The CBOT saw wheat lead the way higher as traders are increasingly concerned about dry weather in the U.S. Southern Plains, as well as parts of the Black S...

May 25 Corn closed at $4.61/bushel, up $0.025 from yesterday's close.  May 25 Wheat closed at $5.685/bushel, up $0.115 from yesterday's close.  M...

The House of Representatives and the U.S. Senate have both passed the full-year Continuing Appropriations Act, which would fund the government under a cont...

Corn Harvest Progress and Crop Conditions Rain has slowed the corn harvest across much of Argentina’s central region, with progress advancing just 1...

Regional News  Egg shortages and rising prices are not just a feature of U.S. agriculture right now, German and northern European markets broadly are...

The first 100 days of the second Trump presidency doesn’t end until 30 April and is a meaningless metric because Donald Trump’s initiatives wil...

Last week’s CFTC report showed some interesting an unexpected trends. First, despite the technical bounce in corn futures, funds cut 36 percent of th...

There was little in terms of new fundamentals today, and on generally lower volume the board saw mixed trading and results. It was a big week for HRW as th...

May 25 Corn closed at $4.585/bushel, down $0.0675 from yesterday's close.  May 25 Wheat closed at $5.57/bushel, down $0.055 from yesterday's close.&nb...

Brazilian soybean farmers will reap an even bigger crop in the 2024/25 season than previously expected, according to forecasts released by the Brazilian cr...

The U.S. grain export industry – and the transportation sector broadly – are increasingly concerned about the USTR’s proposed Section 301...

The market is facing many knowns and unknowns. How President Trump’s tariff war will proceed is top among the unknowns, though it cannot be good unti...

May 25 Corn closed at $4.6525/bushel, up $0.045 from yesterday's close.  May 25 Wheat closed at $5.625/bushel, up $0.085 from yesterday's close. ...

Historical red meat and poultry supply and use estimates are adjusted to reflect revisions in slaughter, inventory, cold storage, and production data. Tota...

The Market  Of course, the big news in oilseed markets this past week has revolved around tariffs and retaliatory tariffs – most notably China a...

The CBOT was mostly lower on Wednesday as the lack of big changes in the March WASDE effectively amounted to ammunition for bears. Bull markets need to be...

May 25 Corn closed at $4.6075/bushel, down $0.095 from yesterday's close.  May 25 Wheat closed at $5.54/bushel, down $0.0275 from yesterday's close.&n...

Russian Grain Markets: 3 – 7 March 2025 The Russian Ministry of Agriculture forecasts this year's total planted area to be higher than the previous y...

Tariff Waste Now that Trump tariffs are going into full swing, the question is for what objective? The President says other countries treat America unfairl...

Livestock industry margins were mostly steady/higher last week, with the notable exception of beef packer margins. Beef processing profits fell $20/head la...

Today’s March USDA WASDE report did nothing to temper the bearish mood in both commodity and equity markets. Volume was light ahead of the WASDE rele...

Soybeans: USDA’s March estimates for the U.S. 2024/25 season are unchanged this month. The season-average soybean price is projected at $9.95 per bus...

Corn: USDA’s March estimates for the U.S. 2024/25 season are unchanged from last month – and the season-average corn price received by farmers...

Wheat: USDA reduced U.S. wheat exports for the 2024/25 season by 15 million bushels and increased imports by 10 million bushels.  The result is that U...

May 25 Corn closed at $4.7025/bushel, down $0.0175 from yesterday's close.  May 25 Wheat closed at $5.5675/bushel, down $0.0575 from yesterday's close...

Q1 GDP growth is expected to be negative, per the Atlanta Fed “GDPNow.” Spending data is still generally positive through January, however, con...

The second Trump administration has roiled global markets in just its first few weeks in office, with some of the biggest impacts coming from the applicati...

Mediterranean/Middle East/North Africa/Africa – MEA Region Egypt’s change in government wheat importation is said to have led to market confusi...

May 25 Corn closed at $4.72/bushel, up $0.0275 from yesterday's close.  May 25 Wheat closed at $5.625/bushel, up $0.1125 from yesterday's close. ...

Pre-WASDE positioning and reactions to various tariffs and retaliatory tariffs drove much of the market’s action on Monday. The big news was China&rs...

Last night, Canada selected a new prime minister-elect, as Justin Trudeau's reign, since November 2015, comes to a close amid a trade war with the U.S. On...

Wheat  In February, rainfall in Argentina’s core agricultural region averaged 222 mm, nearly double the 30-year historical average for the month...

Small Ideas U.S. Treasury Secretary Scott Bessent said the objective is to reduce the role of the government. This makes sense considering the explosion in...

As expected, Friday’s CFTC report showed managed money funds to be aggressive net sellers across the ag complex due to tariff concerns, widespread &l...

May 25 Corn closed at $4.6925/bushel, up $0.0525 from yesterday's close.  May 25 Wheat closed at $5.5125/bushel, down $0.0275 from yesterday's close.&...

After reacting to a fire hose of developments earlier this week, ag futures had little new fundamental input today except a brief hiatus in the trade war...

The recent volatility in oilseed markets has caused the three legs of the U.S. soybean crush to see interesting and divergent dynamics in 2025. Soybean fut...

Economists predicted that the number of jobs added last month would be 160,000 ahead of the employment report, however, the actual figure was lower than ex...

Despite mostly lower markets in the overnight, the open this morning was slightly in the green but moved strongly higher after the Trump Administration ann...

New trade disruptions, such as the 25 percent tariffs on Canadian feeder cattle, could possibly lead to more cattle being kept on pasture in Canada, which...

May 25 Corn closed at $4.64/bushel, up $0.0825 from yesterday's close.  May 25 Wheat closed at $5.54/bushel, up $0.0575 from yesterday's close. ...

Export Sales and Shipments for February 21-27, 2025  Wheat: Net sales of 338,700 metric tons (MT) for 2024/2025 were up 26 percent from the previous w...

The Market  The CBOT soy complex saw dramatic volatility over the past week due to the impact of U.S. tariffs against Canada, Mexico, and China and Ch...

May 25 Corn closed at $4.5575/bushel, up $0.0425 from yesterday's close.  May 25 Wheat closed at $5.4825/bushel, up $0.115 from yesterday's close.&nbs...

CBOT markets were higher after hints of tariff relief for Canada and Mexico emerged from Washington, D.C. Tuesday night and early Wednesday. White House sp...

Russian Grain Markets: 24 – 28 February 2025 During the last week of February, the market remained bullish with some regional deviations. Milling whe...

Eggs are in the news due to avian influenza reducing the total supply and inelastic demand causing prices to skyrocket. However, the impacts are felt even...

The CBOT saw aggressive selling pressure on Tuesday after China, Canada, and Mexico announced retaliatory tariffs against U.S. exports, including food and...

It’s tariff day! President Trump followed through on his plan to impose tariffs on various imported products across the economy. At 12:01 a.m. EST to...

May 25 Corn closed at $4.515/bushel, down $0.0475 from yesterday's close.  May 25 Wheat closed at $5.3675/bushel, down $0.11 from yesterday's close.&n...

Tariff Tuesday As usual, there is some agreement with Donald Trump on his goal, in this case – improved terms of trade for a country running a perpet...

Mediterranean/Middle East/North Africa/Africa – MEA Region Egypt’s Central Bank has left interest rates unchanged, with the main operational in...

Production margins across the livestock industry were mostly higher last week, except for the beef packing sector and closeout feedlot margins. Beef packer...

The CBOT saw pressure develop overnight and continue through the day session as The Global Times reported that China is preparing retaliatory measures agai...

As President Trump gears up to roll out his sweeping tariff plans tomorrow, Agriculture Secretary Brooke Rollins is promising farmers she’ll be &ldqu...

Argentina’s Corn and Wheat Market Update The central and southern regions of Argentina’s agricultural area have received abundant rainfall in r...

Regional News  Ukraine’s all-grain exports are down 1 percent YTD through February at 29 MMT. February shipments fell 40 percent from the same m...

May 25 Corn closed at $4.5625/bushel, down $0.1325 from yesterday's close.  May 25 Wheat closed at $5.4775/bushel, down $0.08 from yesterday's close.&...

Last week, managed money funds were primarily net sellers across the ag space but overall volumes were relatively muted. The selling was most consistent an...

After presidential tariff notices, a bearish USDA outlook report, improved South American weather, and a softening economy, the only major agricultural fut...

Yesterday, Judge William Alsup, of the U.S. District Court for the Northern California District, said the USDA firings were likely unlawful and ordered tha...

  Following the USDA’s Ag Outlook Forum and the release of the agency’s initial 2025/26 outlooks, WPI has updated our major crop forecasts...

May 25 Corn closed at $4.695/bushel, down $0.115 from yesterday's close.  May 25 Wheat closed at $5.5575/bushel, down $0.0675 from yesterday's close.&...

USDA’s annual Outlook conference started today, and it held no surprises by affirming the likely outcome of the current corn/soybean price ratio and...

Today is the 2025 USDA Outlook Conference, a fitting time to look at commodity forecasts for the upcoming year. Below is USDA’s outlook for the lives...

May 25 Corn closed at $4.81/bushel, down $0.125 from yesterday's close.  May 25 Wheat closed at $5.625/bushel, down $0.1725 from yesterday's close.&nb...

The soy complex has been under broad pressure over the past week with soyoil leading to the downside charge on weaker energy and outside vegoil markets, co...

Export Sales and Shipments for February 14-20, 2025  Wheat: Net sales of 269,000 metric tons (MT) for 2024/2025 were down 50 percent from the previous...

May 25 Corn closed at $4.935/bushel, down $0.0075 from yesterday's close.  May 25 Wheat closed at $5.7975/bushel, down $0.08 from yesterday's close.&n...

The CBOT was broadly lower on Wednesday with fund selling and a lack of bullish news or inputs pushing values into the red. Wheat was the biggest loser for...

Jones Act on Steroids The Jones Act (Merchant Marine Act of 1920) requires that shipping between U.S. ports involve U.S.-built, owned, flagged and manned v...

Russian Grain Markets: 17 – 21 February 2025 The market remained bullish with some regional deviations. Corn and barley prices are frozen. The export...

The CBOT was mostly lower on Tuesday with risk-off trade and seasonal factors driving most of the day’s action. The markets are also seeing a good bi...

May 25 Corn closed at $4.9425/bushel, down $0.0275 from yesterday's close.  May 25 Wheat closed at $5.8775/bushel, down $0.0575 from yesterday's close...

Most nations pursue food self-sufficiency in the name of food security. This seemed silly when trade liberalization and comparative advantage promised more...

Planting season is still several weeks away, which means the acreage balance is still in flux, however, multiple factors could shift how acres are traded a...

Mediterranean/Middle East/North Africa/Africa – MEA Region Saudi Agricultural and Livestock Investment Company (SALIC) has increased its ownership in...

Production margins across the livestock industry were broadly lower last week, with weaker profits in the beef and pork packing sectors leading the way. Be...

Crop markets were lower to start the week with harvest progress in South America and increasingly favorable weather there weighing on values. Too, the Expo...

Zhu Zengyong, an analyst and researcher with the state-backed Chinese Academy of Agricultural Sciences, said on Monday that there is no more room for pork...

Corn Crop Update Argentina’s corn crop continues to struggle against high temperatures and sporadic rainfall. By the end of last week, many areas nee...

Mar 25 Corn closed at $4.825/bushel, down $0.0875 from yesterday's close.  May 25 Wheat closed at $5.935/bushel, down $0.105 from yesterday's close.&n...

Pesticide Policy: New and controversial Secretary of HHS, Robert F. Kennedy, Jr. says “Nothing is off limits” including agricultural chemicals...

In the week following the February WASDE, managed money traders’ sentiments towards the ag markets  changed relatively little. Funds perhaps mos...

The last session of this holiday shortened trading week was much like the week itself, mixed with mostly declines. Though hogs, HRS and soymeal all had gai...

U.S. Cattle on Feed on February 1, 2025 was down one percent from a year ago. The total was 11.7 million head in feedlots with a capacity of 1,000 or more...

Export Sales and Shipments for February 7-13, 2025. Wheat: Net sales of 532,700 metric tons (MT) for 2024/2025 were down 7 percent from the previous week,...

USDA released the monthly Cattle on Feed report today. The total cattle on feed inventory was 11.7 million head, at 99 percent of last year. Placements in...

Mar 25 Corn closed at $4.9125/bushel, down $0.0675 from yesterday's close.  Mar 25 Wheat closed at $5.9/bushel, up $0.045 from yesterday's close. ...

U.S. consumer spending patterns have undergone several significant shifts since the COVID-19 pandemic, and the food industry was no different. Since the pa...

There was lower volume in much of the market today, except in soybeans where there was a healthy double-digit gain. Market inputs are steady for the moment...

Mar 25 Corn closed at $4.98/bushel, up $0.005 from yesterday's close.  Mar 25 Wheat closed at $5.855/bushel, down $0.065 from yesterday's close. ...

USDA’s monthly Cattle on Feed report will be released tomorrow. Analysts’ pre-report consensus estimates are for the total inventory on feed to...

The Market  The major action in global oilseed markets this past week has been in the vegoil realm, where tightening global supplies have pushed price...

Mar 25 Corn closed at $4.975/bushel, down $0.045 from yesterday's close.  Mar 25 Wheat closed at $5.92/bushel, down $0.1275 from yesterday's close.&nb...

The CBOT was mostly lower Wednesday as a stronger U.S. dollar and a general "risk-off" mentality drove the day’s weaker trade. Wheat futures saw the...

Rollins versus Kennedy With a vote of 72 – 28, Brooke Rollins became the 33rd U.S. Secretary of Agriculture and she achieved the fifth best Senate ap...

Russian Grain Markets: 10 – 14 February 2025 The market remained bullish with some regional deviations. Corn and barley prices froze along with expor...

Grain futures were weaker overnight following the long weekend and after President Trump announced a reciprocal tariff policy. The markets bounced back Tue...

After getting a slow start to the nomination process, Brooke Rollins is now the confirmed USDA Secretary, by virtue of a 72-28 confirmation vote last week...

Mar 25 Corn closed at $5.02/bushel, up $0.0575 from yesterday's close.  Mar 25 Wheat closed at $6.0475/bushel, up $0.0475 from yesterday's close. ...

EU’s Agriculture Vision The EU’s draft proposed “Vision” for agriculture will be released tomorrow and it is said to be “farm...

Managed money traders’ sentiments shifted last week, according to the latest CFTC report. Funds who had previously been bullish soybeans and corn, sh...

Mediterranean/Middle East/North Africa/Africa – MEA Region The 2025 dates for Ramadan are estimated to be 28 February until 30 March. The actual date...

There were surprisingly only modest trading volumes in this last trading session before a three-day holiday. There was no rush to escape positions. The liv...

Monday, 17 February, is a U.S. holiday. The CME/CBOT will be closed along with our offices in observance of the President’s Day holiday. The next Ag...

Mar 25 Corn closed at $4.9625/bushel, up $0.0275 from yesterday's close.  Mar 25 Wheat closed at $6/bushel, up $0.2225 from yesterday's close.  M...

Anyone following the hog and pork markets recently has seen the volatility that preceded the recent surge to new contract highs, and the lack of consensus...