Recent Soy & Oilseeds Analysis
Market Commentary: Corn Reversal Continues; Weather, Conditions Ratings Sink Soybeans
The big move at the CBOT Tuesday was a 1¾-cent gain in December corn futures – which isn’t much but that the development followed Monday’s bullish reversal is. The strength in new crop corn defies much of the fundamental outlook and suggests traders are sensing somethin...
Summary of Futures
Dec 25 Corn closed at $4.1975/bushel, up $0.0175 from yesterday's close. Sep 25 Wheat closed at $5.38/bushel, down $0.035 from yesterday's close. Nov 25 Soybeans closed at $10.0175/bushel, down $0.0525 from yesterday's close. Dec 25 Soymeal closed at $279.5/short ton, down $2...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Egypt’s annual inflation level is at 14.4 percent in the latest month, down from 16.5 percent the previous month. Egypt’s target for 65 percent self-sufficiency in wheat in 2025 has been revised by the government...
Market Commentary: Corn Posts Bullish Reversal while Soy, Wheat Slip Lower
Monday’s trade at the CBOT was interesting with corn, soybeans, and wheat all rallying off fresh contract or selloff lows overnight, but only corn holding onto those gains by the closing bell. For corn futures, the market seemed to be more focused on the USDA’s ending stocks figure...
Summary of Futures
Dec 25 Corn closed at $4.18/bushel, up $0.0575 from yesterday's close. Sep 25 Wheat closed at $5.415/bushel, down $0.035 from yesterday's close. Nov 25 Soybeans closed at $10.07/bushel, down $0.0025 from yesterday's close. Dec 25 Soymeal closed at $281.7/short ton, down $1.9 f...
WPI Crop Progress and Conditions App (Updated 14 July)
Update for 28 April 2025: Last year, users pointed out differences between the 5-year averages reported in this app and what USDA estimates in its weekly report. The difference exists because WPI calculates average based on the last 5 years of observations for the current week. In cases where o...
Mercosur Regional Analysis
Wheat Argentina’s wheat planting is entering its final stage after a weekly advance of 12.7 percentage points at the national level, now covering 91 percent of the projected 6.7 million hectares. Regional progress of about 20 points was seen in areas previously delayed by surface wa...
European Market Analysis
Regional News President Trump announced 30 percent tariffs on imports from the EU effective 1 August even as the EU and U.S. trade negotiations continue. Western Europe saw heavy and mostly beneficial precipitation last week, but a dry trend is now emerging for the region. Last week...
CFTC COT Report Analysis
Friday’s CFTC report showed managed money surprisingly shifting into a more bullish stance across the ag space, though still retaining a small net short. Funds cut 11,700 contacts (14.5 percent) off their small net short across all ag futures last week and now hold relatively neutral posi...
Market Commentary: Bears Resist WASDE Curveballs
U.S. crop growing weather looks near perfect. Even dry parts of Nebraska and northern Illinois have just received good relief rains. The rest of July is cooler and damp, perfect for pollination. The share of the corn crop rated Good/Excellent is 74 percent, and its 66 percent for soybeans. ...
WASDE Soybeans - July 2025
USDA’s July 2025 outlook for U.S. soybeans is for increased ending stocks compared to last month: U.S. soybean crush for 2025/26 was raised 50 million bushels to 2.54 billion on the assumption that demand for soybean oil for biofuel would increase. The U.S. seasonal average farm price of...
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...
Market Commentary: Corn Reversal Continues; Weather, Conditions Ratings Sink Soybeans
The big move at the CBOT Tuesday was a 1¾-cent gain in December corn futures – which isn’t much but that the development followed Monday’s bullish reversal is. The strength in new crop corn defies much of the fundamental outlook and suggests traders are sensing somethin...
Summary of Futures
Dec 25 Corn closed at $4.1975/bushel, up $0.0175 from yesterday's close. Sep 25 Wheat closed at $5.38/bushel, down $0.035 from yesterday's close. Nov 25 Soybeans closed at $10.0175/bushel, down $0.0525 from yesterday's close. Dec 25 Soymeal closed at $279.5/short ton, down $2...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Egypt’s annual inflation level is at 14.4 percent in the latest month, down from 16.5 percent the previous month. Egypt’s target for 65 percent self-sufficiency in wheat in 2025 has been revised by the government...
Market Commentary: Corn Posts Bullish Reversal while Soy, Wheat Slip Lower
Monday’s trade at the CBOT was interesting with corn, soybeans, and wheat all rallying off fresh contract or selloff lows overnight, but only corn holding onto those gains by the closing bell. For corn futures, the market seemed to be more focused on the USDA’s ending stocks figure...
Summary of Futures
Dec 25 Corn closed at $4.18/bushel, up $0.0575 from yesterday's close. Sep 25 Wheat closed at $5.415/bushel, down $0.035 from yesterday's close. Nov 25 Soybeans closed at $10.07/bushel, down $0.0025 from yesterday's close. Dec 25 Soymeal closed at $281.7/short ton, down $1.9 f...
WPI Crop Progress and Conditions App (Updated 14 July)
Update for 28 April 2025: Last year, users pointed out differences between the 5-year averages reported in this app and what USDA estimates in its weekly report. The difference exists because WPI calculates average based on the last 5 years of observations for the current week. In cases where o...
Mercosur Regional Analysis
Wheat Argentina’s wheat planting is entering its final stage after a weekly advance of 12.7 percentage points at the national level, now covering 91 percent of the projected 6.7 million hectares. Regional progress of about 20 points was seen in areas previously delayed by surface wa...
European Market Analysis
Regional News President Trump announced 30 percent tariffs on imports from the EU effective 1 August even as the EU and U.S. trade negotiations continue. Western Europe saw heavy and mostly beneficial precipitation last week, but a dry trend is now emerging for the region. Last week...
CFTC COT Report Analysis
Friday’s CFTC report showed managed money surprisingly shifting into a more bullish stance across the ag space, though still retaining a small net short. Funds cut 11,700 contacts (14.5 percent) off their small net short across all ag futures last week and now hold relatively neutral posi...
Market Commentary: Bears Resist WASDE Curveballs
U.S. crop growing weather looks near perfect. Even dry parts of Nebraska and northern Illinois have just received good relief rains. The rest of July is cooler and damp, perfect for pollination. The share of the corn crop rated Good/Excellent is 74 percent, and its 66 percent for soybeans. ...
WASDE Soybeans - July 2025
USDA’s July 2025 outlook for U.S. soybeans is for increased ending stocks compared to last month: U.S. soybean crush for 2025/26 was raised 50 million bushels to 2.54 billion on the assumption that demand for soybean oil for biofuel would increase. The U.S. seasonal average farm price of...
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...