...

The U.S. has complained that India has underreported to the WTO on its wheat and rice subsidies, which involve the largest crops receiving support. However...

THE OPEN July beans: 2 higher July meal:  2.20 lower July soyoil:  50 higher July corn:  9 lower July wheat:  21 lower The markets open...

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  According to recent reports, India will export about 400,000 MT of corn in June and July with...

GOOD MORNING, Prices are attempting to stabilize after funds sold a decent amount of corn, beans, and soyoil on better chances for rainfall, negative polit...

SPREADS August oilshare is firmer again trading up to 46.29%.  Crush trades to 97c/bu.  Bull-spreads are firmer this morning.  Nov/July bean...

Friday’s market weakness carried over into Sunday night’s trade and that of Monday’s day session. Nearly every grain/oilseed market broke...

Supply Chain Situation; G7 Dreams; Job Killer Last week the Biden Administration issued partial results from analysis of critical supply chains under Presi...

According to the May edition of the Purdue University Ag Barometer, farmers see farmland values remaining high and are likely to scale back on planned equi...

Jul 21 Corn closed at $6.5925/bushel, down $0.2525 from yesterday's close.  Jul 21 Wheat closed at $6.745/bushel, down $0.0625 from yesterday's close...

The head of India’s soybean processing trade association said that the nation’s soybean harvest area will expand by 10 percent this year. India...

Corn Argentina’s corn harvest advanced 3.7 percent last week, a slow pace that is keeping overall progress well below prior years. The speed has not...

THE OPEN July beans:  46 lower July meal:  9.50 lower July soyoil:  340 lower July corn:  26 lower July wheat:  21 lower Prices op...

Regional News  Europe’s weather is trending warm and dry for the next two weeks but that is only likely to aid crop development after a cool sta...

GOOD MORNING, Prices opened lower and continued the sell-off driven by soyoil's sharply lower price action, as talk circulates that the Biden administratio...

SPREADS August crush trades to 78c/bu while oilshare trades down to 45.23%.  Spreads are firmer with the July /Nov bean inverse trading up to 83 3/4c...

Weaker technical conditions, limit-down soyoil, and more rains for the Dakotas conspired to push the CBOT sharply lower on Friday. Thursday’s WASDE s...

When it comes to biofuels policy and the White House, it is the same song but in a different key. The Biden White House is caught between two political bas...

Hot Red Meat As American and European leaders are meeting there is yet another key transatlantic difference, but it needs no negotiation and that is meat...

Jul 21 Corn closed at $6.845/bushel, down $0.145 from yesterday's close.  Jul 21 Wheat closed at $6.8075/bushel, down $0.03 from yesterday's close.&nb...

The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity marke...

THE OPEN July beans:  10 lower July meal:  1.10 lower July soyoil:  230 pts lower  Julu corn:  9 lower July wheat:  7 1/2 low...

GOOD MORNING, Prices started the night on a steady note but this morning will open lower.  Sharply lower soyoil futures are pressuring beans, and pric...

SPREADS August crush trades to 79c/bu while oilshare trades to 46.43%.  Today is the last day of the Goldman Roll as July futures wind down.  Jul...

Soybean oil exports for 2020/21 are reduced 400 million pounds to 1.9 billion as high U.S. prices reduce competitiveness in the world market. Conversely, d...

U.S. soybean crush for 2020/21 is reduced 15 million bushels because of a lower forecast domestic meal disappearance and higher soybean meal imports. ...

USDA’s projections for 2021/22 include higher beginning and ending stocks.  Higher beginning stocks reflect a lower crush forecast for 2020/21...

USDA’s outlook for 2021/22 U.S. corn is for a modest reduction in beginning stocks because of ethanol and export demand.  The forecast season-av...

USDA’s outlook for the new 2021/22 U.S. wheat crop is for higher production. All wheat yield is 50.7 bushels per acre, up 0.7 bushels from last month...

Wheat:  Note – First week of the New Crop year: Hence, Net sales of 325,900 MT for the 2021/2022 marketing year, which began June 1, were primar...

The markets started the day bullishly for corn and soybeans but with losses in wheat. Post the USDA WASDE report things changed. Larger soybean stocks flip...

JBS is back in the news this week as the company made two announcements; first, that it would be adding 300,000 head of capacity at its Omaha and Grand Isl...

Jul 21 Corn closed at $6.99/bushel, up $0.0825 from yesterday's close.  Jul 21 Wheat closed at $6.8375/bushel, up $0.015 from yesterday's close. ...

Transatlantic Reconciliation The U.S. – EU consultations this week surrounding the China-focused G-7 meeting likely has the politicians ahead of some...

Relatively Few Significant Changes for Soy in USDA WASDE Report Some expected the June monthly WASDE update released today to make substantial changes to t...

THE OPEN July beans:  7 higher July meal: .70 higher July soyoil;  37 higher July corm:   6 higher July wheat:  7 lower The market...

GOOD MORNING, Prices are mixed featuring higher soy and corn, lower wheat.   Could it be a foreshadowing of themes to come for the day?  The...

  SPREADS August crush trades to 87c/bu while oilshare trades to 47.0%.   The July/Nov bean inverse falls to new lows of 1.12 1/2c from 1.15...

The CBOT was primarily focused on the ongoing index fund roll and positioning for tomorrow’s WASDE. Prices opened lower and traded that direction unt...

Bipartisan Enemy U.S. Congressional Democrats and Republicans cannot agree on an infrastructure investment package but when it comes to competing with Chin...

The UN’s Global Goals for Sustainable Development are largely being written by NGO’s from rich countries, which is making some of the world&rsq...

Macroeconomics Food Inflation Up in May, First Time Since January  With live hog and retail pork prices nosediving, food inflation remained in negativ...

Russian Grain Markets: 31 May-4 June 2021 The Russian domestic grain market showed chaotic movement due to many factors both domestic and export oriented...

THE OPEN July beans: 8 lower July meal:  2.50 lower July soyoil:  54 lower July corn:  3 lower July wheat:  10 1/4 lower Prices opened...

SPREADS August crush trades up to 84c/bu while oilshare prices trades to 46.89%. Spreads are firmer with Jul/Nov bean inverse strengthening up to 1.28 1/4c...

GOOD MORNING, Prices opened a touch softer as positioning in front of Thursday's report takes place and the spreads continue to bounce around as Day 3 of t...

Monday evening’s crop conditions supported CBOT trade on Tuesday, and the market opened higher overnight and added gains from there. Wheat was an ear...

Dangerous Jobs French President Emmanuel Macron was reportedly slapped in the face by a disgruntled citizen near the city of Valence. That makes the job of...

Food Chain Resiliency and Meat Industry. USDA announced today that it would spend $4 billion to “strengthen critical supply chains” and in the...

U.S. flour exports were down slightly for the first quarter of the year, but that is generally par for the industry. Turkey produces one-third the volume o...

Jul 21 Corn closed at $6.8/bushel, up $0.0075 from yesterday's close.  Jul 21 Wheat closed at $6.85/bushel, up $0.05 from yesterday's close.  Jul...

THE OPEN July beans:  9 higher July meal:  2.00 higher July soyoil:  94 higher July corn:  1 higher July wheat:   5 3/4 highe...

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Tunisia’s government expects the grain crop this year will be 1.07 MMT of durum wheat,...

GOOD MORNING, Trade opens into positive territory to start the PM session, with conditions poorer than expected and hot and dry forecasts continuing in are...

SPREADS August crush trades to 81c/bu while oilshare trades at 46.76%.  July/Nov bean spreads firms off lows of 1.17 1/4c, with an inverse high at 1.2...

The CBOT gapped higher at Sunday night’s open after a weekend of hot, dry weather and reductions in the Brazilian corn crop. December corn opened abo...

Reports indicated that the global pandemic caused a resurgence in the consumption of orange juice under the belief that its high vitamin C content strength...

Jul 21 Corn closed at $6.7925/bushel, down $0.035 from yesterday's close.  Jul 21 Wheat closed at $6.8/bushel, down $0.0775 from yesterday's close.&nb...

Background: EU politicians are challenged finding compromises on CAP reform that concurrently meet the objectives of the Farm to Fork and Green Deal. There...

Corn Argentina’s corn harvest is moving faster now that the soybean harvest is nearing its end. Over the past two weeks, farmers harvested 7 percent...

THE OPEN July beans:  24 higher July meal:  4.50 higher July soyoil: 120 pts higher July corn:  14 higher July wheat:  6 higher The mar...

Regional News  Europe’s weather is trending pleasantly warmer after a cool start to the growing season. Temperatures will be above normal for mo...

SPREADS August crush trades to 86.98c/bu while oilshare trades to 46.44%.   The official index roll begins today and spreads are weaker.  Ju...

GOOD MORNING, The markets are higher across the board, with soyoil futures into new ctr highs.  Hot and dry weather forecasts verify, sending prices s...

The CBOT finished the week on a high note with funds and speculative traders buying heading into a weekend that is forecast to be hot and dry for the U.S...

The May jobs data came out; there was an increase in private payrolls of 559,000 jobs. At any other time, other than post COVID era, that would be bullish...

Jul 21 Corn closed at $6.8275/bushel, up $0.2075 from yesterday's close.  Jul 21 Wheat closed at $6.8775/bushel, up $0.115 from yesterday's close.&nbs...

Line Speed Hogwash The United Food and Commercial Workers Union achieved their goal of obtaining the Biden Administration’s support for a federal dis...

Wheat:  Net sales reductions of 33,300 metric tons (MT) for 2020/2021 were down noticeably from the previous week and from the prior 4-week average. C...

The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity marke...

THE OPEN July beans:  21 higher July meal:  3.40 higher July soyoil:  120 pts higher July corn:  13 1/2 higher July wheat:  8 1/2...

GOOD MORNING,  Prices started the PM session in the plus column after breaking down from a higher start yesterday.  Each different weather predic...

SPREADS August crush trades to 78c/bu while oilshare trades to 45.60%.  July/Nov bean inverse drops to 1.43c from 1.49 1/4c, and from highs that were...

Excellent early crop ratings but excessive dryness, then a chance of showers that may or may not occur – the one certainty is uncertainty and today&r...

The cyber attack on JBS sent a shock through the markets, but JBS was already re-opening plants on Wednesday. Today’s estimated slaughter was back up...

Jul 21 Corn closed at $6.62/bushel, down $0.13 from yesterday's close.  Jul 21 Wheat closed at $6.7625/bushel, down $0.1125 from yesterday's close.&nb...

Punish the People Like consumers elsewhere in the world, Indians are now paying about double for vegetable oil what they paid a year ago. This is a bargain...

India Considering Proposal to Lower Vegoil Import Tariff Rates The government of India yesterday indicated it is considering reducing tariff rates for impo...

THE OPEN July beans:  20 higher July meal:  1.40 higher July soyoil: 84 higher July corn 7 higher July weather:  6 higher The markets opened...

GOOD MORNING, Prices are higher overnight as funds return as buyers on hot and dry weather conditions and bullish technicals.   In the lead are s...

SPREADS August crush trades higher to 45.94% while crush trades to 81c/bu.  Spreads are softer in corn, with July/Dec trading down to 1.00 3/4c invers...

The CBOT started Wednesday’s session lower in overnight trade but stronger energies and soyoil pulled soybeans higher for the day. Grains were weaker...

Industry Resilience When COVID hit and food supply chains were disrupted by the shift to consuming food at home instead of from institutional providers, cr...

Among the animal proteins, only milk has lower GHG emissions than poultry eggs. This is because in a sense, they are both renewable farm products. A cow pr...

Jul 21 Corn closed at $6.75/bushel, down $0.1375 from yesterday's close.  Jul 21 Wheat closed at $6.875/bushel, down $0.06 from yesterday's close.&nbs...

Livestock China’s Live Hog Market Face Uncertainties, Nears Breakeven Point According to the Ministry of Agricultural and Rural Affairs’ (MARA)...

Russian Grain Markets: 24-28 May 2021 The Russian domestic grain market reacted to the introduction of the new “floating” export duty effective...

THE OPEN July beans:  11 higher July meal:  stray July soyoil:  140 pts higher July corn:  1 lower July wheat:  2 3/4 higher Big s...

SPREADS August oilshare trades to 44.82% while crush trades up to 82c/bu.   Jly/Nov bean inverse reached a six-week low trading down to 1.45 1/2c...

GOOD MORNING, Precise are mixed overnight with a better condition rating for corn creating a minor pullback at the start of the PM session.  Beans con...

The CBOT opened sharply higher on Tuesday following a long, holiday weekend that saw U.S. weather forecasts deteriorate significantly. Spring wheat (Minnea...

This morning we posted an alert on the cyber-attack on JBS IT infrastructure in North America and Australia. The attack happened over the weekend and the c...

The marathon trilogue negotiations between the European Commission, European Parliament, and the European Council failed to achieve agreement on revisions...

Jul 21 Corn closed at $6.8875/bushel, up $0.32 from yesterday's close.  Jul 21 Wheat closed at $6.935/bushel, up $0.3 from yesterday's close.  Ju...

The requirement in the U.S. for country-of-origin labeling became effective in 2008 and by 2015 legislators were writing its repeal. The way it had been de...

THE OPEN July beans: 27 higher July meal:  5.40 higher July soyoil;  97 higher July corn:  20 3/4 higher July wheat:  18 1/2 higher The...

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Grain importers in the region were very interested in Russia’s announcement of its new...

Just three weeks after the Colonial Pipeline that supplies about 45 percent of the gasoline to the U.S. East Coast was hit by cyber hackers, the largest me...

SPREADS August crush trades at 74.58c/bu while oilshare is 44.12%.  Jly/Nov bean inverse drops to 1.53 3/4c from 1.58 3/4c as traders will have to beg...

GOOD MORNING, As we move into the month of June, traders will continue to watch weather and demand.  Prices regrouped last week after dropping to mont...

Monday, 31 May is a U.S. holiday, and the markets and our office will be closed. Please note that the next Ag Perspectives will be published on Tuesday, 1...

The CBOT was lower to end the week with quiet trading heading into the long, U.S. Memorial Day weekend. Bulls booked some profits after yesterday’s l...

Fast Reversal On Wednesday, U.S. Trade Representative Katherine Tai told Reuters that, “It’s impossible to predict the organic development of a...

The White House released the President’s Budget today; it is a $6 trillion dollar package that picks up where the COVID pandemic relief spending left...

Mexico’s Deputy Central Bank Governor Irene Espinosa is doing what many other politicians do when they want innocence from a problem – blame gl...

Jul 21 Corn closed at $6.5675/bushel, down $0.0775 from yesterday's close.  Jul 21 Wheat closed at $6.635/bushel, down $0.1275 from yesterday's close...

The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity marke...

Due to the Memorial Day holiday, there will be no Technical Perspectives reports today. The next reports will be on Tuesday, 1 June 2021...

Markets do not often hit their daily trading limit, but corn got there today and there were mostly bulls across the complex. The trade had driven prices do...

The U.S. beef cutout is still at elevated levels and cattle prices are in the doldrums as capacity and labor issues create a kink in the value chain. Botto...

WPI's monthly publication features a review of the past month's market and policy analysis articles. This month we examine issues surrounding market demand...

Jul 21 Corn closed at $6.645/bushel, up $0.4 from yesterday's close.  Jul 21 Wheat closed at $6.7625/bushel, up $0.2775 from yesterday's close. ...

Bipolar World Returns Russia and China have been presenting a united front to the West, but the West has not been reciprocating, until now. President Biden...

U.S. Soy Export Sales Highlights Today’s USDA/FAS export sales report indicated exporters made moderate export sales of U.S. soybeans and soymeal in...

THE OPEN July beans: 2 higher July meal: 2.00 higher July soyoil:  35 higher July corn:  8 higher July wheat:  10 higher The markets opened...

Wheat:  Net sales of 29,500 metric tons (MT) for 2020/2021 were down 76 percent from the previous week and 58 percent from the prior 4-week average.&n...

GOOD MORNING,  Prices were mixed with the grains firmer vs. the soy complex, but after export sales all rallied into the close.  For bulls, the g...

SPREADS August crush trades to 74c/bu while oilshare trades to 44.51%.  July/Nov beans traded down to .52 1/4c inverse from 1.59c.  July/Dec meal...

The CBOT started the day weaker, but end-users stepped up in the corn market and created enough strength to force a higher close. As such, the corn market...

Jul 21 Corn closed at $6.245/bushel, up $0.0425 from yesterday's close.  Jul 21 Wheat closed at $6.485/bushel, down $0.08 from yesterday's close. ...

Antitrust Dust European antitrust officials have been busy, and their latest target is a large but declining giant called Coca Cola. The investigation migh...

Pandemic Growing Uncertainty Over COVID-19’s Origin Deepens Rift Despite the hot start for U.S. agricultural exports to China in 2021, Beijing’...

Russian Grain Markets: 17-21 May 2021 Russian domestic grain markets did not see any major price shifts, and although the market continued to show bullish...

THE OPEN July beans:  5 lower July meal: 3.00 lower July soyoil:  29 lower July corn:  3 lower July wheat:  10 lower The markets opened...

SPREADS August crush trades to 77c/bu while oilshare trades to 44.83%.  Bean bull spreads are firmer with Jly/Nov trading up to 1.69c from 1.61c. ...

GOOD MORNING, Prices continue to establish lower trading ranges with soyoil once again the leader to the upside.  It is typical that markets will foll...

On 16 November, after the election, we reported on the transition memo for USDA to provide “recommendations that can help the President hit the groun...

The CBOT fell sharply (except for soyoil, which seems to be living in its own little world) with funds quickly and aggressively liquidating long positions,...

The U.S. Commerce Department is doubling the tariff on softwood lumber imported from Canada to 18.32 percent. The hike is coming at a time of record lumber...

Jul 21 Corn closed at $6.2025/bushel, down $0.37 from yesterday's close.  Jul 21 Wheat closed at $6.565/bushel, down $0.0575 from yesterday's close.&n...

THE OPEN: July beans: 8 higher July meal: 1.40 lower July soyoil: 75 higher July corn: 3 1/2 lower July wheat: 2 higher The markets opened as called but...

When it comes to almonds, the U.S. is the world’s largest producer by far. It produces over 80 percent of the world’s almond crop. However, whe...

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  The owners of the container ship that blocked the Suez Canal – Ever Given – are c...

NOTE: Technical Perspectives from WPI will not be published Friday, May 28, 2021. SPREADS August crush trades at 75c/bu while oilshare declines t...

NOTE: Technical Perspectives from WPI will not be published on May 28, 2021. Good morning -  Prices traded higher overnight led by soyoil, w...

The CBOT started the week on a weaker note with funds taking a more defensive position after last week’s selloff. Nearly all CBOT contracts were lowe...

Productivity Impacts The Kansas City Federal Reserve kicked off its annual conference on agriculture with this year’s topic seemingly a little tin ea...

British farmers are upset that their government may give access to the UK market to beef from Australia. They argue that they are not competitive against t...

The EPA is floating a trial balloon of maintaining the 2020 RVOs for 2021 and 2022. In April, a group of Senators urged EPA to add 500 million gallons to t...

Jul 21 Corn closed at $6.5725/bushel, down $0.0225 from yesterday's close.  Jul 21 Wheat closed at $6.6225/bushel, down $0.12 from yesterday's close.&...

Corn Argentina  Argentina’s corn harvest is progressing slowly but gaining speed. Harvest gained 3 percent last week, bringing the total to 27.6...

NOTE: LCF will be closed May 28.   THE OPEN July beans:  7 3/4 lower July  meal:  2.30 lower Juy soyoil:  45 lower Jul corn: ...

Regional News  Ukraine’s 1 May grain stocks totaled 9.5 MMT in 2021, up 0.18 MMT from the same period in 2020. Notably, wheat stocks were up 8 p...

SPREADS August crush atrades to 79.80c/bu while oilshare trades to 43.60%.  July/Nov bean inverse firms from its lows of 1.63 1/4c to trades up to 1.7...

GOOD MORNING, Prices were lower overnight as a combination of good weather and poor technical closes created more fund long liquidation.  The trend co...

1. United States Cattle on Feed Up 5 Percent  2. Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of...

The CBOT ended the week on a down note with low trading volume. The soy complex recovered slightly around noon but finished the day lower with mild losses...

While the EU is developing a command-and-control approach toward making farming more climate friendly, the newly announced Biden Administration approach is...

USDA released its Cattle on Feed report today. The inventory of cattle in feedlots with a capacity of 1,000 head or more was 11.7 million head, 105 percent...

The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity marke...

Jul 21 Corn closed at $6.595/bushel, down $0.05 from yesterday's close.  Jul 21 Wheat closed at $6.7425/bushel, down $0.01 from yesterday's close.&nbs...

Argentina’s restriction on beef exports to control domestic inflation and political upheaval could raise issues over reliability as a supplier. Howev...

THE OPEN July beans:  12 lower July meal:  2.20 lower July soyoil:  89 lower July corn:  8 lower July wheat:  6-7 lower The market...

SPREADS August crush trades to 81c/bu while oil share trades to 43.51%.  Bean inverses are weaker with July/Nov trading down to 1.60c from 1.65 3/4.&n...

GOOD MORNING, Prices started mixed overnight, but mostly on the defensive led by beans and soyoil futures. This morning we are seeing another round of end-...

Some say it is hard to know the top of a market, but the funds think they’ve seen it and this Friday’s Commitment of Traders report is likely t...

USDA will release its monthly Cattle on Feed report tomorrow. Pre-report estimates from the industry peg the total number of cattle on feed as of 1 May 103...

U.S. Soy Export Sales Highlights Today’s USDA/FAS export sales report indicated the week ending 13 May was another slow one for export sales of U.S...

THE OPEN July beans:  1 3/4 lower July meal:  2.00 higher July soyoil:  1.40 lower July corn:  3 higher July wheat:  1/4 lower Pri...

Exporters for the period May 7-May 13, 2021. Wheat:  Net sales of 121,000 metric tons (MT) for 2020/2021 were up noticeably from the previous week and...