Recent Feed Grains Analysis
Summary of Futures
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. Nov 25 Soybeans closed at $10.0775/bushel, up $0.01 from yesterday's close. Dec 25 Soymeal closed at $274.1/short ton, down $0...
Market Commentary: New Lows for Wheat, New Highs for Cattle; Soybeans Eye Trade Talks
President Trump walked back some of his statements regarding China over the weekend, which allowed ag markets to breathe more easily this week. Soybeans and soyoil managed to post small gains to start the week after Friday’s trade-war-news-induced collapse, with traders turning hopeful th...
Mercosur Regional Analysis
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. Certain fields have been inaccessible for months, preventing necessary fieldwork. Fungal diseases are spreading, but farmers are still inve...
European Market Analysis
Regional News Russia continues to dominate global agricultural export policy headlines after Moscow introduced a floating “damper” mechanism for export duties. The “damper” lowered the export tax on wheat shipments by about 20 percent for 8-14 October and pushed co...
Market Commentary: Lots of Uncertainties Except Certain Problems with China
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 market was down at the open and then came even more bearish outside influences. Commodity and financial market prices plunged as the t...
Summary of Futures
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. Nov 25 Soybeans closed at $10.0675/bushel, down $0.155 from yesterday's close. Dec 25 Soymeal closed at $275/short ton, down $1.9 f...
Market Commentary: Chop and Drop
Markets continue to chop around looking for some determinant of direction. In the absence of official reports, yesterday’s firmer PNW soybean basis levels provided a brief uplift but that faltered today. China gets mentioned as a possible source of the phantom demand but that seems politi...
Summary of Futures
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. Nov 25 Soybeans closed at $10.2225/bushel, down $0.0725 from yesterday's close. Dec 25 Soymeal closed at $276.9/short ton, down...
Market Commentary: Corn, Soy Firm on Bull Spreading (and Exports?); Cattle Hit New Highs
The CBOT was mostly firmer on Wednesday with rumors circulating that export business is getting done – perhaps aggressively – without the USDA to publish the daily “flash” export sales report. Bull spreading in corn and soybeans likely belies this activity, as does the r...
Summary of Futures
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. Nov 25 Soybeans closed at $10.295/bushel, up $0.075 from yesterday's close. Dec 25 Soymeal closed at $278/short ton, up $1.1 from yes...
U.S. 2025/26 Crop Balance Sheets Growing Heavy
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 supplies and, except for corn, weaker demand. China’s continued absence from the soybean and sorghum markets is a major headwind for the a...
Black Sea Regional Analysis
Russian Grains Market: 29 September–03 October 2025 The market remained bearish under pressure from the new crop. However, the export market is fueling optimism. With relatively low export duties, Russian farmers may improve grain margins this year, supported by significant trade volumes...
Summary of Futures
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. Nov 25 Soybeans closed at $10.0775/bushel, up $0.01 from yesterday's close. Dec 25 Soymeal closed at $274.1/short ton, down $0...
Market Commentary: New Lows for Wheat, New Highs for Cattle; Soybeans Eye Trade Talks
President Trump walked back some of his statements regarding China over the weekend, which allowed ag markets to breathe more easily this week. Soybeans and soyoil managed to post small gains to start the week after Friday’s trade-war-news-induced collapse, with traders turning hopeful th...
Mercosur Regional Analysis
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. Certain fields have been inaccessible for months, preventing necessary fieldwork. Fungal diseases are spreading, but farmers are still inve...
European Market Analysis
Regional News Russia continues to dominate global agricultural export policy headlines after Moscow introduced a floating “damper” mechanism for export duties. The “damper” lowered the export tax on wheat shipments by about 20 percent for 8-14 October and pushed co...
Market Commentary: Lots of Uncertainties Except Certain Problems with China
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 market was down at the open and then came even more bearish outside influences. Commodity and financial market prices plunged as the t...
Summary of Futures
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. Nov 25 Soybeans closed at $10.0675/bushel, down $0.155 from yesterday's close. Dec 25 Soymeal closed at $275/short ton, down $1.9 f...
Market Commentary: Chop and Drop
Markets continue to chop around looking for some determinant of direction. In the absence of official reports, yesterday’s firmer PNW soybean basis levels provided a brief uplift but that faltered today. China gets mentioned as a possible source of the phantom demand but that seems politi...
Summary of Futures
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. Nov 25 Soybeans closed at $10.2225/bushel, down $0.0725 from yesterday's close. Dec 25 Soymeal closed at $276.9/short ton, down...
Market Commentary: Corn, Soy Firm on Bull Spreading (and Exports?); Cattle Hit New Highs
The CBOT was mostly firmer on Wednesday with rumors circulating that export business is getting done – perhaps aggressively – without the USDA to publish the daily “flash” export sales report. Bull spreading in corn and soybeans likely belies this activity, as does the r...
Summary of Futures
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. Nov 25 Soybeans closed at $10.295/bushel, up $0.075 from yesterday's close. Dec 25 Soymeal closed at $278/short ton, up $1.1 from yes...
U.S. 2025/26 Crop Balance Sheets Growing Heavy
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 supplies and, except for corn, weaker demand. China’s continued absence from the soybean and sorghum markets is a major headwind for the a...
Black Sea Regional Analysis
Russian Grains Market: 29 September–03 October 2025 The market remained bearish under pressure from the new crop. However, the export market is fueling optimism. With relatively low export duties, Russian farmers may improve grain margins this year, supported by significant trade volumes...