Market Commentary: Mixed Session and More Ahead
Corn and soybeans traded much the way they did in the overnight session, though wheat posted something of a reversal. There were flash sales of corn to Mexico and Colombia but no new soybeans sales, which was bearish. Treasury Secretary Scott Bessent, who is reportedly rising as a lead po...
Soybean Crushing Margins Outlook for Q1 2025
With China back in the market for U.S. soybeans and soy product margins diverging from recent patterns, soybean crushing margins are again in a state of uncertainty. Volatility in CBOT board soybean crush margins has lessened over the past month with the soybean futures rally being almost equal...
Summary of Futures
Mar 26 Corn closed at $4.4725/bushel, up $0.0375 from yesterday's close. Mar 26 Wheat closed at $5.4025/bushel, up $0.02 from yesterday's close. Jan 26 Soybeans closed at $11.195/bushel, up $0.0375 from yesterday's close. Jan 26 Soymeal closed at $311.2/short ton, down $0.1 fr...
Market Commentary: CBOT Ends Lower as Slow Export News Overrides Black Sea Tensions
The CBOT was mostly lower at mid-week with the threat of Russian attacks on Ukrainian vessels and ag infrastructure taking a backseat to the lack of export news, particularly from China. Corn, wheat, and soybeans all settled in the red for the day with soybeans leading the downside move on anot...
Waste Energy; Selective Protectionism
Waste Energy The cudgel held over agriculture-based feedstocks has typically been indirect land use. The U.S. biofuel industry is currently battling with California regulators over its calculation. Works in Progress editor Samuel Hughes identifies land use restrictions as newly common across al...
Summary of Futures
Mar 26 Corn closed at $4.435/bushel, down $0.065 from yesterday's close. Mar 26 Wheat closed at $5.3825/bushel, down $0.0275 from yesterday's close. Jan 26 Soybeans closed at $11.1575/bushel, down $0.09 from yesterday's close. Jan 26 Soymeal closed at $311.3/short ton, down $0...
CFTC COT Report Analysis
The following tables/charts reflect the CFTC's latest data release, which covers traders' positions through 21 October. The data are, obviously, delayed due to the 40-day 2025 U.S. government shutdown. While the positions below likely have little influence on today's markets or fund positioning...
FOB Prices and Freight Rates App (Updated 3 December)
WPI Grain Prices and Freight Rate App Note: you can also visit the app directly by clicking here. Supplemental Information The section below offers a concise view of the options available in the current version of the WPI FOB Price and Freight Rate app, along with a short “How To”...
Market Commentary: Grains Gain on Black Sea Tensions; Cattle Extend Rally
The CBOT initially looked set for a quiet day of post-holiday trade on Tuesday, but that was before Russian President Putin elevated political tensions in the Black Sea region. Putin threatened to increase attacks on Ukraine in response to Ukraine’s recent attacks on Russian tanker vessel...
Summary of Futures
Mar 26 Corn closed at $4.5/bushel, up $0.05 from yesterday's close. Mar 26 Wheat closed at $5.41/bushel, up $0.06 from yesterday's close. Jan 26 Soybeans closed at $11.2475/bushel, down $0.0325 from yesterday's close. Jan 26 Soymeal closed at $311.6/short ton, down $3 from yes...
End of the Year: Lots to Do and a Short Time to Get it Done
Congress returns this week from their Thanksgiving recess to wrap up end-of-year priorities. There are only 13 days of legislative sessions remaining in the House, with 12 days before the 30 January deadline when the government runs out of money once again. The Senate has 12 days of session rem...
Livestock Industry Margins
Beef packer margins surged for a fourth consecutive week, jumping $108/head to $228 and marking the strongest profitability in more than two years. Margins rose on the combination of a $5.88/cwt decline in live cattle and an $13.20/cwt drop in dressed cattle prices, while the Choice cutout ease...
Market Commentary: Mixed Session and More Ahead
Corn and soybeans traded much the way they did in the overnight session, though wheat posted something of a reversal. There were flash sales of corn to Mexico and Colombia but no new soybeans sales, which was bearish. Treasury Secretary Scott Bessent, who is reportedly rising as a lead po...
Soybean Crushing Margins Outlook for Q1 2025
With China back in the market for U.S. soybeans and soy product margins diverging from recent patterns, soybean crushing margins are again in a state of uncertainty. Volatility in CBOT board soybean crush margins has lessened over the past month with the soybean futures rally being almost equal...
Summary of Futures
Mar 26 Corn closed at $4.4725/bushel, up $0.0375 from yesterday's close. Mar 26 Wheat closed at $5.4025/bushel, up $0.02 from yesterday's close. Jan 26 Soybeans closed at $11.195/bushel, up $0.0375 from yesterday's close. Jan 26 Soymeal closed at $311.2/short ton, down $0.1 fr...
Market Commentary: CBOT Ends Lower as Slow Export News Overrides Black Sea Tensions
The CBOT was mostly lower at mid-week with the threat of Russian attacks on Ukrainian vessels and ag infrastructure taking a backseat to the lack of export news, particularly from China. Corn, wheat, and soybeans all settled in the red for the day with soybeans leading the downside move on anot...
Waste Energy; Selective Protectionism
Waste Energy The cudgel held over agriculture-based feedstocks has typically been indirect land use. The U.S. biofuel industry is currently battling with California regulators over its calculation. Works in Progress editor Samuel Hughes identifies land use restrictions as newly common across al...
Summary of Futures
Mar 26 Corn closed at $4.435/bushel, down $0.065 from yesterday's close. Mar 26 Wheat closed at $5.3825/bushel, down $0.0275 from yesterday's close. Jan 26 Soybeans closed at $11.1575/bushel, down $0.09 from yesterday's close. Jan 26 Soymeal closed at $311.3/short ton, down $0...
CFTC COT Report Analysis
The following tables/charts reflect the CFTC's latest data release, which covers traders' positions through 21 October. The data are, obviously, delayed due to the 40-day 2025 U.S. government shutdown. While the positions below likely have little influence on today's markets or fund positioning...
FOB Prices and Freight Rates App (Updated 3 December)
WPI Grain Prices and Freight Rate App Note: you can also visit the app directly by clicking here. Supplemental Information The section below offers a concise view of the options available in the current version of the WPI FOB Price and Freight Rate app, along with a short “How To”...
Market Commentary: Grains Gain on Black Sea Tensions; Cattle Extend Rally
The CBOT initially looked set for a quiet day of post-holiday trade on Tuesday, but that was before Russian President Putin elevated political tensions in the Black Sea region. Putin threatened to increase attacks on Ukraine in response to Ukraine’s recent attacks on Russian tanker vessel...
Summary of Futures
Mar 26 Corn closed at $4.5/bushel, up $0.05 from yesterday's close. Mar 26 Wheat closed at $5.41/bushel, up $0.06 from yesterday's close. Jan 26 Soybeans closed at $11.2475/bushel, down $0.0325 from yesterday's close. Jan 26 Soymeal closed at $311.6/short ton, down $3 from yes...
End of the Year: Lots to Do and a Short Time to Get it Done
Congress returns this week from their Thanksgiving recess to wrap up end-of-year priorities. There are only 13 days of legislative sessions remaining in the House, with 12 days before the 30 January deadline when the government runs out of money once again. The Senate has 12 days of session rem...
Livestock Industry Margins
Beef packer margins surged for a fourth consecutive week, jumping $108/head to $228 and marking the strongest profitability in more than two years. Margins rose on the combination of a $5.88/cwt decline in live cattle and an $13.20/cwt drop in dressed cattle prices, while the Choice cutout ease...