What You Need to Know: U.S. fertilizer production is highly concentrated, but concentration alone does not establish that producers are operating as a car...
Articles
Summary of Futures
Dec 26 Corn closed at $5.305/bushel, down $0.0375 from yesterday's close. Dec 26 Wheat closed at $7.27/bushel, down $0.0375 from yesterday's close.&n...
Market Commentary: The Dust Settles
Given yesterday’s headlines, today’s market action may not be what many expected. The dollar is little changed, crude oil is pulling back and s...
Managed Money Makes a Record Bullish Bet on Agriculture
Key Takeaways: Managed money is holding more than one million net-long contracts across agricultural markets, with corn, soybeans, and soymeal all reachin...
Livestock Round Up: USDA Plans to Expand Small and Very Small Beef Processors
Under an Executive Order on 4 September, USDA announced $50 million in new funding to help states establish or expand meat and poultry inspection programs...
Another Try at Ag Labor Legislation
What You Need to Know: H-2A has become a principal agricultural labor channel: certifications increased from fewer than 117,000 in 2014 to 398,258 in 2025...
Summary of Futures
Dec 26 Corn closed at $5.3425/bushel, down $0.015 from yesterday's close. Dec 26 Wheat closed at $7.3075/bushel, up $0.0225 from yesterday's close.&n...
Market Commentary: Markets Digest Fed Hike as Trade Takes Center Stage
What You Need to Know Today: As was widely expected, the Federal Reserve raised interest rates by 25 basis points to a target range of 3.75–4...
USDA Reports - The Real Divide in American Agriculture Isn't Who Has the Data — It's Who Can Afford to Read It
Key Takeaways: USDA data access is equal; the ability to use it is not. Larger operations can afford experts who turn public reports into business decisio...
Black Sea Regional Analysis
Russian Grain Markets: 7–11 September 2026 During the first week of September, the Russian grain market remained volatile but predominantly bearish...
Summary of Futures
Dec 26 Corn closed at $5.3575/bushel, up $0.025 from yesterday's close. Dec 26 Wheat closed at $7.285/bushel, up $0.065 from yesterday's close. ...
Market Commentary: Soymeal Prices Reach Two-Year High
What You Need to Know Today: Oil prices extended their rally Tuesday as disruptions to global supplies intensified. Saudi Arabia halted crude loadings at...
WASDE Livestock and Meat Price Forecasts
The USDA has lowered its 2026 red meat production forecasts while leaving poultry almost unchanged. Beef is now projected at 24.877 billion pounds, 90 mill...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Egypt’s grain imports have fallen off in recent weeks due to several reasons, accord...
Livestock Industry Margins
Beef packer margins deteriorated to $156.75/head last week, down $46.05 from the prior week as fed cattle prices strengthened while gains in the Choice cut...
Summary of Futures
Dec 26 Corn closed at $5.3325/bushel, up $0.03 from yesterday's close. Dec 26 Wheat closed at $7.22/bushel, down $0.0325 from yesterday's close. ...
Market Commentary: Harvest Off to a Fast Start, Inflation Concerns Intensify
What You Need to Know Today: Oil prices moved higher early Monday before giving back some of their gains after drone attacks forced the shutdown of Saudi...
Cow-Calf Profit Expectations Weaken Further
Key Takeaways: Expected returns to production for U.S. cow-calf producers have shifted lower from prior forecasts as cattle values fall and feed cos...
Time Running Out: Fly In for the Farm Bill, North American Trade
The Senate will reconvene today after a late August recess and will adjourn in early October, in about 3 to 4 weeks. The farm bill will move front and cent...
Mercosur Regional Analysis
Corn Argentina Corn planting for Argentina’s 2026/27 commercial crop is now underway, with 1.5 percent of the projected 8.4 Mha already seeded. Progr...
CFTC COT Report Analysis
Soybeans, soymeal, and corn all reached a record net-long through Tuesday’s reporting deadline, although overall fund positioning across ag was mixed...
WASDE Soybeans - September 2026
USDA’s September WASDE outlook for 2026/27 U.S. soybeans is for reduced ending stocks by 10 million bushels to 310 million. The U.S. season-average s...
WASDE Corn - September 2026
USDA’s September WASDE outlook for 2026/27 U.S. corn is for reduced ending stocks by 86 million bushels to 1.567 billion. The season-average U.S. far...
WASDE Wheat - September 2026
USDA’s September WASDE outlook for 2026/27 is unchanged for total U.S. wheat, but there were a few adjustments in wheat types. The season-average U.S...
Summary of Futures
Dec 26 Corn closed at $5.3025/bushel, down $0.035 from yesterday's close. Dec 26 Wheat closed at $7.2525/bushel, down $0.16 from yesterday's close.&n...
Market Commentary: September WASDE Leaves Grain Outlook Largely Intact
What You Need to Know Today: Corn and soybean yields in the September WASDE report were close to pre-report expectations. The corn yield came in at...
The Risk Isn’t Over for Corn and Soy Yields
Commodity markets – being composed primarily of human beings – reflect the impatience and forever forward-looking nature of humans. In the pres...
CPI, PPI, Jobs Report Adding Up to Rate Hike from FOMC
The Bureau of Labor Statistics (BLS) reported this morning that August’s rate of inflation was 0.4 percent, holding steady at 3.4 percent for the yea...
USDA and Sugar: An Arranged Marriage
USDA and sugar have been married since 1934. With such an old marriage, there are all manner of promises, obligations and compromises. There are disagreeme...
AP Quant: WASDE Vegoils
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 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...
Remembering 9-11
Twenty-five years ago, on September 11, 2001, the U.S. experienced one of the most tragic and influential days in the nation’s history. The events of...
Summary of Futures
Dec 26 Corn closed at $5.3375/bushel, up $0.06 from yesterday's close. Dec 26 Wheat closed at $7.4125/bushel, up $0.125 from yesterday's close. ...
Market Commentary: Soy Exports, Technical Support Send CBOT Higher Before WASDE
What You Need to Know Today: Risk-on money flow was present in the markets Thursday with headlines in Iran and the Black Sea driving the move. Russia atta...
Implications of $100+ per Barrel Crude Oil on Agriculture
Key Takeaways: The significance of $100-per-barrel crude depends largely on how long prices remain elevated, as sustained high energy costs are more likel...
Livestock Round Up: Administration Actions on Beef Markets
Monday was Labor Day, the traditional end to the summer grilling season and high demand for cattle. Additionally, it marks the calendar end of summer heat...
Dairy Feed Cost Volatility and Margins
Key Takeaways: Corn and soybean meal markets are tightening together for the first time in more than a year, driven by lower U.S. yield expectations and c...
Transportation Perspectives - 10 September
Key Takeaways: Dry bulk markets saw diverging trends this week as Capesize vessel rates surged on strong demand while Panamax and smaller vessel classes s...
Summary of Futures
Dec 26 Corn closed at $5.2775/bushel, down $0.0575 from yesterday's close. Dec 26 Wheat closed at $7.2875/bushel, down $0.1825 from yesterday's close...
Market Commentary: Pressure is Stacking Up
Energy: Fewer Routes, More Pressure Brent crude is back above $100, while WTI has closed higher for seven consecutive sessions as multiple supply routes co...
Why the Black Sea Dominates the Global Sunflower Oil Market
Key Takeaways: Sunflower oil is a major global vegetable oil despite its relatively limited presence in the United States, with sunflowerseed containing s...
Black Sea Regional Analysis
Russian Grain Markets: 31 August – 4 September 2026 The Russian grain market continued its bearish trend during the first week of September, with amp...
Livestock Industry Margins
Beef packer margins declined to $199/head last week, down $60 from the prior week as the Choice cutout retreated while fed cattle prices were steady. The c...
Summary of Futures
Dec 26 Corn closed at $5.335/bushel, down $0.0325 from yesterday's close. Dec 26 Wheat closed at $7.47/bushel, up $0.13 from yesterday's close. ...
Market Commentary: Volatility is the Outlook
What You Need to Know Today: The U.S. weather forecast has shifted to favor more beneficial conditions for finishing the corn and soybean crops, which is...
Is Mandatory Country of Origin Labeling Worth the Cost?
Key Takeaways: Mandatory Country of Origin Labeling would provide consumers with more consistent information about where their beef originates, but eviden...