Ham-Handed U.S. Treasury Secretary Scott Bessent said that the Administration will make “substantial announcements” about tariffs on coffee and...
Articles
Black Sea Regional Analysis
Russian Grains Market: 3–7 November 2025 During the first week of November ,the market was predominantly bearish with rare temporary recoveries in in...
Market Commentary: CBOT Mixed as Shutdown End Begins
The CBOT was mixed with Monday’s strength in various markets fading quickly and giving way to a “turnaround Tuesday”. Corn and soyoil wer...
Pandorra’s Tariff Box
This is not a defense of tariffs or the tariff war, but a discussion about strategy and asymmetry. Since Mr. Trump announced his reciprocal tariff plan (tr...
Summary of Futures
Dec 25 Corn closed at $4.32/bushel, up $0.0225 from yesterday's close. Dec 25 Wheat closed at $5.36/bushel, up $0.0025 from yesterday's close. ...
Agreement to End Government Shutdown Reached in Senate, Ag Highlights
As Matt Herrington wrote yesterday, the 41-day government shutdown appears to be coming to an end. The Senate has taken a major step toward it by passing a...
Livestock Industry Margins
Beef packer margins rallied for the third straight week and returned to positive values for the first time in a month. Margins rose $16/head and hit an est...
Market Commentary: Markets Rally as Shutdown Starts to End
CBOT markets rode a wave of enthusiasm Monday with the winds of a partial reopening of the U.S. government, China trade optimism, and USDA’s upcoming...
Trump Calls for Meat Packing Anti-Trust Investigation
Late Friday afternoon, President Trump called on the Department of Justice to investigate potential anticompetitive practices in the meatpacking industry...
Beef, Pasta, Inflation
Replicating his predecessor, Mr. Trump is blaming corporate price gouging for currently high beef prices. Charging the industry with “Illicit Collusi...
Summary of Futures
Dec 25 Corn closed at $4.2975/bushel, up $0.025 from yesterday's close. Dec 25 Wheat closed at $5.3575/bushel, up $0.08 from yesterday's close. ...
Mercosur Regional Analysis
Wheat Harvesting is gaining momentum, including in the higher-yielding areas of Córdoba. Yields are good and some are described as impressive - as h...
European Market Analysis
Regional News France is preparing to block a free trade agreement between the EU and Southern Common Market (Mercosur) trade block. French ag ministe...
Daily Estimate of Managed Money Positioning in Ag Futures
Amid the ongoing U.S. government shutdown, WPI presents the following estimates of managed money traders’ positioning in key agricultural futures mar...
Phosphate and Potash Added to Critical Minerals List
The Department of the Interior has added phosphate and potash, two key fertilizer ingredients, to the official Critical Minerals List. They are part of 60...
Market Commentary: Pre-Weekend Bounce on a Mixed Week
Outside markets continued their downbeat on Friday but ag futures had a few recoveries from yesterday’s trouncing. Corn closed lower for the d...
Summary of Futures
Dec 25 Corn closed at $4.2725/bushel, down $0.015 from yesterday's close. Dec 25 Wheat closed at $5.2775/bushel, down $0.0775 from yesterday's close...
WPI Crop Balance Sheet Forecasts
Ahead of next week’s USDA’s Crop Production and WASDE reports, WPI offers our latest projections for the corn, soybean, and wheat balance sheet...
WPI Grain Transportation Report
Dry bulk freight markets were quiet this past week and continued the trend that has been present since mid-October. The quiet trade let rates drift lower w...
Summary of Futures
Dec 25 Corn closed at $4.2875/bushel, down $0.065 from yesterday's close. Dec 25 Wheat closed at $5.355/bushel, down $0.1925 from yesterday's close.&...
Market Commentary: Corrections Lower, and Maybe Yet Lower
There was a “show me the money” attitude in today’s trading as caution replaced yesterday’s enthusiasm in both ag markets and on Wa...
Livestock Roundup: U.S. and Global Beef Markets
USDA confirmed last Friday, 31 October, that despite the shutdown several key reports will be issued, including the November Cattle on Feed report, schedul...
Historic Trends in USDA’s November Crop Production Report
Heading into next week’s (mercifully) planned USDA Crop Production and WASDE reports, a key focus of the markets has been forecasting the agency&rsqu...
Market Commentary: Soybeans Rally as China Cuts Tariffs; Cattle Implosion Continues
Trade was once again at the forefront of the CBOT’s trade on Wednesday, with reductions in Chinese tariffs, rumors of Chinese buying, and a dimming p...
IEEPA Alternatives; Transatlantic Machinations; Anti-Bubble in Ag
IEEPA Alternatives The U.S. Supreme Court heard oral arguments today challenging President Trump’s use of the International Emergency Economic Powers...
Summary of Futures
Dec 25 Corn closed at $4.3525/bushel, up $0.0375 from yesterday's close. Dec 25 Wheat closed at $5.5475/bushel, up $0.045 from yesterday's close.&nbs...
Black Sea Regional Analysis
Russian Grains Market: 27–31 October 2025 The Russian grains market remained predominantly bearish during the final week of October, with only brief...
Market Commentary: An Appearance of Weakness
Bullish sentiments have been driving the CBOT higher since last week’s U.S.-China trade talks, but bears finally made an appearance on Tuesday. The C...
Supreme Court to Hear Tariff Case Tomorrow
The Supreme Court will hear the case on President Trump’s tariffs tomorrow, and leading into the court session the White House is exuding confidence...
Inspiring Change; Transactional Ag; USMCA Attack
Inspiring Change U.S. President Donald Trump’s assault on NATO was unpleasant, especially for Europe. Yet the result was European capitals finally ag...
Summary of Futures
Dec 25 Corn closed at $4.315/bushel, down $0.0275 from yesterday's close. Dec 25 Wheat closed at $5.5025/bushel, up $0.0675 from yesterday's close.&n...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Iran continues to be the largest importer of Brazil maize as total maize exports reach 23...
Livestock Industry Margins
Beef packer margins rallied sharply last week and posted their second week of gains to end essentially at breakeven levels. Margins rose $142/head and hit...
Market Commentary: Soybeans, Wheat Rally on China Buying; USDA Confirms Report Release
Rumors of Chinese buying supported soybeans and SRW wheat futures on Monday and sent both contracts to new rally highs. For soybeans, the biggest news driv...
Summary of Futures
Dec 25 Corn closed at $4.3425/bushel, up $0.0275 from yesterday's close. Dec 25 Wheat closed at $5.435/bushel, up $0.095 from yesterday's close. ...
Offer Ownership; False Equivalence
Offer Ownership U.S. Senator Kevin Cramer (R-North Dakota) has urged the U.S. Justice Department to investigate the “Big Four” meat packing com...