Policy Developments China Highlights Overseas Ag Investments at Belt and Road Forum The summit last week in Beijing touting China’s signature Belt an...

The U.S. trade delegation is a meeting with its Chinese counterpart in Beijing today, and what have become the usual optimistic noises from both sides are...

Congress is back in session today after a two-week recess for Easter and Passover, and the four weeks until the Memorial Day recess will be crucial for som...

The first six weeks of spring have been unusually cold and wet for most of the central U.S. Drenching rains together with the melting of an unusually deep...

Jul 19 Corn closed at $3.625/bushel, up $0.0075 from yesterday's close.  Jul 19 Wheat closed at $4.2875/bushel, down $0.065 from yesterday's close.&nb...

Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Turkey says it will be a “key player in global grain” with plans to greatly expand storage/...

China Expanding Blockage of Imports from Canada It appears that China has raised the pressure on Canada to release the Huawei Technologies CFO. After she w...

The Sunday night session was quiet with corn higher while wheat and soybeans were slightly lower. That trading pattern didn’t change today. Corn was...

Russia Meat Subsidy The Russian government will reportedly allocate $6.5 billion for “soft” export-oriented investment loans to the meat indust...

Cash prices for hard red spring wheat across the Dakotas and western Minnesota continue to press lower, and they are now down to $4.25-4.50/bushel for 14 p...

Argentina’s Macroeconomic Situation Argentina’s economic situation is growing more complex every day. Both external and internal factors (infla...

Jul 19 Corn closed at $3.6175/bushel, up $0.005 from yesterday's close.  Jul 19 Wheat closed at $4.3525/bushel, down $0.0725 from yesterday's close.&n...

U.S. first-quarter gross domestic product (GDP) growth reached 3.2 percent, according to the initial report from the Bureau of Economic Analysis (BEA) last...

Milling Wheat The Black Sea market remained under pressure last week in sympathy with the EU and U.S. markets. With its export surplus almost entirely gone...

Jul 19 Corn closed at $3.6125/bushel, up $0.04 from yesterday's close.  Jul 19 Wheat closed at $4.425/bushel, up $0.01 from yesterday's close.  J...

The beat goes on (just more slowly). Corn and wheat prices were slightly higher overnight with soybeans slightly lower. That’s how the market opened...

Hill Jam Researchers at the University of Warwick in the UK affirm the work of other economists in finding that the imposition of tariffs harms both the fo...

The continuing decline in wheat, corn and soybean prices is good news for the world’s consumers, but it is very bad news for the world’s produc...

Beyond Meat, the maker of a vegetable protein meat alternative product, is preparing for an IPO. It will be offering 8.75 million shares at $19-21, which w...

Finally, some stability seemed to creep into grain and soy futures markets – a least for a day. Prices stayed rather close to yesterday’s close...

Final 2018 Red Meat Production USDA released the final tally of 2018 red meat production yesterday. Beef and pork production were individually 103 percent...

Permanent Pivot in Trade Policy German Green Party member of the European Parliament Martin Häusling and other politicians are telling the European Co...

It has been said that commodities futures markets are zero-sum games, that someone’s gains are always offset by someone else’s losses. Whereas...

Jul 19 Corn closed at $3.5725/bushel, up $0.0125 from yesterday's close.  Jul 19 Wheat closed at $4.415/bushel, up $0.03 from yesterday's close. ...

U.S. Soy Export Sales Highlights U.S. export sales of soybeans and soymeal were up in the week ending 18 April, but soyoil sales and exports declined from...

WPI's monthly publication features analyses of U.S. agribusinesses, outlooks for the U.S. soybean industry and U.S. meat/livestock industry, and an assessm...

Wheat:  Net sales of 425,300 metric tons for delivery in the 2018/2019 were up 34 percent from the previous week, but down 4 percent from the prior 4-...

Statistics Canada released its initial estimates, which are based on surveys conducted last month, of planted area for 2019. Much like the U.S., they show...

Russian Grain Markets: 15-19 April 2019 While grain prices on the domestic market mostly dropped in RUB expression, they grew slightly in USD expression du...

Tri-Rift President Donald Trump has ripped apart the trilateral EU-Japan-U.S. policy consortium and looks to increasingly target Europe with his bitterness...

May 19 Corn closed at $3.4675/bushel, down $0.045 from yesterday's close.  Jul 19 Wheat closed at $4.385/bushel, down $0.065 from yesterday's close.&n...

Marco Trends March Economic Data Points to Effects of Stimulus and ASF In response to a sharp economic slowdown and the ongoing impact of the trade war wit...

Grain and soy prices chopped slightly around either side of unchanged in overnight trade, giving rise to thoughts that those markets might be able to muste...

According to data released late last week, the EPA has granted one additional small refinery exemption (SRE) for 2017 and received three more SRE requests...

There is widespread support in Europe for the new revisions to the General Food Law, but research may prove the risk that the critics have warned about. Un...

The theory that commodities were a useful tool for anyone seeking to diversify an investment portfolio gained considerable popularity in the early years of...

May 19 Corn closed at $3.5125/bushel, down $0.035 from yesterday's close.  Jul 19 Wheat closed at $4.45/bushel, up $0.0325 from yesterday's close.&nbs...

Neonicotinoid Insecticide Ban May End Rapeseed Crops in the EU The EU restricted the use of three neonicotinoid insecticides on flowering plants beginning...

Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS  As of 15 April, Egypt had bought approximately 365,000 MT of local wheat against its purchase tar...

Grain and oilseed markets came back from the long Easter holiday weekend in a slightly bearish mode overnight and today with wheat the weakest. Weather for...

Polarized WTO It is not just politics in the U.S. and Europe that are polarized – so is the global trading system. India plans to host developing cou...

May 19 Corn closed at $3.5475/bushel, down $0.0375 from yesterday's close.  Jul 19 Wheat closed at $4.4175/bushel, down $0.065 from yesterday's close...

NOAA updates its long-term weather forecasts near the end of each month, and the April updates were released late last week. There have been some concerns...

Soybeans Market Overview The soybean market was very slow last week as it was shortened by the Easter-related holiday. It was even slower today as Monday i...

Milling Wheat The Black Sea market was weaker last week in the absence of fresh demand. Consumers in the major destinations are more or less covered until...

USDA released the monthly Cattle on Feed (COF) report for 1 April on Thursday, which was a day early because of the Good Friday holiday. The mostly neutral...

The markets are closed tomorrow, 19 April 2019 in observance of Good Friday. Please note that our office will also be closed that day, and the next Ag Pers...

Note: CME grain and soy markets are closed tomorrow (Friday) and will re-open Easter Sunday evening. U.S. government offices will be open tomorrow, however...

Wheat:  Net sales of 317,700 metric tons for delivery in the 2018/2019 were up 16 percent from the previous week, but down 28 percent from the prior 4...

Cherry-Pick USMCA The economic analysis of the U.S.-Mexica-Canada Agreement (USMCA) by the U.S. International Trade Administration was released today and g...

April 1 2019 Cattle on Feed totaled 12.0 million head; 2 percent above April 1, 2018. This is the highest April 1 inventory since the series began in 1996...

USDA’s National Agricultural Statistical Service (NASS) conducts a census of U.S. production agricultural every five years. The most recent one, comp...

May 19 Corn closed at $3.585/bushel, up $0.0025 from yesterday's close.  May 19 Wheat closed at $4.4425/bushel, down $0.0275 from yesterday's close.&n...

U.S. Soy Export Sales Highlights Today’s USDA export sales report for the week ending 11 April indicated U.S. soybean sales were up from the previous...

With the Good Friday holiday tomorrow, USDA will release the monthly Cattle on Feed report, detailing the number on feed as of 1 April, today after the mar...

After yesterday’s lashing, the grain and soy futures markets tried to rally during the overnight session. Corn and soybeans gained a few cents, and w...

The Outsized Burden Cuba is a small island country that imposes an outsized burden on U.S. politics, but this is declining. Historically, there were two pr...

Russian Grain Markets: 8-12 April 2019 Domestic prices fluctuated in the South and Volga Valley but mostly decreased in other regions. The average milling...

May 19 Corn closed at $3.5825/bushel, down $0.0075 from yesterday's close.  May 19 Wheat closed at $4.47/bushel, up $0.02 from yesterday's close. ...

The consumer is often said to be the backbone of the U.S. economy, and that looks to be a positive factor for the food and agricultural sectors. The U.S. C...

For the second day of this holiday-shortened week, the overnight session produced minor losses for grain and the soy complex amid extremely light trading v...

Two Ships Passing Yesterday EU Trade Minister Cecilia Malmström declared that with the new negotiating mandate, she is prepared to sit down immediatel...

India’s Vegoil Refiners Push Lower Tariff Rates for Crude Palm Oil The Solvent Extractors Association (SEA) of India is pushing the government to low...

May 19 Corn closed at $3.59/bushel, down $0.0375 from yesterday's close.  May 19 Wheat closed at $4.45/bushel, down $0.145 from yesterday's close.&nbs...

China and weather are the topics that have dominated market chatter for the last several weeks, but they have not generated a breakout movement of grain an...

Sometime in the next six to eight weeks, the EPA will propose the Required Volume Obligations (RVOs) for 2020 under the Renewable Fuel Standard (RFS). The...

Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Egypt had rejected a cargo of French wheat due to high ergot levels, but the 63,000 MT were found to be...

Soybeans Market Overview Chinese demand remains very slow. There was some tepid interest for nearby positions, but basis has continued to drop in Argentina...

Overnight trading had corn and soybean markets higher with wheat markets slightly lower, and the only thing that changed during today’s session was a...

German Finance Minister and Vice Chancellor Olag Scholz told his audience at the Peterson Institute in Washington that transatlantic partners should not ge...

An article from Bloomberg over the weekend (click here) about the potential long-term impact of African swine fever (ASF) on world soybean demand didn&rsqu...

May 19 Corn closed at $3.6275/bushel, up $0.0175 from yesterday's close.  May 19 Wheat closed at $4.595/bushel, down $0.05 from yesterday's close.&nbs...

Preliminary negotiations on a new free trade agreement (FTA) between the U.S. and Japan commenced today. Since the U.S. withdrew from the Trans-Pacific Par...

Milling Wheat The Black Sea market once again remained about unchanged last week. Russia’s domestic prices are reportedly around $3-4/MT higher. It h...

The U.S. Energy Information Administration (EIA) released its monthly Short-Term Energy Outlook (STEO) this week. The agency trimmed back both production a...

Asia Perspectives President Donald Trump said yesterday that North Korea will remain under sanctions but that he believes an agreement with Pyongyang will...

Trading volume was light today. Corn and wheat were slightly lower through most of the day, while soybeans traded a penny or two higher for a brief time an...

May 19 Corn closed at $3.61/bushel, up $0.01 from yesterday's close.  May 19 Wheat closed at $4.645/bushel, up $0.04 from yesterday's close.  May...

USDA announced this week that it will make some changes (noted below) to the monthly WASDE (supply and demand estimates) starting with the May report. Whil...

Soybeans and corn were about unchanged in low volume overnight trading, while wheat was up a couple of pennies. The market was waiting for the export sales...

After a few weeks out of the market, China purchased 77,700 MT of U.S. pork last week. That makes it the number three destination (behind Mexico and Korea)...

Can’t Walk the Talk German Finance Minister Olaf Scholz is in Washington for the spring meetings of the International Monetary Fund (IMF) and World B...

U.S. Soy Export Sales Today’s U.S. export sales report for the week ending 4 April indicated a substantial drop for soybeans from the previous week...

Environmentalists and climate warriors have long targeted agriculture, particularly intensive animal agriculture, as a prime source of greenhouse gases and...

May 19 Corn closed at $3.6/bushel, down $0.0175 from yesterday's close.  May 19 Wheat closed at $4.605/bushel, up $0.025 from yesterday's close. ...

Wheat:  Net sales of 273,000 metric tons for delivery in the 2018/2019 were down 61 percent from the previous week and 37 percent from the prior 4-wee...

Such changes as were made in yesterday’s April WASDE were uniformly bearish – lower use, larger stocks, bigger South American production, more...

USDA Secretary Sonny Perdue yesterday called the EU a “technology-free zone” when it comes to agriculture. It is true that Europe’s resis...

Russian Grain Markets: 1-5 April 2019 Domestic grain prices fluctuated in RUB expression but decreased in USD expression due to the weaker ruble. The avera...

Oilseeds Soymeal Inventory Reverses Course as Feed Demand Improves Modest improvements in feed demand last week coupled with a drop in imported soybean sto...

Soybean oil changes include increased imports and domestic disappearance for biodiesel and for food use, and lower ending stocks. Soybean oil price is proj...

The April 2019 WASDE was mostly neutral the grains complex but bullish soyoil as USDA’s changes offered few surprises. The CBOT had a weaker tone bef...

USDA estimates that global oilseed ending stocks are up 1.5 million tons to 123.2 million, largely due to higher soybean stocks for Brazil and rapeseed sto...

Ethanol producers were already dealing with building inventories, lower blending rates and cheaper crude oil (U.S. crude production was up 17 percent in 20...

USDA estimates that U.S. soybean supply and use changes in the April WASDE include lower imports, higher seed use, and lower ending stocks. With soybean cr...

Flights of Fancy In response to a recent WTO ruling on respective subsidies for Airbus and Boeing aircraft, USTR announced the proposed retaliatory tariffs...

- Today is WASDE day with USDA’s release of this month’s edition. The April WASDE is normally uneventful with South American crop production le...

USDA estimated the 2018/19 outlook for U.S. corn is for lower feed and residual use, reductions in corn used for ethanol and exports, and larger stocks. Fe...

USDA estimates that the outlook for 2018/19 U.S. wheat is unchanged in the April WASDE. Total 2018/19 feed and residual use is lowered 10 million bushels t...

Relatively Few Significant Changes to Soy Sector in WASDE USDA made very few changes to its supply and distribution tables for the soy sector in the April...

May 19 Corn closed at $3.6/bushel, up $0 from yesterday's close.  May 19 Wheat closed at $4.595/bushel, down $0.0575 from yesterday's close.  May...

Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS The latest USDA-FAS report on Turkish grains indicates that better rainfall through February 2019 versu...

There are important anomalies in the cattle and beef markets this year. Futures have shown amazing strength, buoyed largely by export demand. Now as fed ca...

Grain and oilseeds markets were mixed to start the week in the Sunday night session. Soybeans traded slightly higher through most of the night with corn st...

A large majority of respondents in WPI’s most recent survey do not expect a global recession by 2020 (see graph below).  Meanwhile, U.S. farmer...

- It appears that wet weather will continue to cause planting delays across the northern Plains and the Corn Belt. The two maps below show the five-and sev...

With the second quarter of 2019 underway, the House is moving toward a restoration of the biodiesel tax credit (BTC), which expired 31 December 2017. A bil...

Soybeans Market Overview Brazilian basis has been dropping due to lack of Chinese demand. Although board crush margins aren’t bad in China, soymeal a...

May 19 Corn closed at $3.6/bushel, down $0.025 from yesterday's close.  May 19 Wheat closed at $4.6525/bushel, down $0.025 from yesterday's close.&nbs...

Milling Wheat The Black Sea market was again about unchanged last week. Russia’s exports have reached approximately 31.5 MMT since the start of the c...

This past Wednesday the House Budget Committee passed its legislation to amend the budgeting process for the next two years (FY 2020 and FY 2021). The auth...

Difficult Tea Leaves President Trump previously laid down a hard 90-day deadline for reaching a trade agreement with China, but now he says one could arriv...

Markets were weak overnight and more so today as the trade again grew weary of all the positive talk regarding the U.S. China dispute with still no real de...

May 19 Corn closed at $3.625/bushel, down $0.0275 from yesterday's close.  May 19 Wheat closed at $4.6775/bushel, down $0.03 from yesterday's close.&n...

There have been numerous news stories about the expanding financial crises in U.S. agriculture. Many of these stories were instigated by the Trump tariffs...

It is a waiting game. Agricultural interests of nearly every variety hope that this afternoon’s meeting between Chinese Vice-Premier Liu and Presiden...

Broiler and Feed Demand Outlook Last week’s USDA Chicken and Egg report showed that broiler-type chicks hatched in February were 102.1 percent of las...

U.S. presidential candidates racing for the Democratic Party nomination are proposing major electoral reforms to strengthen outcomes in their favor. The id...

For the past two years, grain and soy futures market prices have been knocking about in a series of relatively narrow price ranges. This is not to say that...

May 19 Corn closed at $3.6525/bushel, up $0.025 from yesterday's close.  May 19 Wheat closed at $4.7075/bushel, down $0.0025 from yesterday's close.&n...

U.S. Soy Export Sales Highlights Export sales for the week ending 28 March were significantly higher for U.S. soybeans, and they were also up for soymeal a...

Wheat:  Net sales of 704,700 metric tons for delivery in the 2018/2019 were up 48 percent from the previous week and 70 percent from the prior 4-week...

It was another day of quiet, low volume, wait-and-see trade in grain and soy complex futures. Prices were a bit higher across the board overnight, but they...

Franco-American Battle French President Emmanuel Macron is stymieing agreement in Brussels on the EU’s trade negotiating mandate with the U.S. He wan...

Livestock China’s Average Live Pig Price Rises Another 3.5 Percent China’s national average live pig price climbed 3.5 percent from the previou...

May 19 Corn closed at $3.6275/bushel, up $0.0125 from yesterday's close.  May 19 Wheat closed at $4.71/bushel, up $0.07 from yesterday's close. ...

Russian Grain Markets: 25-29 March 2019 The average grain prices on the domestic market continued to drop in RUB expression for the most part. However, the...

There was an effort to continue yesterday’s rally overnight. However, enthusiasm faded rather quickly as markets settled into mundane trade with soyb...

Fake Issue Campaign During the 2016 campaign, candidate Donald Trump manufactured many fake issues such as illegal immigrants causing a crime wave and NAFT...

Datagro Forecasts Brazilian Soy Crop at 113 MMT The Brazilian firm Datagro today raised its forecast for Brazil’s 2019 soybean crop from 112.1 MMT to...

May 19 Corn closed at $3.615/bushel, down $0.0025 from yesterday's close.  May 19 Wheat closed at $4.64/bushel, up $0.0125 from yesterday's close.&nbs...

Grain and soy complex futures markets are uninspiring these days with the exception of Friday’s reaction to USDA’s stocks and acreage reports...

The Senate is considering a $13.45 billion disaster relief bill for states impacted by natural disasters in 2017 and 2018 as well as the recent flooding in...

Today's Middle East, Mediterranean and Africa Regional Analysis report features an abbreviated set of tables due to an illness on the part of our regular c...

Corn and soybean markets found small measures of support in the Sunday night session, while wheat was mostly steady. Volume was good overnight, especially...

Ag Lags Economy Despite a trade war, a government shutdown, Brexit, declines in factory output and consumer spending plus other worries, the stock market h...

Soybeans Market Overview The market was slow last week with Chinese demand focused last Thursday on buying U.S. soybeans for July and August shipment, whic...

Last Friday USDA provided a much bigger 1 March quarterly stocks estimate for corn than anyone in the trade expected. The number came in at 270 million bus...

U.S. Red Meat Losing Ground in Japan It is the first day of the fiscal year in Japan, and duties on beef, pork and other commodities dropped under both the...

May 19 Corn closed at $3.6175/bushel, up $0.0525 from yesterday's close.  May 19 Wheat closed at $4.6275/bushel, up $0.05 from yesterday's close. ...

Milling Wheat The Black Sea market remained about unchanged last week. Russia has exported about 31 MMT so far this season, and most analysts are now estim...

The U.S. farm economy didn’t find any relief on the immediate horizon in today’s USDA acreage and quarterly stocks estimates (see today’s...

Today’s USDA planting intentions and quarterly stocks reports landed a tough one-two punch to the corn market. The former indicated that farmers inte...

Illogic on the Border With hundreds of Central American families overwhelming the southern U.S. border each day with asylum pleas, President Donald Trump m...

May 19 Corn closed at $3.565/bushel, down $0.175 from yesterday's close.  May 19 Wheat closed at $4.5775/bushel, down $0.0675 from yesterday's close.&...

The U.S. inventory of hogs and pigs on 1 March totaled 74.3 million head, 102 percent of last year. However, it was down slightly from 74.6 million head on...

As expected on the day before major USDA reports, overnight trading volume in grain and soy futures was subdued. In price action, soybeans were 2-3 cents h...

Failed Rural Strategy Some Democratic Party strategists have reasonably concluded that it is easier to court rural voters than to dissipate their political...

Hog Price “Hockey Stick” The impacts of African swine fever (ASF) in China are being felt in the hog market. Last week hog prices rebounded to...

Ever since the tit-for-tat tariff war between the U.S. and China began last July, the dispute has dominated the trade agenda within the Trump administratio...

Losses of Soybeans to Flooding It will be years before the damage done by the widespread floods in Nebraska, western Iowa and Missouri are overcome. Roads,...

May 19 Corn closed at $3.74/bushel, up $0.0025 from yesterday's close.  May 19 Wheat closed at $4.645/bushel, down $0.05 from yesterday's close. ...

WPI's monthly publication features analyses of U.S. agribusinesses, outlooks for the U.S. soybean crush and U.S. biofuels industry, and an assessment of ce...

Wheat:  Net sales of 475,700 metric tons for delivery in the 2018/2019 were up 59 percent from the previous week and 15 percent from the prior 4-week...

Last night’s session produced a story similar to that told by overnight trade of grain and soy futures for much of the last few weeks – mixed p...

Brexit Irony The UK remains in a state of dysfunction as politicians attempt to meet the demand of their constituents to leave the EU while understanding t...

Russian Grain Markets: 18-22 March 2019 Prices on the domestic market again declined in RUB expression but moved in different directions in USD expression...

May 19 Corn closed at $3.7375/bushel, down $0.035 from yesterday's close.  May 19 Wheat closed at $4.695/bushel, up $0.0025 from yesterday's close.&nb...

Livestock China’s Average Live Pig Price Soared 12 Percent Through Mid-March With all the chaos surrounding African swine fever (ASF), the publishing...

Grain and soy markets were quiet with little change in prices overnight. Soybeans were down 1-2 cents, corn was unchanged to fractionally lower, and Chicag...

GMOs’ Nuclear Epiphany The Union of Concerned Scientists, which doesn’t always use science in its public policy positions, has historically cri...

The 2018 Farm Bill legalized industrial production of hemp and its marketing as well as the marketing of its derivatives in interstate commerce. That, howe...

Grain and soy markets are dividing their focus between this week’s trade negotiations in Beijing and USDA’s reports on initial planting intenti...

Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Morocco’s central bank has indicated that the country’s grain production will be down about...

May 19 Corn closed at $3.7725/bushel, down $0.025 from yesterday's close.  May 19 Wheat closed at $4.6925/bushel, down $0.0025 from yesterday's close...

The weather markets have hit ethanol, providing some welcomed price relief. The flooding in the Corn Belt has interrupted shipping/delivery and given a bum...

It was another very quiet start to the week overnight with soybeans slightly higher, corn steady and wheat slightly lower. Markets opened steady across the...

Mueller’s Gift Special Counsel Robert Mueller’s report on the Trump administration and Russian interference in the 2016 election is complete, a...

Soybeans Market Overview The soybean market showed some movement for nearby positions last week as the Chinese looked to cover March, April, May and even s...

It seems that with so few noteworthy items that move markets these days, we might as well try to generate a weather market. That sounds very hard to do on...

May 19 Corn closed at $3.7975/bushel, up $0.015 from yesterday's close.  May 19 Wheat closed at $4.695/bushel, up $0.035 from yesterday's close. ...

Milling Wheat The Black Sea market was firmer last week as it followed the trend of EU and U.S. markets. Russia’s export pace has slowed to about 300...

USDA today released the monthly Cattle on Feed (COF) report for 1 March. It showed the total inventory in feedlots of 1,000 head or more capacity was 1.8 m...

Failed Tomato Farmers The most efficient way to grow tomatoes is in greenhouses or hot houses. Most Mexican tomatoes are grown this way, but Florida grower...

Corn and wheat markets were firm overnight, while the soy complex was weaker. That was the pattern for much of today’s markets as well. Cool, wet wea...

May 19 Corn closed at $3.7825/bushel, up $0.02 from yesterday's close.  May 19 Wheat closed at $4.66/bushel, down $0.005 from yesterday's close. ...

USDA estimates:  Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 11.8...

A great deal of proverbial water has passed under the bridge since WPI wrote about our initial soybean outlook for MY 2019/20 on 14 January Not very much h...

The overnight session continued the recent trend of low trading volume and narrow, mixed price movement. This occurred as traders await developments from n...

Two new reports out this week present government policymakers with informative but confusing insights on public perceptions. The United Nations issued its...

The release tomorrow of USDA’s Cattle on Feed report gets the monthly series back on schedule after the government shutdown. It will show the total n...

Grain/soy futures and cash markets have maintained a relatively low price profile for two years or more. Low grain and soy prices have been a major contrib...

U.S. Soy Export Sales Update After weeks of substantial sales, USDA’s weekly export sales report indicated there was a sharp drop for the week ending...

May 19 Corn closed at $3.7625/bushel, up $0.0475 from yesterday's close.  May 19 Wheat closed at $4.665/bushel, up $0.0175 from yesterday's close.&nbs...

Wheat:  Net sales of 298,600 metric tons for delivery in the 2018/2019 marketing year were reported for South Korea (75,500 MT), Sri Lanka (65,000 MT,...

It has been more low and slow trade overnight and again today. Wheat is the star of the day with the May contracts for Chicago and KC both closing up 8.25...

China Enforcement Problems President Trump says the U.S. will keep punitive tariffs on China to ensure it keeps its commitments. USTR Lighthizer reportedly...

Russian Grain Markets: 11-15 March 2019 Domestic grain prices decreased in RUB expression but moved in different directions or remained unchanged in USD ex...

May 19 Corn closed at $3.715/bushel, up $0.0025 from yesterday's close.  May 19 Wheat closed at $4.6475/bushel, up $0.0825 from yesterday's close.&nbs...

Export Trends Year-End USDA Data Shows Trade Winners and Losers Following delays caused by the 35-day partial U.S. government shutdown, USDA has now manage...

Overnight trading was a mixed and low volume affair. The grains were slightly higher, and soybeans were just below Monday’s close. None of the lead c...

One of the darlings of the investment world is the emerging sector of agtech. Investment is flowing to a number of discrete markets and technologies,...

Brazil Progress, OECD Concerns Today’s joint statement by U.S. President Donald Trump and Brazilian President Jair Bolsonaro had some good news for A...

Having commented so often about U.S.-China trade relations and the ongoing negotiations, we fear we risk boring clients. However, the trade negotiations ar...

Global Soy Demand May Take Big Hit from African Swine Fever The widespread outbreak of African swine fever (ASF) is now well known, and it continues unabat...

May 19 Corn closed at $3.7125/bushel, down $0.0025 from yesterday's close.  May 19 Wheat closed at $4.565/bushel, down $0.0025 from yesterday's close...

Not a WPI client? Please email Matt at mherrington@agrilink.com or subscribe to Ag Perspectives: International or Ag Perspectives: All Acces...

Markets were weaker to start the Sunday evening session, and that negative trading pattern persisted throughout today. As another analyst wrote, the market...

Drowning Transatlantic At 8.4 kilometers (5.2 miles) deep, the Puerto Rico Trench is the deepest point in the North Atlantic Ocean. Transatlantic relations...

There have been changes to the 2018/19 corn balance sheet since our first look at the potential supply/demand outlook on 18 January. USDA reduced the expor...

Soybeans Market Overview There was some movement at the beginning of last week when Chinese crushers decided to cover their open positions for March, April...

May 19 Corn closed at $3.715/bushel, down $0.0175 from yesterday's close.  May 19 Wheat closed at $4.5675/bushel, down $0.055 from yesterday's close.&...

Even though the EU-U.S. trade agreement talks are not moving apace, largely because of the EU reluctance to include agriculture versus U.S. insistence that...

Milling Wheat The Black Sea market has reversed the downward trend it had been following since January. The buyers/consumers have certainly appreciated the...

The EPA announced yesterday that it had granted five additional small refinery exemptions (SREs) for 2017, reducing the number of pending petitions in the...

Against the Grain Demographics are destiny, and with 60 percent of the world’s population and some of its fastest-growing economies, this is supposed...

May 19 Corn closed at $3.7325/bushel, up $0.03 from yesterday's close.  May 19 Wheat closed at $4.6225/bushel, up $0.095 from yesterday's close. ...

Corn and soybean markets were steady to slightly higher overnight with wheat 1-2 cents lower. Soybean futures led the markets all higher this morning on an...

- Grain and oilseed markets were firm today, mostly on growing chatter that the U.S. and China are very close to reaching an agreement on trade. The devil...

Trump’s China Mystery U.S. President Donald’s Trump’s characterization of his negotiations with the Chinese are not adding up unless Xi&r...

Traders showed more interest in the overnight session. Volume was not back to Tuesday’s level, but it was notably higher than Wednesday’s. Pric...

China Buys Pork amid Outlook for Bigger Trade Agreement While the U.S.-China trade talks continue, the most recent weekly export sales report from USDA sho...

The next U.S. presidential election occurs in about 20 months, but the campaign season is already well underway. President Donald Trump is more than halfwa...

May 19 Corn closed at $3.7025/bushel, up $0.0375 from yesterday's close.  May 19 Wheat closed at $4.5275/bushel, up $0.055 from yesterday's close.&nbs...

U.S. Soy Export Sales Highlights Today’s USDA weekly export sales report indicated U.S. exporters were quite successful selling soybeans to China and...

Wheat:  Net sales of 263,000 metric tons for delivery in the 2018/2019 marketing year were reported for Nigeria (106,300 MT, including 24,000 MT switc...

NASS has decided to no longer conduct actual field surveys in compiling production and yield estimates for corn and soybeans in the August WASDE as they ar...

Creative Destruction It is often said that it is easier to use government to stop something from happening than to use it to make something happen. Some me...

Russian Grain Markets: 4-7 March 2019 Grain prices on the domestic market mainly decreased under pressure from negative trends on the export market. The av...

May 19 Corn closed at $3.665/bushel, up $0.0075 from yesterday's close.  May 19 Wheat closed at $4.4725/bushel, down $0.0575 from yesterday's close.&n...

Marco Trends February Economic Data Points to Serious Weakness Data from China’s National Bureau of Statistics indicates the country’s Purchasi...

It was a vivid “Turnaround Tuesday” for grain and soy markets after Monday’s dive to test recent lows and, in some case, set new record l...

Year-Round E15 and RIN Reform Proposed The EPA released its proposed waiver for year-round E15 use today. As previously reported (click here), it will now...

Anti-Reform’s Fishy Excuses USTR Robert Lighthizer told the Senate Finance Committee that the WTO rules are out of date and need reform. This is evid...

Conab Reduces Brazilian Soybean Crop Estimate Conab, Brazil’s crop supply agency, today reduced its estimate for the country’s 2019 soybean cro...

May 19 Corn closed at $3.6575/bushel, up $0.0375 from yesterday's close.  May 19 Wheat closed at $4.53/bushel, up $0.245 from yesterday's close. ...

It has been a very tough few weeks for grain and soy market bulls, assuming there are still any left. Those markets have been in a rather steady retreat wi...

Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS The Egyptian GASC has rejected a shipment of Romanian wheat, saying that it does not meet tender specif...

Soybeans Market Update Last week China finally decided to buy more U.S. soybeans, purchasing approximately 2 MMT. The stocks were mainly from the Pacific N...

China Purchasing Commitments One of the Trump administration’s goals in negotiating a trade deal with China is to get Beijing’s commitment to b...

Corn, wheat and soybean started ever so slightly firmer Sunday evening and then traded mixed the rest of the night. All the markets started today’s s...

Last week’s Commitment of Traders (COT) report confirmed that funds (i.e., managed money) continued to expand their short positions in corn, soybeans...

The president released his proposed FY 2020 budget today. It provides another salvo in the border wall fight along with about $27 billion in cuts for USDA...

May 19 Corn closed at $3.62/bushel, down $0.0225 from yesterday's close.  May 19 Wheat closed at $4.285/bushel, down $0.11 from yesterday's close.&nbs...

Milling Wheat The Black Sea market continues to erode in sympathy with the MATIF and CBOT futures. Russia has exported approximately 29.5 MMT since the sta...

According to USDA: U.S. 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...

According to USDA: With increased crush, soybean oil production is raised 115 million pounds to 24.6 billion.  Soybean oil used for methyl ester produ...

According to USDA:  Soybean crush is raised 10 million bushels to 2,100 million on higher domestic disappearance of soybean meal and a lower soybean m...

According to USDA: U.S. soybean supply and use changes for 2018/19 include higher crush and lower ending stocks compared with last month’s report.&nb...

USDA’s Cattle on Feed (COF) report for 1 February was released today after being delayed by the government shutdown (the 1 March report will be issue...

According to USDA:  This month’s 2018/19 U.S. corn outlook is for lower corn used for ethanol, reduced exports, and larger stocks.  Corn us...

According to USDA: The outlook for 2018/19 U.S. wheat this month is for larger supplies, lower exports, reduced domestic use, and higher ending stocks.&nbs...

Wisdom of Traders Sometimes it takes 50 yeas of experience in an industry to have the wisdom and courage to speak the truth. Derek Chambers, a semi-retired...

May 19 Corn closed at $3.6425/bushel, down $0.01 from yesterday's close.  May 19 Wheat closed at $4.395/bushel, up $0.0125 from yesterday's close.&nbs...

Markets tried to be slightly better overnight and this morning in hope that today’s USDA’s reports might contain some positive news. There was...

The February and March USDA WASDE (supply and demand) estimates rarely make any significant changes as they come during a dead spot in world markets and gr...

Overnight trading volume improved, but price movement was limited. Corn and wheat were lower, while soybeans firmed by a few cents ahead of the trading rec...

India Doubles Down Brazil and Australia have requested WTO dispute consultations with New Delhi, charging that India’s sugar subsidies exceed its com...

Normally, the March WASDE competes for being the least exciting issue of the year. With the South American harvest already underway, it is positioned betwe...

U.S. Soy Export Sales Highlights Today’s USDA’s export sales report for the week ending 28 February indicated the total for soybeans was far be...

May 19 Corn closed at $3.6525/bushel, down $0.0725 from yesterday's close.  May 19 Wheat closed at $4.3825/bushel, down $0.1175 from yesterday's close...

USDA will release its monthly Cattle on Feed report tomorrow after the market closes. Pre-report estimates from the industry peg the total number on feed a...

Wheat:  Net sales of 621,700 metric tons for delivery in the 2018/2019 marketing year were reported for Mexico (156,600 MT, including decreases of 13,...

Yesterday’s firmer market did not have the legs to carry over into the night session. Grain and soybean values turned lower in overnight trade with c...

Communist Marketing Russian Federal Customs Service official Rusian Davydov says he wants to extend the 2014 food embargo restriction to include meat and o...

Russian Grain Markets: 25 February-1 March 2019 Domestic grain prices moved in different directions or remained stable, depending on the region. Export pri...

May 19 Corn closed at $3.725/bushel, down $0.0325 from yesterday's close.  May 19 Wheat closed at $4.5/bushel, down $0.1275 from yesterday's close.&nb...

Oilseeds Soymeal Inventory Climbs Again as Feed Demand Continues to Drop Despite a decline in soybean imports, China’s soymeal inventories continue t...

Grain and soy markets were soft overnight with corn, wheat and soybeans trading slightly below Tuesday’s close. Trading volume was quite low. The day...

Leveraging Tariffs President Trump announced the expected by saying India and Turkey will lose beneficiary status under the Generalized System of Preferenc...

E15 and SREs  Yesterday the EPA submitted its proposal for year-round E15 use to the Office of Management and Budget (OMB) for sign-off. As noted here...

The main driver of both soybean import demand and soymeal consumption since 2000/01 has been China. Because of the recent trade dispute with the U.S. and o...

Sources in the Trump administration and the press indicate that a new trade agreement with China is nearly complete. U.S. and Chinese trade negotiators are...

May 19 Corn closed at $3.7575/bushel, up $0.01 from yesterday's close.  May 19 Wheat closed at $4.6275/bushel, up $0.0725 from yesterday's close. ...

Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS In Yemen, a U.N. World Food Program team is said to have reached the grain silos near Hodeida. It repor...

The FY 2020 budget process in Congress has begun. Under the Congressional Budget Act of 1974 (Section 301(d)), each of the congressional authorizing commit...

Corn and soybean futures were higher in the Sunday evening session with wheat steady, and that is the way the market opened this morning as well. There was...

Transatlantic Jostling The Trump administration’s move to tighten sanctions on Cuba concurrently is aimed at Europe. U.S. National Security Advisor J...

Soybeans Market Overview Last week was a strange one for the market. President Trump had threatened to raise duties on imports from China if there was no r...

Corn and wheat options are bullishly positioned following last week’s news of a potential $50-billion agreement between the U.S. and China. Soybean t...

May 19 Corn closed at $3.7475/bushel, up $0.0175 from yesterday's close.  May 19 Wheat closed at $4.555/bushel, down $0.0175 from yesterday's close.&n...

The initial (and minimum) price guarantees for the crop revenue insurance program, which represent the daily average of the new crop futures during the mon...

Milling Wheat The Black Sea market was under pressure last week as it followed the decline of the EU and U.S. markets. Russia is exporting about 500 KMT pe...

Trade War to Worsen Uncertainty around trade has been a burden to the U.S. economy, especially to farmers, and yet more trouble appears to be coming. Follo...

Corn was steady, soybeans were higher, and wheat was lower overnight in light trading volume. Everything was then lower after the first hour of the day ses...

May 19 Corn closed at $3.73/bushel, up $0.0225 from yesterday's close.  May 19 Wheat closed at $4.5725/bushel, down $0.0225 from yesterday's close.&nb...

There has been much consternation about the pace of U.S. export sales and shipments for the current marketing year. Interestingly, corn and wheat prices ha...

There’s been a spate of activity on Capitol Hill of late on some high-profile ag policy issues. Below is an end-of-the week recap. E15 Waiver In test...

Grain and soy futures were mixed overnight with wheat trying to rally (again), soybeans a bit weaker and corn stuck in between. Trading volume was not impr...

Farm Subsidy Rulings A WTO dispute settlement panel concluded that China violated its obligations by excessively subsidizing wheat and rice production. Rea...

USDA released its Cattle Inventory report today, approximately a month late due to the government shutdown. This follows last Friday’s delayed releas...

With the release this morning of the USDA/FAS export sales report for the week ending 21 February, these reports are back to their regular schedule for the...

U.S. Soy Export Sales Highlights Today’s release of the USDA weekly export sales report for the week ending 21 February indicated unexpectedly large...

May 19 Corn closed at $3.7075/bushel, down $0.03 from yesterday's close.  May 19 Wheat closed at $4.595/bushel, down $0.0725 from yesterday's close.&n...

WPI's monthly publication features analyses of U.S. agribusinesses, the U.S. farm equipment industry, the U.S. meat and livestock industry, the global outl...

Wheat:  Net sales of 476,400 metric tons for delivery in the 2018/2019 marketing year were reported for Indonesia (170,000 MT), the Philippines (74,10...

Corn and soybean futures prices were fractionally firmer overnight, while wheat prices sought to recover at least a sliver of their February losses. Chicag...

Anti-Competition The U.S. dairy industry complains that the EU’s effort to codify geographic indicator (GI) protection for its various cheese product...

Russian Grain Markets: 18-22 February 2019 Domestic grain prices fluctuated insignificantly, but the average milling wheat export price dropped $6/MT to $2...

May 19 Corn closed at $3.7375/bushel, down $0.0225 from yesterday's close.  May 19 Wheat closed at $4.6675/bushel, down $0.015 from yesterday's close...

Oilseeds Soymeal Inventory Up Slightly as Downstream Demand Falters While China’s central government lifted quarantine restrictions toward the end of...

Overnight trading saw grain and soy prices leak slightly lower following Monday’s big losses. Notable was corn open interest, which fell nearly 69,00...

Low Art of Rhétorique There is much to parse from French President Emmanuel Macron’s speech to the annual Salon International de l’Agric...

Mar 19 Corn closed at $3.6625/bushel, down $0.0425 from yesterday's close.  May 19 Wheat closed at $4.6825/bushel, down $0.045 from yesterday's close...

If futures markets were to perform logically all the time, they would not be needed. Furthermore, what seems logical to some may seem completely weird to o...

Making Sense of China’s Soy Purchases and Demand Last Friday USDA Secretary Sonny Perdue said China’s vice premier had committed that country t...

The U.S. Energy Information Administration (EIA) has proposed revamping its data collection surveys and reporting process on fuel supplies, production, dis...

Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Pakistan’s wheat export tender of last week has reportedly received a poor response. It was said...

Fear Your Food The “fear your food” movement has made its mark when it prompts a rant from the top cabinet officer at USDA’s annual Outlo...

As it always does, USDA used its Annual Outlook Forum last week in Washington, DC to update its 10-year baseline projections. The trade of course pays the...

Soybeans Market Overview After a few weeks of good activity with strong purchases from China, the markets were very quiet last week as the U.S.-China trade...

Mar 19 Corn closed at $3.705/bushel, down $0.0475 from yesterday's close.  May 19 Wheat closed at $4.7275/bushel, down $0.19 from yesterday's close.&n...

More positive news during the weekend regarding the prospects for an agreement to end the U.S.-China trade conflict buoyed the soybean complex both last ni...

The SRW wheat and live cattle options markets are showing unusual patterns that suggests these markets should be watched carefully. The corn market remains...

USDA Secretary Sonny Perdue will testify before the House Agriculture Committee on 27 February regarding the state of the farm economy. With trade tensions...

Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 11.7 million head on Janua...

In a day full of new fundamental data, it was policy expectations that ruled the CBOT. Corn and soybean futures were mixed and largely lackluster in today&...

End is Near President Trump’s trade war may or may not eventually bring larger economic gains, but its near-term costs are being tallied. U.S. farmer...

Mar 19 Corn closed at $3.7525/bushel, down $0.0025 from yesterday's close.  May 19 Wheat closed at $4.9175/bushel, up $0.0075 from yesterday's close.&...

The Producer Price Index (PPI), which measures the price received by producers when they sell their output, fell for the second consecutive month in Januar...

USDA lowered its estimates for production, imports and exports of beef, which fits with the narrative of a commodity facing threats all around. Every day t...

Higher Early Sugar Production and Slow Exports Could Pressure Prices Due to the early start of the 2018/19 sugarcane crushing season, Indian sugar mills we...

Wheat:  Net sales of 3,574,800 metric tons for delivery in the 2018/2019 marketing year were reported for Nigeria (444,400 MT, including 24,000 MT swi...

USDA’s annual Agricultural Outlook Forum opened its two-day run this morning. “Growing Locally, Selling Globally” is the 2019 theme. USDA...

Livestock and Feed Projections USDA’s 95th Agricultural Outlook Forum kicked off today in Washington, DC, which is the official rollout of its 10-yea...

Indo-American Trade War Unlike many other governments, New Delhi had been holding off on counterretaliation against the Trump administration’s Sectio...

As has been widely reported, U.S. and Chinese trade negotiators are meeting in Washington this week to push toward some sort of agreement on trade before t...

Trade Deal May Reopen Chinese Market for DDGS U.S. and Chinese negotiators met again today in Washington in an effort to reach an agreement that ends the o...

Mar 19 Corn closed at $3.755/bushel, up $0.0475 from yesterday's close.  Mar 19 Wheat closed at $4.865/bushel, up $0.0575 from yesterday's close. ...

Today’s markets faced a number of crosscurrents. Besides spreading in China, African swine fever (ASF) has appeared in Vietnam and could well spread...

Carousel Redux Frustrated that the $3 billion in counter-retaliatory duties it imposed on U.S. products has failed to change the Section 232 duties imposed...

Russian Grain Markets: 11-15 February 2019 Domestic grain prices either moved in mixed directions or remained stable. Meanwhile, the average milling wheat...

Mar 19 Corn closed at $3.7075/bushel, up $0.01 from yesterday's close.  Mar 19 Wheat closed at $4.8075/bushel, down $0.09 from yesterday's close. ...

Macro Trends Lower Food Prices Push Inflation Down in January With China’s major holiday occurring just around the corner in February, the country ty...

Following the holiday, grain and soy markets began the overnight session just a bit firmer. That lasted until some selling pressure emerged in wheat, which...

The U.S. Energy Information Administration (EIA) released its February Short-Term Energy Outlook (STEO) last week. Those projections offer a glimmer o...

Indonesian President Promises to Move to B-100 if Reelected Indonesian President Joko Widodo said in a debate that if reelected, he wants to move from requ...

Despite being shortened by the Presidents Day holiday, this should be an interesting week with another “data dump” featured on 22 February. Fir...

Mar 19 Corn closed at $3.6975/bushel, down $0.05 from yesterday's close.  Mar 19 Wheat closed at $4.8975/bushel, down $0.145 from yesterday's close.&n...

Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Desert locust outbreaks in Saudi Arabia and Egypt are a concern for crops. Much rainfall and strong win...

China Naysayers As Washington and Beijing work toward completing a trade deal, it is clear that not all the U.S. objectives will be accomplished to the sat...

Today the president signed the appropriations bill that will cover the remainder of FY 2019 (through 30 September). The package was passed yesterday in the...

Corn and soybean markets were just slightly firmer overnight with wheat slightly lower following yesterday’s fund-related sell-off. Today then saw co...

Mar 19 Corn closed at $3.7475/bushel, up $0 from yesterday's close.  Mar 19 Wheat closed at $5.0425/bushel, down $0.0275 from yesterday's close. ...

Thursday’s weekly USDA export sales report, which contained small totals for corn, wheat and soybeans along with sales cancellations of the latter to...

Ample Soybean Supplies Expected to Result in 1 MMT Carryover While the government of India (GOI) has projected 2018/19 (October-September) soybean producti...

Overnight futures trade was limited in volume and price movement. Wheat was slightly weaker, while corn and soybeans hung around Wednesday’s closes...

Summer Supply Destruction The nomination of Andrew Wheeler to become the EPA administrator is being held hostage by a bipartisan and powerful group of sena...

U.S. beef exports hit record levels in 2018. However, tariffs reduced pork shipments, driving down values. These global demand dynamics are reflected in th...

U.S. Soy Export Sales Anyone who expected today’s USDA export sales report for the week ending 3 January to be positive for the soybean sector had to...

Wheat:  Net sales of 131,200 metric tons for 2018/2019--marketing-year low--were down 78 percent from the previous week and 76 percent from the prior...

President Donald Trump, a self-declared “Tariff Man,” has made the threat and use of tariffs one of the chief operating mechanisms of his admin...

Mar 19 Corn closed at $3.7475/bushel, down $0.04 from yesterday's close.  Mar 19 Wheat closed at $5.07/bushel, down $0.1525 from yesterday's close.&nb...

Grain and soy futures markets did very little overnight and again during the day session with volume and volatility in decline. In fact, we would rate toda...

U.S.-Brazil FTA, Not Newly-elected Brazilian President Jair Bolsonaro is a lean-right populist in the Donald Trump vein. This gives the two leaders a sense...

Russian Grain Markets: 4-8 February 2019 Domestic grain prices all increased except for a few that remained stable. However, the average milling wheat expo...

Mar 19 Corn closed at $3.7875/bushel, up $0.005 from yesterday's close.  Mar 19 Wheat closed at $5.2225/bushel, up $0.0225 from yesterday's close.&nbs...

Market Trends A Tale of Two Years With the shutdown of the U.S. government over (at least temporarily), its official statistics are now available to the ge...

Finnish Supply Destruction Commodity supply and demand forecasts almost uniformly forecast too much of the former and not enough of the latter. A similar s...

Markets are focused on two things – the trade talks this week in Beijing and the threat of another partial U.S. government shutdown on Saturday. Toda...

After a reported breakdown in the budget talks, the lead congressional negotiators met three times on Monday and finally reached what is being called an &l...

If there was surprise contained in the array of USDA reports released last Friday, it was how unremarkable they were. Analysts (including this one) assumed...

Mar 19 Corn closed at $3.7825/bushel, up $0.055 from yesterday's close.  Mar 19 Wheat closed at $5.2/bushel, up $0.0175 from yesterday's close. ...

Regional Updates MIDDLE EAS/MEDITERRANEAN COMMENTS Egypt’s Cairo3a Poultry, a major company in grain trading and poultry production with other intere...

Brazil Soy Crop Keeps Declining The size of the Brazilian soybean crop seems to decline with each passing week. Most estimates by government and private an...

The Sunday political talk shows painted a dim picture of the ongoing budget discussions between Congress and the administration. Appearing on one of them,...

Difficult negotiations go to the brink for a reason, and that dynamic is being revealed on numerous fronts. U.S. and Chinese trade negotiators are meeting...

The series of important and delayed USDA reports that were released last Friday did take some of the uncertainty away from the markets. The problem, though...

Markets started the week lower in the Sunday evening session with soybeans the weakest followed by wheat and corn. The lower pattern continued through to t...

Mar 19 Corn closed at $3.7275/bushel, down $0.015 from yesterday's close.  Mar 19 Wheat closed at $5.1825/bushel, up $0.01 from yesterday's close.&nbs...

Soybeans Market Update The market was very quiet last week in Brazil, and movement was focused in the U.S. with the Chinese government purchasing another 5...

Milling Wheat The Black Sea market remained about unchanged last week. Russia’s domestic market was about 200 rubles ($3)/MT higher. Its exports are...

The House Agriculture Committee met yesterday for its organizational meeting. Chairman Collin Peterson (D-Minnesota) laid out its agenda for the 116th Cong...

Mixed USMCA Signals Congressional Democrats are signaling both positively and negatively on the prospects for approval of the U.S.-Mexico-Canada Agreement...

Markets were generally better overnight and this morning following Thursday’s pre-USDA report sell-off. Yesterday’s losses were primarily the r...

All had been hoping that the long-awaited USDA reports released today (originally scheduled for publication on 11 January) would reveal new insight, create...

Mar 19 Corn closed at $3.7425/bushel, down $0.0225 from yesterday's close.  Mar 19 Wheat closed at $5.1725/bushel, up $0.04 from yesterday's close.&nb...

According to USDA: U.S. oilseed production for 2018/19 is estimated at 134.0 million tons, down 1.5 million from the previous report.  Smaller soybean...

According to USDA: The soybean crush forecast is raised 10 million bushels to 2,090 million.  Soybean meal production is unchanged as the higher crush...

According to USDA: Soybean production is estimated at 4,544 million bushels, down 56 million.  Harvested area is estimated at 88.1 million acres, down...

According to USDA: U.S. corn production is estimated at 14.420 billion bushels, down 206 million on reduction in yield to 176.4 bushels per acre. Harvested...

Cotton Imports to Surge on Lower Production; Prices Could Remain Depressed The Cotton Association of India (CAI) has now estimated cotton production in 201...

According to USDA: Projected 2018/19 wheat ending stocks are raised 36 million bushels on reduced feed and residual use and lower seed use.  Feed and...

After doing next to nothing for the first three trading days this week while awaiting tomorrow’s USDA reports, traders finally made a move today, and...

Mar 19 Corn closed at $3.765/bushel, down $0.035 from yesterday's close.  Mar 19 Wheat closed at $5.1325/bushel, down $0.1275 from yesterday's close.&...

U.S. Soy Export Sales Update USDA announced yesterday that exporters had sold an additional 586,000 MT of soybeans to China with all but 63,000 MT to be sh...

Uneven Distribution U.S. Farm Belt bankruptcies have reportedly reached a 10-year high as banks show their displeasure with producer balance sheets hammere...

Having been without significant scheduled data from USDA since 11 December because of the “lapse of funding” (as USDA politely puts it), it is...

Classical Swine Fever in Japan/ASF in China Cases of classical swine fever (CSF), also known as hog cholrea, have been detected in five prefectures in Japa...

This summary is based on reports from exporters for the period December 21-27, 2018. Wheat:  Net sales of 593,000 metric tons for 2018/2019 were up 15...

Agriculture played only a minor role in President Trump’s State of the Union speech last night. He cited the ongoing negotiations with China as an ex...

Russian Grain Markets: 28 January-1 February 2019 Domestic grain prices continued to increase with the exception of a few that remained steady. The slower...

In a classic article covering viewpoints from various European officials toward U.S. President Donald Trump, Washington Post reporters Dan Balz and Griff W...

Mar 19 Corn closed at $3.8/bushel, down $0.0075 from yesterday's close.  Mar 19 Wheat closed at $5.26/bushel, down $0.0125 from yesterday's close.&nbs...