United States Trade Representative (USTR) Jamieson Greer on Wednesday announced the initiation of investigations regarding the “acts, policies, and p...
Articles
Ethanol Production Outlook Amid Energy Rally
Yesterday, WPI briefly examined how biodiesel production margins have surged alongside broader energy markets following the U.S./Israel-Iran conflict. The...
Transportation Perspectives - 13 March
The conflict in the Middle East continues to dominate developments in energy markets and crude oil or natural gas tanker vessels, but as time passes the co...
Export Sales
Export Sales and Shipments for February 27-March 5, 2026. Wheat: Net sales of 455,400 metric tons (MT) for 2025/2026 were up noticeably from the prev...
Summary of Futures
May 26 Corn closed at $4.625/bushel, up $0.0225 from yesterday's close. May 26 Wheat closed at $5.985/bushel, up $0.0375 from yesterday's close. ...
Market Commentary: Energy Volatility Sets the Tone for Commodities
Key Market Developments Crude oil has been the architect behind the violent price swings seen across the grain markets over the last four trading sessions...
Livestock Round Up: CPI Overview
The Bureau of Labor Statistics (BLS) released the February Consumer Price Index (CPI) yesterday. During February, the CPI for all items increased by 0.3 pe...
Oilseed Highlights – Cargill vs. China; Biodiesel Margins Surge
Cargill Suspends Soybean Exports to China Cargill has stopped buying soybeans from Brazilian farmers following new regulatory and sanitary/phytosanitary re...
New, Old Approach; Scale Assault; Bumpy Road
New, Old Approach Having had its broad IEEPA approach to applying global tariffs shot down by the High Court, USTR announced yesterday that it is launching...
Transportation Perspectives - 12 March
The conflict in the Middle East continues to dominate developments in energy markets and crude oil or natural gas tanker vessels, but as time passes the co...
WASDE Soybeans - Mar 2026
USDA’s outlook for 2025/26 U.S. soybeans had increased imports and crush, but ending stocks remained unchanged from last month. The average ann...
WASDE Corn - Mar 2026
USDA’s outlook for 2025/26 U.S. corn outlook is unchanged from last month. Global corn ending stocks increased by 3.8 million metric tons to 292.8 mi...
WASDE Wheat - Mar 2026
USDA’s outlook for 2025/26 U.S. wheat supply and use categories are unchanged from last month. Global supplies increased modestly by 0.2 million tons...
Market Commentary: Easing But Not Ending Novelty and Risk
There were more modest volumes trading in today’s session, perhaps reflecting growing resilience and circumspection about geopolitical uncertainties...
Summary of Futures
May 26 Corn closed at $4.6025/bushel, up $0.08 from yesterday's close. May 26 Wheat closed at $5.9475/bushel, up $0.0375 from yesterday's close. ...
Black Sea Regional Analysis
Russian Grain Markets: 2–6 March 2026 During the week of 02–06 March, the Russian grains market stabilized and showed early signs of recovery a...
Market Commentary: Oil Volatility Drives CBOT More than WASDE
Usually, the day USDA releases its monthly world supply and demand report – known colloquially as “WASDE day” – sees heightened vol...
Summary of Futures
May 26 Corn closed at $4.5225/bushel, down $0.015 from yesterday's close. May 26 Wheat closed at $5.91/bushel, down $0.1225 from yesterday's close.&n...
China Market Analysis
Iran War The U.S. and Israeli attacks on Iran are said to complicate the visit later this month by President Trump to China. As an ally of Iran and a major...
Economic Outlook for 2026
The January jobs report surprised to the upside, coming in at 172,000 new jobs, well above the consensus expectation of 68,000. However, the February repor...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Middle Eastern countries have imported an average of close to 29 million MT of grains and...
AP Quant: WASDE Wheat
WPI offers the following PDF of key supply and demand tables and charts relating to the USDA’s latest WASDE report. This is not an all-inclusive comp...
AP Quant: WASDE Soybeans
WPI offers the following PDF of key supply and demand tables and charts relating to the USDA’s latest WASDE report. This is not an all-inclusive comp...
AP Quant: WASDE Corn
WPI offers the following PDF of key supply and demand tables and charts relating to the USDA’s latest WASDE report. This is not an all-inclusive comp...
Livestock Industry Margins
Beef packer margins improved sharply, with estimated net losses narrowing to -$111/head from -$206/head the prior week. The recovery was driven by another...
Summary of Futures
May 26 Corn closed at $4.5375/bushel, down $0.0675 from yesterday's close. May 26 Wheat closed at $6.0325/bushel, down $0.135 from yesterday's close...
Market Commentary: Crude Oil Rally and Crash Drives Whipsaw CBOT Action
The massive rally in energy markets remains the primary story underpinning ag markets. Front-month crude oil futures ripped higher overnight and traded abo...
Process Standards as NTBs; Nazi Food
Process Standards as NTBs California’s Prop 12, which a House Agriculture Committee-passed farm bill is supposed to override, restricts the sale of p...
Iran War Hits Fertilizer Supply and Disrupts SMP Trade
Today the war in Iran has hit its 10th day. Iranian forces have sustained their retaliatory strikes on US military assets and other key infrastructure in K...
Mercosur Regional Analysis
Corn The corn harvest is beginning to gain momentum in Argentina. So far, 7 percent of the area has been harvested, with the core corn region already reach...
CFTC COT Report Analysis
Friday’s CFTC report showed funds further expanding long positions across the major ag futures contracts for the seventh straight week. Funds added 1...
Market Commentary: War, Crude Oil Still Dominate
The geopolitics of war in Iran are said to now be eclipsing any market focus on next week’s USDA March WASDE report. Volumes were modest in today&rsq...
Summary of Futures
May 26 Corn closed at $4.605/bushel, up $0.07 from yesterday's close. May 26 Wheat closed at $6.1675/bushel, up $0.33 from yesterday's close. M...
Farm Bill Clears House of Representatives
After two days of mark-up, the so-called “skinny farm bill,” the Farm, Food, and National Security Act, cleared the House of Representatives Ag...
Middle East Grain Trade Trends
Somewhat lost in the current discussion over the impacts of the conflict in Iran and the Persian Gulf is the impact on grain trade. The region is not usual...
Transportation and Export Report - 5 March
As you might guess, it is all about the conflict in the Middle East this week when discussing anything connected to energy or freight markets. Rate estimat...
Summary of Futures
May 26 Corn closed at $4.535/bushel, up $0.0975 from yesterday's close. May 26 Wheat closed at $5.8375/bushel, up $0.155 from yesterday's close. ...
Market Commentary: Middle East Turmoil Keeps Commodities Higher
War-related upward pressure in petroleum prices continues to provide support to grain prices. Brent crude oil hit $85/barrel and WTI crude rose 8.5 percent...
Export Sales
Export Sales and Shipments for February 20-26, 2026. Wheat: Net sales of 203,100 metric tons (MT) for 2025/2026 were down 16 percent from the previous week...
Livestock Round Up: Preview of Feedlot Placements and Changing Canada Dynamics
Feeder cattle sales were up over a year ago in February, but much of that was due to February 2025 sales being light. Still, the increase in activity bears...
Transportation Perspectives - 5 March
As you might guess, it is all about the conflict in the Middle East this week when discussing anything connected to energy or freight markets. Rate estimat...
Market Commentary: Geopolitics, Energy, and Macro Correlations Shape Agricultural Markets
Key Market Developments Markets opened mixed after reports that Iran signaled a willingness to discuss ending the conflict with the United States. Sentimen...
Summary of Futures
May 26 Corn closed at $4.4375/bushel, down $0.0275 from yesterday's close. May 26 Wheat closed at $5.6825/bushel, down $0.0575 from yesterday's close...
Black Sea Regional Analysis
Russian Grain Markets: 23–27 February 2026 The Russian grain market turned bearish during the final week of February as global trends and heavy domes...
Old World Order; People Not Plants; Tariff Refunds
Old World Order The geopolitical impacts of the war on Iran continue, but Wall Street recovered today, aided by strong employment data. Iran announced a ba...
Market Commentary: Fundamentals in the Backseat; Conflict Impacts Driving Markets
Four days into the U.S.-Iran conflict, it is becoming apparent that the conflict will last longer than a few days, and impacts could be more widespread tha...
China Market Analysis
War and China The U.S. and Israeli attacks on Iran also involve China, tangentially if not directly. Iran has been supplying about 13.4 percent of China&rs...
Schumer Planning a Bill to Force Divestiture in Meat Industry
Senate Minority Leader Chuck Schumer (D-N.Y.) is currently seeking co-sponsors for a bill he will introduce as early as Thursday of this week, the Family G...