FOB Prices and Freight Rates App (Updated 4 June)
WPI Grain Prices and Freight Rate App **** Note: After our recent website update, we're having difficulty correctly linking the app to this page. Until we get this fixed, please visit the app directly via the link below. *** https://worldperspectives.shinyapps.io/Combined_FOB_Price_...
Tariff Threats Escalation Again: China and EU
In May, the U.S. and China agreed to reduce import tariffs by a combined 115 percentage points, down to 10 percent. The agreement was intended to cool years of tariffs and trade conflict that came to a head on 2 April with the announcement of new U.S. tariffs. At the time, both sides indicated...
European Market Analysis
Regional News The UK, most of northern/central Europe, parts of eastern Europe and the eastern Black Sea all received beneficial rainfall last week, with volumes concentrated in the UK, Germany, and along the Black Sea. These rains have revived hopes for the 2025 crops, though areas of co...
Market Commentary: Crop Progress Silver Linings Pressure Corn, Soybeans
CBOT markets were mostly mixed in quiet trade overnight, but that tenor changed quickly once the day session started. The Crop Progress report initially appeared supportive for the major markets with planting slowing for corn and soybeans and corn and spring wheat conditions coming in below exp...
Market Commentary: Mixed Day but a Solid Week
Pre-Holiday Trade There was higher volume trading soybeans today, but generally lower pre-holiday volume in other contracts. Despite an overall strong week, Friday brought lower prices except for soyoil, HRS, and Feeder Cattle. It was the fourth session higher this week for Minneapolis wheat. P...
European Market Analysis
Regional News The weather for the UK and northern Europe remains a major concern for crops. The UK is currently experiencing its driest year of the 21st century while western and northern Europe are slated for more dry conditions over the next two weeks. The EU model now favors more rain...
Policy Quick Hits
The following is a rundown of some key issues impacting agriculture: Reconciliation: The reconciliation bill passed through the Agriculture Committee on a party line vote, 29 to 25. All the amendments offered also passed by the same party line vote. The bill would cut the Supplemental Nutrition...
Phase II Deal; EU Strategy; Mimicking EU
Phase II Deal U.S. Treasury Secretary Scott Bessent suggested that a phase-one deal may be a model for trade talks with China. It may be the only model that would help U.S. farmers. Brazil still has a price edge on soybeans, and even a 10 percent tariff is enough to price out U.S. commodities...
WASDE Soybeans - May 2025
USDA’s outlook for 2025/26 U.S. soybeans is for lower ending stocks: The U.S. share of global soybean exports is forecast at 26 percent - down from 28 percent last year. Accordingly, U.S. soybean exports are forecast at 1.815 billion bushels, down 35 million from 2024/25. The 2025/26 U.S...
WASDE Corn - May 2025
USDA’s outlook for 2025/26 U.S. corn is for record supplies and total use: Higher ending stocks are expected to result from 15.8 billion bushels of corn production, up 6 percent from a year ago. Projected planted area of 95.3 million acres would be the highest in over a decade. The corn y...
WASDE Wheat - May 2025
USDA’s outlook for 2025/26 U.S. wheat is for supplies to be up 2 percent from 2024/25 as higher beginning stocks more than offset lower production. The average wheat yield is projected at 51.6 bushels per acre, up 0.4 bushels from last year. Exports are projected lower at 800 million bush...
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 compilation of relevant market factors, only those which we feel are of top priority. WPI will seek to expand the offerings in this report and w...
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 compilation of relevant market factors, only those which we feel are of top priority. WPI will seek to expand the offerings in this report and w...
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 compilation of relevant market factors, only those which we feel are of top priority. WPI will seek to expand the offerings in this report and w...
European Market Analysis
Regional News France and Romania are lobbying for stricter alignment of Ukrainian grain terms with EU standards. The move comes as concerns about logistical bottlenecks, customs issues, and environmental regulations mount. The EU-Ukraine trade corridor continues to evolve and there is gro...
Trade Deal with UK
Yesterday, President Trump announced from the Oval Office a trade deal “in principle” with the UK, the first of its kind following the reciprocal tariffs imposed by the U.S. While details are still lacking, according to the Administration, the agreement includes increased market acc...
Market Commentary: Trade Deal, Retaliation List, Mixed Outcomes
Soybeans and soyoil held their gains from higher overnight closes, but the guidance of being higher to neutral overnight in corn, wheat and meal was rejected by day traders. Neither solid corn export sales, weather concerns in European and Chinese wheat, nor the prospect of trade agreement reli...
European Market Analysis
Regional News The weather forecast for Europe and the Black Sea remain highly varied, though mostly optimistic for grain and oilseed production. Conditions have been favorable for planting across the UK and EU to date, though Ukraine and Russia have seen unseasonably cold conditions that...
European Market Analysis
Regional News EU grain markets continue to see pressure as the euro’s meteoric rise to a 3½-year high against the U.S. dollar undermines grain export competitiveness. The currency’s rally has sparked significant technical selling in Matif futures with Paris wheat fallin...
Market Commentary: Markets Continue Rebound
Soybeans and corn rose in overnight trading on optimism about the de-escalation of the trade war with China, the world’s largest importer of the oilseeds. Both opened lower this morning but climbed out of the hole to end higher. Wheat closed lower overnight and opened that way this mornin...
EU and China on EV Tariffs
Yesterday, European Commissioner for Trade and Economic Security, Maros Sefcovic, came to Washington for meetings with U.S. officials. The trip follows comments from Ursula von der Lyden. The European Commission issued an official statement: "In response to the widespread disruption cause...
WASDE Corn
Corn - USDA’s April 2025 estimates increase U.S. corn exports by 100 million bushels. U.S. corn ending stocks are down 75 million bushels from last month to 1.5 billion. The season-average corn price received by producers is unchanged at $4.35 per bushel. Global corn ending stocks,...
European Market Analysis
Regional News Both the GBP and EUR are seen as safe-haven trades right now, which has led to appreciation in both currencies. That is making exports less attractive from the UK and Europe, which is not what the markets need as they are already facing strong competition from Russia and Ukr...
Market Commentary: Tariffs on, Risk off
The market opened today as it had closed from the previous night’s session, with double digit declines in many contracts. An hour into today’s session, first soymeal, then corn, then HRW and hogs turned green. Many then wobbled both sides of unchanged. There was a new contract...
Market Commentary: Big Day for USDA Data; Grains Rise While Soy Suffers
The big news in commodity markets Monday was the release of USDA’s Prospective Plantings and Grain Stocks reports, the former of which offered the agency’s first detailed assessment of 2025 acreage. The report featured the expected increase in corn area and decrease in soybean plant...
Oilseed Highlights: Soyoil, Rapeseed Rally on Demand Surge
The Market The big movement in oilseed markets this week is the rally in soyoil futures, which are up 4 percent from last week. The market has rallied due to its large discount against palm oil futures and recent gains in rapeseed prices that are supporting oilseed and vegoils broadly. U...
European Market Analysis
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 experiencing similar shortages. German sources note the supply of “barn eggs” is too small for “prevailing demand”...
CONAB Forecasts Record Soybean Production
Brazilian soybean farmers will reap an even bigger crop in the 2024/25 season than previously expected, according to forecasts released by the Brazilian crop agency CONAB yesterday. Brazil's soybean crop, which farmers are harvesting now, is expected to total 167.37 MMT, about 1.3 M...
WASDE Soybeans
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 bushel, down 15 cents from last month. The price estimates for meal and oil prices are unchanged at $310 per short ton and 43 cents per pound...
WASDE Corn
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 is unchanged at $4.35 per bushel. USDA’s global corn outlook is for higher foreign corn production: Increases in India, Russia, and Uk...
WASDE Wheat
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.S. ending stocks are raised 25 million bushels to 819 million, up 18 percent from last year. Thus, the U.S. season-average farm price is re...
European Market Analysis
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 month in 2024 and totaled 3.2 MMT. The EU Commission lowered its forecast of the bloc’s total grain production for 2024/25 to 255...
India Concessions; Reciprocal Tariffs; Fighting for Relevance
India Concessions U.S. President Donald Trump and Indian Prime Minister Narendra Modi meet tomorrow at the White House. Trump says other countries treat the U.S. badly and perhaps none more than India. Its trade policy is dominated by protectionism. It has led the movement by developing countri...
WASDE Soybeans - Feb 2025
USDA made no change to U.S. ending stocks of soybeans for the 2024/25 season. The season-average soybean price is projected at $10.10 per bushel, down 10 cents from last month. Soybean meal and oil prices are unchanged at $310 per short ton and 43 cents per pound. The projection for global endi...
WASDE Corn - Feb 2025
USDA made no change to U.S. ending stocks of corn for the 2024/25 season. The projected season-average farm price is raised 10 cents to $4.35 per bushel. Global coarse grain production for 2024/25 is forecast 1.8 million tons lower to 1.492 billion. ...
WASDE Wheat - Feb 2025
USDA made a small reduction in ending stocks of U.S. wheat by 4 million bushels to 794 million but are 14 percent above last year. The season-average farm price is unchanged at $5.55 per bushel. The projection for global wheat ending stocks for 2024/25 was lowered 1.3 million tons to 257.6 mill...
Greer Approval; Tariffs and Trading Partners; Executive Power; Tech Reality
Greer Approval Jamieson Greer is expected to win approval from the Senate Finance Committee tomorrow to become the next U.S. Trade Representative. His hearing last week was notable mostly for the dissatisfaction in the Congress over trade policy under Biden and now under Trump. Former USTR Kath...
European Market Analysis
Milling Wheat Global wheat prices were higher last week as concerns about the 2024/25 Russian supply and export program increase as well as concerns about the 2025/26 Black Sea production outlook. Russian exports are down sharply over the past few weeks and are projected to total just 2.2...
European Market Analysis
Regional News Last week, the Balkans and Ukraine saw unseasonably warm weather with moderate rainfall while Russia saw cold weather with light precipitation. The current forecasts call for cooler temperatures in France and Spain, but warmth in the UK and from Poland eastward (with the exce...
WASDE Soybeans Jan 2025
USDA’s January estimate is for U.S. soybean production is down 95 million bushels to 4.366 billion bushels due to a 1 bushel per acre yield reduction – to average U.S. soybean yield of 50.7 bushels per acre. The U.S. season-average soybean price for 2024/25 is projected at $10.20 per bushel, un...
WASDE Corn Jan 2025
USDA’s January estimate is for reduced U.S. corn production at 14.9 billion bushels, down 276 million as a 3.8-bushel per acre cut in yield to 179.3. U.S. exports are cut 25 million bushels to 2.450 billion reflecting lower supplies. USDA notes that supply is falling more than use and the resul...
WASDE Wheat Jan 2025
USDA’s January estimate is for unchanged U.S. wheat exports of 850 million bushels. Projected 2024/25 ending stocks are raised 3 million bushels to 798 million, up 15 percent from last year. The season-average farm price of wheat is reduced by $0.05 per bushel to $5.55.World trade is 1.7 millio...
European Market Analysis
Regional News On Monday morning, Russia announced that its 15 February – 30 June 2025 wheat export quota will be 10.6 MMT, slightly below the 11.0 MMT announced at the EEU meeting last month. Milling Wheat Global wheat markets continue to see pressure from slowing U.S. exports an...
Market Commentary: Some Bouncing Off the Week’s Lows
Except for soyoil and SRW, the market provided a rebound today for the agricultural commodity markets. Most contracts reflected their overnight closes. Key points for today and the week include the following: New contract lows were printed this week in soybeans, soyoil, SRW, and HRS. Only...
Transatlantic Dynamic; Doubling Down
Transatlantic DynamicThose in U.S. agricultural trade policy agree with Donald Trump that the EU treats America badly. The large U.S. agricultural trade deficit with the EU has been growing at a compound annual growth rate of over 6 percent. Since WWII, the U.S. has subsidized Europe’s se...
European Market Analysis
Regional News Last week, a vessel rammed a lock on the Moselle River in Germany, which led Euronext to suspend delivery at French delivery ports on the river for February 2025. The damage was sufficient that initial estimates cited “months” to repair the lock, but more recent news indicate...
Wasde Soybeans
WASDE Soybeans: 2024/25 U.S. soybean supply and use projections are unchanged. There was a significant increase in soybean oil exports by 500 million pounds to 1.1 billion. However, that increase was partly offset by reduction in food, feed, and other industrial use of soybean oil by 200 millio...
Wasde Corn
WASDE Corn: 2024/25 U.S. corn use for ethanol production is increased by 50 million bushels to 5.5 billion. U.S. corn exports are raised 150 million bushels to 2.5 billion. The result is that corn ending stocks are reduced by 200 million bushels to 1.7 billion. The season-average corn price rec...
FOB Prices and Freight Rates App (Updated 4 June)
WPI Grain Prices and Freight Rate App **** Note: After our recent website update, we're having difficulty correctly linking the app to this page. Until we get this fixed, please visit the app directly via the link below. *** https://worldperspectives.shinyapps.io/Combined_FOB_Price_...
Tariff Threats Escalation Again: China and EU
In May, the U.S. and China agreed to reduce import tariffs by a combined 115 percentage points, down to 10 percent. The agreement was intended to cool years of tariffs and trade conflict that came to a head on 2 April with the announcement of new U.S. tariffs. At the time, both sides indicated...
European Market Analysis
Regional News The UK, most of northern/central Europe, parts of eastern Europe and the eastern Black Sea all received beneficial rainfall last week, with volumes concentrated in the UK, Germany, and along the Black Sea. These rains have revived hopes for the 2025 crops, though areas of co...
Market Commentary: Crop Progress Silver Linings Pressure Corn, Soybeans
CBOT markets were mostly mixed in quiet trade overnight, but that tenor changed quickly once the day session started. The Crop Progress report initially appeared supportive for the major markets with planting slowing for corn and soybeans and corn and spring wheat conditions coming in below exp...
Market Commentary: Mixed Day but a Solid Week
Pre-Holiday Trade There was higher volume trading soybeans today, but generally lower pre-holiday volume in other contracts. Despite an overall strong week, Friday brought lower prices except for soyoil, HRS, and Feeder Cattle. It was the fourth session higher this week for Minneapolis wheat. P...
European Market Analysis
Regional News The weather for the UK and northern Europe remains a major concern for crops. The UK is currently experiencing its driest year of the 21st century while western and northern Europe are slated for more dry conditions over the next two weeks. The EU model now favors more rain...
Policy Quick Hits
The following is a rundown of some key issues impacting agriculture: Reconciliation: The reconciliation bill passed through the Agriculture Committee on a party line vote, 29 to 25. All the amendments offered also passed by the same party line vote. The bill would cut the Supplemental Nutrition...
Phase II Deal; EU Strategy; Mimicking EU
Phase II Deal U.S. Treasury Secretary Scott Bessent suggested that a phase-one deal may be a model for trade talks with China. It may be the only model that would help U.S. farmers. Brazil still has a price edge on soybeans, and even a 10 percent tariff is enough to price out U.S. commodities...
WASDE Soybeans - May 2025
USDA’s outlook for 2025/26 U.S. soybeans is for lower ending stocks: The U.S. share of global soybean exports is forecast at 26 percent - down from 28 percent last year. Accordingly, U.S. soybean exports are forecast at 1.815 billion bushels, down 35 million from 2024/25. The 2025/26 U.S...
WASDE Corn - May 2025
USDA’s outlook for 2025/26 U.S. corn is for record supplies and total use: Higher ending stocks are expected to result from 15.8 billion bushels of corn production, up 6 percent from a year ago. Projected planted area of 95.3 million acres would be the highest in over a decade. The corn y...
WASDE Wheat - May 2025
USDA’s outlook for 2025/26 U.S. wheat is for supplies to be up 2 percent from 2024/25 as higher beginning stocks more than offset lower production. The average wheat yield is projected at 51.6 bushels per acre, up 0.4 bushels from last year. Exports are projected lower at 800 million bush...
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 compilation of relevant market factors, only those which we feel are of top priority. WPI will seek to expand the offerings in this report and w...
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 compilation of relevant market factors, only those which we feel are of top priority. WPI will seek to expand the offerings in this report and w...
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 compilation of relevant market factors, only those which we feel are of top priority. WPI will seek to expand the offerings in this report and w...
European Market Analysis
Regional News France and Romania are lobbying for stricter alignment of Ukrainian grain terms with EU standards. The move comes as concerns about logistical bottlenecks, customs issues, and environmental regulations mount. The EU-Ukraine trade corridor continues to evolve and there is gro...
Trade Deal with UK
Yesterday, President Trump announced from the Oval Office a trade deal “in principle” with the UK, the first of its kind following the reciprocal tariffs imposed by the U.S. While details are still lacking, according to the Administration, the agreement includes increased market acc...
Market Commentary: Trade Deal, Retaliation List, Mixed Outcomes
Soybeans and soyoil held their gains from higher overnight closes, but the guidance of being higher to neutral overnight in corn, wheat and meal was rejected by day traders. Neither solid corn export sales, weather concerns in European and Chinese wheat, nor the prospect of trade agreement reli...
European Market Analysis
Regional News The weather forecast for Europe and the Black Sea remain highly varied, though mostly optimistic for grain and oilseed production. Conditions have been favorable for planting across the UK and EU to date, though Ukraine and Russia have seen unseasonably cold conditions that...
European Market Analysis
Regional News EU grain markets continue to see pressure as the euro’s meteoric rise to a 3½-year high against the U.S. dollar undermines grain export competitiveness. The currency’s rally has sparked significant technical selling in Matif futures with Paris wheat fallin...
Market Commentary: Markets Continue Rebound
Soybeans and corn rose in overnight trading on optimism about the de-escalation of the trade war with China, the world’s largest importer of the oilseeds. Both opened lower this morning but climbed out of the hole to end higher. Wheat closed lower overnight and opened that way this mornin...
EU and China on EV Tariffs
Yesterday, European Commissioner for Trade and Economic Security, Maros Sefcovic, came to Washington for meetings with U.S. officials. The trip follows comments from Ursula von der Lyden. The European Commission issued an official statement: "In response to the widespread disruption cause...
WASDE Corn
Corn - USDA’s April 2025 estimates increase U.S. corn exports by 100 million bushels. U.S. corn ending stocks are down 75 million bushels from last month to 1.5 billion. The season-average corn price received by producers is unchanged at $4.35 per bushel. Global corn ending stocks,...
European Market Analysis
Regional News Both the GBP and EUR are seen as safe-haven trades right now, which has led to appreciation in both currencies. That is making exports less attractive from the UK and Europe, which is not what the markets need as they are already facing strong competition from Russia and Ukr...
Market Commentary: Tariffs on, Risk off
The market opened today as it had closed from the previous night’s session, with double digit declines in many contracts. An hour into today’s session, first soymeal, then corn, then HRW and hogs turned green. Many then wobbled both sides of unchanged. There was a new contract...
Market Commentary: Big Day for USDA Data; Grains Rise While Soy Suffers
The big news in commodity markets Monday was the release of USDA’s Prospective Plantings and Grain Stocks reports, the former of which offered the agency’s first detailed assessment of 2025 acreage. The report featured the expected increase in corn area and decrease in soybean plant...
Oilseed Highlights: Soyoil, Rapeseed Rally on Demand Surge
The Market The big movement in oilseed markets this week is the rally in soyoil futures, which are up 4 percent from last week. The market has rallied due to its large discount against palm oil futures and recent gains in rapeseed prices that are supporting oilseed and vegoils broadly. U...
European Market Analysis
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 experiencing similar shortages. German sources note the supply of “barn eggs” is too small for “prevailing demand”...
CONAB Forecasts Record Soybean Production
Brazilian soybean farmers will reap an even bigger crop in the 2024/25 season than previously expected, according to forecasts released by the Brazilian crop agency CONAB yesterday. Brazil's soybean crop, which farmers are harvesting now, is expected to total 167.37 MMT, about 1.3 M...
WASDE Soybeans
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 bushel, down 15 cents from last month. The price estimates for meal and oil prices are unchanged at $310 per short ton and 43 cents per pound...
WASDE Corn
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 is unchanged at $4.35 per bushel. USDA’s global corn outlook is for higher foreign corn production: Increases in India, Russia, and Uk...
WASDE Wheat
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.S. ending stocks are raised 25 million bushels to 819 million, up 18 percent from last year. Thus, the U.S. season-average farm price is re...
European Market Analysis
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 month in 2024 and totaled 3.2 MMT. The EU Commission lowered its forecast of the bloc’s total grain production for 2024/25 to 255...
India Concessions; Reciprocal Tariffs; Fighting for Relevance
India Concessions U.S. President Donald Trump and Indian Prime Minister Narendra Modi meet tomorrow at the White House. Trump says other countries treat the U.S. badly and perhaps none more than India. Its trade policy is dominated by protectionism. It has led the movement by developing countri...
WASDE Soybeans - Feb 2025
USDA made no change to U.S. ending stocks of soybeans for the 2024/25 season. The season-average soybean price is projected at $10.10 per bushel, down 10 cents from last month. Soybean meal and oil prices are unchanged at $310 per short ton and 43 cents per pound. The projection for global endi...
WASDE Corn - Feb 2025
USDA made no change to U.S. ending stocks of corn for the 2024/25 season. The projected season-average farm price is raised 10 cents to $4.35 per bushel. Global coarse grain production for 2024/25 is forecast 1.8 million tons lower to 1.492 billion. ...
WASDE Wheat - Feb 2025
USDA made a small reduction in ending stocks of U.S. wheat by 4 million bushels to 794 million but are 14 percent above last year. The season-average farm price is unchanged at $5.55 per bushel. The projection for global wheat ending stocks for 2024/25 was lowered 1.3 million tons to 257.6 mill...
Greer Approval; Tariffs and Trading Partners; Executive Power; Tech Reality
Greer Approval Jamieson Greer is expected to win approval from the Senate Finance Committee tomorrow to become the next U.S. Trade Representative. His hearing last week was notable mostly for the dissatisfaction in the Congress over trade policy under Biden and now under Trump. Former USTR Kath...
European Market Analysis
Milling Wheat Global wheat prices were higher last week as concerns about the 2024/25 Russian supply and export program increase as well as concerns about the 2025/26 Black Sea production outlook. Russian exports are down sharply over the past few weeks and are projected to total just 2.2...
European Market Analysis
Regional News Last week, the Balkans and Ukraine saw unseasonably warm weather with moderate rainfall while Russia saw cold weather with light precipitation. The current forecasts call for cooler temperatures in France and Spain, but warmth in the UK and from Poland eastward (with the exce...
WASDE Soybeans Jan 2025
USDA’s January estimate is for U.S. soybean production is down 95 million bushels to 4.366 billion bushels due to a 1 bushel per acre yield reduction – to average U.S. soybean yield of 50.7 bushels per acre. The U.S. season-average soybean price for 2024/25 is projected at $10.20 per bushel, un...
WASDE Corn Jan 2025
USDA’s January estimate is for reduced U.S. corn production at 14.9 billion bushels, down 276 million as a 3.8-bushel per acre cut in yield to 179.3. U.S. exports are cut 25 million bushels to 2.450 billion reflecting lower supplies. USDA notes that supply is falling more than use and the resul...
WASDE Wheat Jan 2025
USDA’s January estimate is for unchanged U.S. wheat exports of 850 million bushels. Projected 2024/25 ending stocks are raised 3 million bushels to 798 million, up 15 percent from last year. The season-average farm price of wheat is reduced by $0.05 per bushel to $5.55.World trade is 1.7 millio...
European Market Analysis
Regional News On Monday morning, Russia announced that its 15 February – 30 June 2025 wheat export quota will be 10.6 MMT, slightly below the 11.0 MMT announced at the EEU meeting last month. Milling Wheat Global wheat markets continue to see pressure from slowing U.S. exports an...
Market Commentary: Some Bouncing Off the Week’s Lows
Except for soyoil and SRW, the market provided a rebound today for the agricultural commodity markets. Most contracts reflected their overnight closes. Key points for today and the week include the following: New contract lows were printed this week in soybeans, soyoil, SRW, and HRS. Only...
Transatlantic Dynamic; Doubling Down
Transatlantic DynamicThose in U.S. agricultural trade policy agree with Donald Trump that the EU treats America badly. The large U.S. agricultural trade deficit with the EU has been growing at a compound annual growth rate of over 6 percent. Since WWII, the U.S. has subsidized Europe’s se...
European Market Analysis
Regional News Last week, a vessel rammed a lock on the Moselle River in Germany, which led Euronext to suspend delivery at French delivery ports on the river for February 2025. The damage was sufficient that initial estimates cited “months” to repair the lock, but more recent news indicate...
Wasde Soybeans
WASDE Soybeans: 2024/25 U.S. soybean supply and use projections are unchanged. There was a significant increase in soybean oil exports by 500 million pounds to 1.1 billion. However, that increase was partly offset by reduction in food, feed, and other industrial use of soybean oil by 200 millio...
Wasde Corn
WASDE Corn: 2024/25 U.S. corn use for ethanol production is increased by 50 million bushels to 5.5 billion. U.S. corn exports are raised 150 million bushels to 2.5 billion. The result is that corn ending stocks are reduced by 200 million bushels to 1.7 billion. The season-average corn price rec...