Russian Grain Markets: 28 September–2 October 2026 During September, the Russian grain market clearly divided between export demand in the Baltic and...
Articles
Market Commentary: CBOT Rallies as Crop Ratings Fall and Wheat Planting Stalls
What You Need to Know Today: U.S. corn condition ratings took a surprise turn for the worse in Monday’s report, with 54 percent rated good/excellent...
Executive Order and G7 Actions on Diesel Fuel
In a letter last week to President Trump, Zippy Duvall, president of the American Farm Bureau Federation (AFBF), wrote that diesel prices are squeezing far...
Summary of Futures
Dec 26 Corn closed at $5.08/bushel, up $0.1075 from yesterday's close. Dec 26 Wheat closed at $7.0425/bushel, up $0.12 from yesterday's close. ...
Livestock Industry Margins
Beef packer margins improved to $222/head last week, up $26 from the prior week as the Choice cutout strengthened while fed cattle prices slipped lower. Th...
Understanding the Difference Between Export Inspections and Export Sales
Key Takeaways: Export sales measure new commitments for future delivery, while export inspections provide a timelier gauge of grain that is physically mov...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Sri Lanka poultry producer associations say that the delay in approving maize imports is p...
Summary of Futures
Dec 26 Corn closed at $4.9725/bushel, down $0.005 from yesterday's close. Dec 26 Wheat closed at $6.9225/bushel, up $0.0925 from yesterday's close.&n...
Market Commentary: Global Grain Demand Grows; Brazil Election, Currency Swing Boosts Soybeans
What You Need to Know Today: The Brazilian real surged to start the week after a surprise election result in which right-wing Flavio Bolsonaro won the fir...
Harvest Pressure: Why Grain Prices Often Weaken at Harvest
Key Takeaways: Harvest pressure is fundamentally a timing issue: supply arrives much faster than demand can adjust, creating temporary weakness that can o...
Hog Industry Margins
Pork packer margins closed out September as positive, marking an improvement in a challenging 2026. According to Sterling Marketing, for the week ending 26...
Mercosur Regional Analysis
Wheat Argentina Argentina’s wheat conditions improved following the latest round of rainfall. Around 34 percent of the crop is now at heading or late...
Summary of Futures
Dec 26 Corn closed at $4.9775/bushel, down $0.045 from yesterday's close. Dec 26 Wheat closed at $6.83/bushel, up $0.0025 from yesterday's close.&nbs...
Market Commentary: Harvest Pressure Weighs on Grains, Diesel Could See Much-Needed Relief
What You Need to Know Today: The G7 agreed to release 100 million barrels of crude oil and fuel reserves over four months, with a substantial diesel relea...
R-CALF Proposes Changes to Cattle Contracts
In a recent social media post, R-CALF unveiled its latest cattle market plan: “contracts that bind producers before establishing a base price, then t...
The Future of Cattle Pricing
Key Takeaways: The recent pearl-clutching from parts of the beef industry regarding the loss of the daily Kansas fed cattle negotiated trade pricing...
CFTC COT Report Analysis
Managed money was a slight net seller across agricultural markets for the second straight week, selling a net 63,000 contracts through Tuesday’s repo...
Summary of Futures
Dec 26 Corn closed at $5.0225/bushel, up $0.015 from yesterday's close. Dec 26 Wheat closed at $6.8275/bushel, up $0.07 from yesterday's close. ...
Market Commentary: Drier Weather Could Accelerate Soybean Harvest
What You Need to Know Today: A drier early-October forecast should help harvest accelerate across areas of the western Corn Belt that have been running be...
Livestock Round Up: Hogs and Pigs Report
USDA released its Quarterly Hogs and Pigs report for 1 September last week. The total inventory of hogs and pigs in the U.S. was 74.3 million head, reflect...
Transportation Perspectives - 1 October
Key Takeaways: Dry bulk markets are mixed this week with the Capesize sector seeing a sharp correction from its recent rally. Smaller vessel classes are s...
Where the Milk Goes Determines the Value
August 2026 milk production, the four-class pricing system, and the 2025 Federal Milk Marketing Order reforms Key Takeaways: U.S. milk production is growi...
Summary of Futures
Dec 26 Corn closed at $5.0075/bushel, down $0.2125 from yesterday's close. Dec 26 Wheat closed at $6.7575/bushel, down $0.17 from yesterday's close.&...
Market Commentary: Quarter & Month End Reality Checks
Markets are getting a quarter-end reality check as September comes to a close. Growth, inflation and interest rates remain central to the macro outlook, wh...
Do Russia’s Northern Grain Exports Matter?
Key Takeaways: Russia recently said it would convert existing export terminals in the Baltic and Arctic Seas to handle grain as the Black and Azov S...
Higher Corn Stocks Contrast with Tighter Soybean Supplies
Key Takeaways: 1 September corn stocks totaled 2.095 billion bushels, 171 million above expectations and 544 million above last year, providing additional...
Black Sea Regional Analysis
Russian Grain Markets: 21–25 September 2026 During the third week of September, the Russian grain market remained bearish. For the first time since 2...
Summary of Futures
Dec 26 Corn closed at $5.22/bushel, down $0.01 from yesterday's close. Dec 26 Wheat closed at $6.9275/bushel, up $0.04 from yesterday's close. ...
Market Commentary: Wet Midwest Weather, Grain Stocks Positioning Support CBOT
What You Need to Know Today: CBOT markets pared Monday’s sharp losses as traders booked short profits and adjusted positions ahead of the Grain Stoc...
Energy Markets and the Slowly Disappearing Diesel Export Ban Proposal
There was encouraging news over the weekend: the White House may reject the misguided idea on Capitol Hill to ban U.S. diesel exports. What WPI has noted p...
How Comparative Advantage Shapes Global Trade
Key Takeaways: Comparative advantage encourages countries to specialize in goods they can produce at a lower opportunity cost and rely on trade for others...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Iran is reported to have completed its rail link from the border with Afghanistan to the I...
Livestock Industry Margins
Beef packer margins improved to $196/head last week, up $20 from the prior week as fed cattle prices declined faster than the Choice cutout. The cutout eas...
Summary of Futures
Dec 26 Corn closed at $5.23/bushel, down $0.0525 from yesterday's close. Dec 26 Wheat closed at $6.8875/bushel, down $0.145 from yesterday's close.&n...
Market Commentary: Everything but Soybeans
What You Need to Know Today: Last week’s Trump-Xi meetings included China agreeing to roll back $60 billion in tariffs on a huge swath of U.S. ag pr...
Policy Quick Hits: Mexico, Ad Hoc Farm Assistance, Ultra-Processed Foods
Mexico Trade Deal The Trump Administration is looking for a win before the November midterm elections, now just five weeks away, especially as trade relati...