Dec 25 Corn closed at $4.2875/bushel, up $0.055 from yesterday's close.  Dec 25 Wheat closed at $5.26/bushel, up $0.135 from yesterday's close. ...

Minority Supplier Following negotiations with his Chinese counterparts over the weekend, U.S. Treasury Secretary Scott Bessent said he expects China to rev...

Wheat The wheat harvest is gaining momentum in northern Argentina, with yields exceeding expectations. In the northwest, yields range from 0.8–1.5 MT...

Yesterday, Argentina held mid-term Congressional elections, with half of the lower House Chamber of Deputies and one-third of the Senate up for election. T...

Amid the ongoing U.S. government shutdown, WPI presents the following estimates of managed money traders’ positioning in key agricultural futures mar...

It was a pause and reflect day for some contracts, and more getting beat down for the cattle market. The latter invoking more limit-down safeguards. There...

Dec 25 Corn closed at $4.2325/bushel, down $0.0475 from yesterday's close.  Dec 25 Wheat closed at $5.125/bushel, down $0.005 from yesterday's close.&...

As Matt Herrington and Gary Blumenthal covered Wednesday, Trump has announced big plans for the beef market (Market Commentary, Disconnected Beef) which we...

The cattle industry – and beef in particular – has been in the headlines more than usual this year with record-breaking prices for beef and cat...

Dry bulk markets were mixed and relatively quiet this week. The Capesize sector traded steady on flagging spot demand despite an increase in Chinese iron o...

It was another day of mostly higher markets as the reversal continued its strength particularly in soybeans and soymeal. While the redirection has been les...

Dec 25 Corn closed at $4.28/bushel, up $0.05 from yesterday's close.  Dec 25 Wheat closed at $5.13/bushel, up $0.0925 from yesterday's close.  No...

USDA’s monthly Cattle on Feed report would normally be released tomorrow. It is suspended however due to the government shutdown. The question is whe...

One of the key data points the ag (and broader) commodity markets are used to getting from the now-shuttered federal government is the weekly CFTC report,...

U.S.-China relations continue to dominate headlines with a midday report from Reuters indicating that the Trump administration is looking to curb an array...

Dec 25 Corn closed at $4.23/bushel, up $0.0325 from yesterday's close.  Dec 25 Wheat closed at $5.0375/bushel, up $0.035 from yesterday's close. ...

U.S. cattle ranchers predictably reacted negatively to President Trump’s suggestion of importing more Argentine beef to lower prices for consumers. T...

Russian Grains Market: 13–17 October 2025 The Russian grains market remained stable with a slightly bearish undertone, despite zero export duties and...

Dec 25 Corn closed at $4.1975/bushel, down $0.035 from yesterday's close.  Dec 25 Wheat closed at $5.0025/bushel, down $0.045 from yesterday's close.&...

The CBOT was mostly red on Tuesday with a combination of technical factors and a policy position reversal from the American Petroleum Institute weighing on...

Policymaking in democracies is hard and nowhere is that truer than in the multinational setting of the European Union. Belatedly, a larger construct of EU...

The USDA’s weekly export inspections report will continue to be issued during the ongoing partial shutdown of the federal government, until further n...

16 October was World Bread Day, just in case you missed it. The European Commodity Exchange held in Berlin Germany last week was well attended with over 4,...

Beef packer margins fell for the sixth straight week and were negative for the third week in a row. Margins are estimated at -$217/head – down $100 o...

News that President Trump may be taking a more conciliatory stand towards China and that key leaders from Beijing and Washington are meeting to discuss the...

Dec 25 Corn closed at $4.2325/bushel, up $0.0075 from yesterday's close.  Dec 25 Wheat closed at $5.0475/bushel, up $0.01 from yesterday's close. ...

Last week, due to the coincidental timing of the deal with Argentina and elections coming there on 26 October and with Javier Milei being a close ally of P...

Ag Complexity President Trump hasn’t met a problem he doesn’t think he can solve, and that is a good thing, but it does run into the reality of...

Corn  Argentina’s corn planting advanced 5 percentage points last week, reaching 29.9 percent of the projected national area. However, excess mo...

Regional News  German and central European cattle values are starting to decline after their recent, multi-year rally. Slaughter cow values declined t...

Fund buying is signaling it is the market bottom for grains, because they say so. And beef has hit a market top because President Trump says it has. Of cou...

Dec 25 Corn closed at $4.225/bushel, up $0.0075 from yesterday's close.  Dec 25 Wheat closed at $5.0375/bushel, up $0.0125 from yesterday's close.&nbs...

This morning, President Trump announced that the administration is working on a plan to lower beef prices. The price of beef is "higher than we want it, an...

With October and the fall calf run now officially here, the beef industry is getting its first look at the realized profitability of many cow-calf operatio...

Dry-bulk markets were mixed this past week with paper values rising as the Chinese holiday ended, but physical values seeing little of the same enthusiasm...

Agricultural futures might be called mixed on the day, though that is upbeat by itself. There was a continuation of the bear wheat/bull beef story with a n...

Dec 25 Corn closed at $4.2175/bushel, up $0.05 from yesterday's close.  Dec 25 Wheat closed at $5.025/bushel, up $0.0375 from yesterday's close. ...

Feeder Cattle Hit Record Highs: Feeder cattle contracts are trading at $382.725/cwt, a record high, including adjusted for inflation. The previous peak was...

CONAB recently released its first forecasts for the 2025/26 corn, soybean, and wheat crops (among others) and pegged production for the first two at massiv...

President Trump’s tweet about possibly restricting used cooking oil imports from China and more yield concerns for Midwest corn crops created mixed t...

Sorry Soy Thomas Suddes, a reporter for The Plain Dealer cutely writes that Trump’s bubble-gum-and-twine trade “policy” has wrecked Ameri...

Dec 25 Corn closed at $4.1675/bushel, up $0.0375 from yesterday's close.  Dec 25 Wheat closed at $4.9875/bushel, down $0.015 from yesterday's close.&n...

Russian Grains Market: 6–10 October 2025 The Russian grains market showed mixed dynamics. While bearish sentiment persisted in the Asian regions and...

Beef packer margins fell for the fifth straight week and remained in negative territory for the second week in a row. Margins are estimated at -$118/head,...

Corn and wheat found technical support Tuesday that created turnarounds on their respective charts and, in the case of wheat, formed bullish key reversals...

For the first six months of 2025, cattle imports from Mexico are down 73.1 percent due to restrictions from the discovery of New World Screwworm (NWS) in M...

Dec 25 Corn closed at $4.13/bushel, up $0.0225 from yesterday's close.  Dec 25 Wheat closed at $5.0025/bushel, up $0.035 from yesterday's close. ...

Worse Before Better First China announced restrictions on rare earth exports, then President Trump announced 100 percent tariffs and software restrictions...

Mediterranean/Middle East/North Africa/Africa – MEA Region Tunisia and France have extended their cooperation program in agricultural and rural devel...

Dec 25 Corn closed at $4.1075/bushel, down $0.0225 from yesterday's close.  Dec 25 Wheat closed at $4.9675/bushel, down $0.0175 from yesterday's close...

President Trump walked back some of his statements regarding China over the weekend, which allowed ag markets to breathe more easily this week. Soybeans an...

Various Campaigns Diagnosed  Climate Change: Since the Paris Accord in 2015, environmentalists have poured hundreds of millions of dollars publicizing...

USDA is expected to announce details in the next few weeks on its plan to encourage cattle herd expansion after Agriculture Secretary Brooke Rollins recent...

Wheat Although nearly 97 percent of Argentina’s wheat crop is rated from normal to excellent, excessive rainfall in some areas is becoming a concern...

Regional News  Russia continues to dominate global agricultural export policy headlines after Moscow introduced a floating “damper” mechan...

There was no reversal of yesterday’s decline in commodity markets. The trend is your friend, and that beat out thoughts of a technical reversal. The...

Dec 25 Corn closed at $4.13/bushel, down $0.0525 from yesterday's close.  Dec 25 Wheat closed at $4.985/bushel, down $0.08 from yesterday's close.&nbs...

The reconciliation bill signed into law on 4 July, aka the One Big Beautiful Bill, increased statutory reference prices under the Agricultural Risk Payment...

The government shutdown has entered its tenth day, leaving the grain markets without two weeks of export data. Fortunately, the USDA AMS and FGIS continue...

Dry bulk markets are waiting to see how rates will react now that China’s Golden Week and South Korea’s holidays are both over. The Golden Week...

Markets continue to chop around looking for some determinant of direction. In the absence of official reports, yesterday’s firmer PNW soybean basis l...

Dec 25 Corn closed at $4.1825/bushel, down $0.0375 from yesterday's close.  Dec 25 Wheat closed at $5.065/bushel, down $0.0075 from yesterday's close...

Today was WASDE day, however, due to the government shutdown, that report has been suspended, as have been the reports usually highlighted below. Brazil's...

Beef and cattle markets are getting ready to see their much-anticipated seasonal rally ahead of the U.S. Thanksgiving and Christmas holidays, but beef pack...

The CBOT was mostly firmer on Wednesday with rumors circulating that export business is getting done – perhaps aggressively – without the USDA...

Dec 25 Corn closed at $4.22/bushel, up $0.0225 from yesterday's close.  Dec 25 Wheat closed at $5.0725/bushel, up $0.005 from yesterday's close. ...

Animal Welfare Metrics The U.S. Justice Department is suing California over its Prop 12 animal welfare standards adversely impacting hog and poultry produc...

WPI’s latest forecasts for the U.S. corn, soybean, wheat, and sorghum markets in 2025/26 are increasingly leaning bearish due to expected larger supp...

Russian Grains Market: 29 September–03 October 2025 The market remained bearish under pressure from the new crop. However, the export market is fueli...

The CBOT saw diverging trade on Tuesday with the grains – corn and wheat – seeing weaker trade while soybeans and soyoil managed to push higher...

Dec 25 Corn closed at $4.1975/bushel, down $0.02 from yesterday's close.  Dec 25 Wheat closed at $5.0675/bushel, down $0.06 from yesterday's close.&nb...

WTO Stalemate The World Trade Organization remains unable to move forward on its reform agenda under a stalemate over issues like the current consensus req...

President Trump said yesterday that all medium- and heavy-duty trucks imported into the U.S. will face a 25 percent tariff rate starting 1 November. ...

Amid the ongoing U.S. government shutdown and the lack of slaughter data in particular, estimating livestock operations’ profit margins has become mo...

Mediterranean/Middle East/North Africa/Africa – MEA Region Saudi Arabia’s Tanmiah Food Company just opened a new feed production facility...

The CBOT was mixed to start the week with traders increasingly aware of the ongoing government shutdown. Monday’s trade saw the ag markets trade some...

Dec 25 Corn closed at $4.2175/bushel, up $0.0275 from yesterday's close.  Dec 25 Wheat closed at $5.1275/bushel, down $0.025 from yesterday's close.&n...

No political leader has broken rules and norms like President Trump but only because previous leaders refused to bravely declare that the emperor has no cl...

According to the Food and Agriculture Organization (FAO), the global price index for animal proteins is at a record level in September, up 0.9 points over...

Corn  Argentina’s corn planting advanced 7.4 percentage points over the past week and reached 19.8 percent of the 7.8 MHa projected for the seas...

Regional News  Central and Western Europe saw beneficial and widespread storms last week and over the weekend that aided soil moistures and the fall c...

Friday involved relatively lower volume and modest price changes as new inputs remain limited. And it wasn’t really due to the lack of USDA reports d...

Dec 25 Corn closed at $4.19/bushel, down $0.0275 from yesterday's close.  Dec 25 Wheat closed at $5.1525/bushel, up $0.005 from yesterday's close.&nbs...

According to S&P Global, the US manufacturing sector grew for the fourth consecutive month in September. The U.S. manufacturing purchasing managers' in...

Following the recent shocks to the grain markets – the Grain Stocks report data and news that soybeans will be on the negotiating table when Presiden...

Dry bulk freight rates cratered this week as China started its Golden Week holiday, which blanketed markets with calm and quiet. Pacific markets were espec...

Dec 25 Corn closed at $4.2175/bushel, up $0.0525 from yesterday's close.  Dec 25 Wheat closed at $5.1475/bushel, up $0.055 from yesterday's close.&nbs...

After yesterday’s charge forward in soybeans and a lower close in the overnight, optimists on a trade deal with China again took over and brought ano...

The federal government has been shut down since midnight on Wednesday and various USDA reports have been suspended.  This includes some of the data ty...

Wednesday’s headline in the ag markets was President Trump’s social media post that indicated soybeans will be on the agenda for his upcoming s...

CBOT markets - and the soy complex in particular - staged a substantial rally Wednesday afternoon after President Trump’s positive comments on reopen...

In the now fifth U.S. government shutdown in the past 30 years, everyone is guessing about its duration because each shutdown has had its own unique circum...

Dec 25 Corn closed at $4.165/bushel, up $0.01 from yesterday's close.  Dec 25 Wheat closed at $5.0925/bushel, up $0.0125 from yesterday's close. ...

Russian Grains Market: 22–26 September 2025 The Russian grains market remained stable with a slightly bearish tone, particularly for corn, which led...

Bears regained control at the CBOT on Tuesday after the USDA’s quarterly Grain Stocks report found more corn, wheat, and sorghum supplies than trader...

Dec 25 Corn closed at $4.155/bushel, down $0.06 from yesterday's close.  Dec 25 Wheat closed at $5.08/bushel, down $0.115 from yesterday's close. ...