Recent Wheat Analysis
Summary of Futures
Dec 26 Corn closed at $5.335/bushel, down $0.0325 from yesterday's close. Dec 26 Wheat closed at $7.47/bushel, up $0.13 from yesterday's close. Nov 26 Soybeans closed at $13.1625/bushel, up $0.065 from yesterday's close. Dec 26 Soymeal closed at $349.8/short ton, down $5.3 fro...
Market Commentary: Volatility is the Outlook
What You Need to Know Today: The U.S. weather forecast has shifted to favor more beneficial conditions for finishing the corn and soybean crops, which is removing some weather risk premium from futures. Traders are looking ahead to Friday’s September WASDE, which will offer major insight...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Pakistan’s government reports that it has purchased 750,000 MT of wheat that will be delivered in November 2026, along with another 250,000 MT for later delivery. The forecasted shortfall in wheat supply for 2026/27 could be...
Summary of Futures
Dec 26 Corn closed at $5.3675/bushel, down $0.04 from yesterday's close. Dec 26 Wheat closed at $7.34/bushel, down $0.2025 from yesterday's close. Nov 26 Soybeans closed at $13.0975/bushel, down $0.065 from yesterday's close. Dec 26 Soymeal closed at $355.1/short ton, down $0...
Market Commentary: Recent Rallies Lose Steam
What You Need to Know Today: U.S. and Chinese officials are expected to discuss agriculture and non-tariff trade barriers ahead of Chinese President Xi Jinping’s visit to Washington later this month, potentially opening the door to additional U.S. agricultural purchases or improved marke...
CFTC COT Report Analysis
The bull market in ag commodities continued through Tuesday’s data reporting deadline with drought, yield, and Black Sea export concerns driving another week of massive fund and commercial buying. Managed money traders bought 225,000 contracts across the ag markets through last Tuesday&rs...
Summary of Futures
Dec 26 Corn closed at $5.4075/bushel, down $0.0275 from yesterday's close. Dec 26 Wheat closed at $7.5425/bushel, down $0.1975 from yesterday's close. Nov 26 Soybeans closed at $13.1625/bushel, up $0.06 from yesterday's close. Dec 26 Soymeal closed at $355.5/short ton, up $5.9...
Market Commentary: “Chances” for Peace and Disinflation; Cattle Market Meddling
What You Need to Know Today: Wheat futures pulled back sharply after Russian President Putin said there was a “chance” for peace and an agreement to end the war in Ukraine. There is plenty of skepticism about the opportunity for peace in Ukraine, but that didn’t stop wheat fr...
Summary of Futures
Dec 26 Corn closed at $5.435/bushel, down $0.025 from yesterday's close. Dec 26 Wheat closed at $7.74/bushel, down $0.085 from yesterday's close. Nov 26 Soybeans closed at $13.1025/bushel, down $0.075 from yesterday's close. Dec 26 Soymeal closed at $349.6/short ton, down $3 f...
Market Commentary: The Calendar Is Not in Control
Energy: Risk Over Rules Fighting between the United States and Iran over control of the Strait of Hormuz escalated overnight. Tehran accused U.S. forces of striking a residential area after U.S. Central Command said its second round of attacks in three days targeted Iranian radar systems and mi...
Black Sea Regional Analysis
Russian Grain Markets: 24–28 August 2026 During the fourth week of August, the Russian grain market continued to slide, although the pace of the decline slowed. The immediate market reaction and collapse in export activity have placed significant pressure on farmers. Price declines vary b...
Summary of Futures
Dec 26 Corn closed at $5.46/bushel, up $0.0825 from yesterday's close. Dec 26 Wheat closed at $7.825/bushel, up $0.085 from yesterday's close. Nov 26 Soybeans closed at $13.1775/bushel, up $0.2975 from yesterday's close. Dec 26 Soymeal closed at $352.6/short ton, up $7.3 from...
Summary of Futures
Dec 26 Corn closed at $5.335/bushel, down $0.0325 from yesterday's close. Dec 26 Wheat closed at $7.47/bushel, up $0.13 from yesterday's close. Nov 26 Soybeans closed at $13.1625/bushel, up $0.065 from yesterday's close. Dec 26 Soymeal closed at $349.8/short ton, down $5.3 fro...
Market Commentary: Volatility is the Outlook
What You Need to Know Today: The U.S. weather forecast has shifted to favor more beneficial conditions for finishing the corn and soybean crops, which is removing some weather risk premium from futures. Traders are looking ahead to Friday’s September WASDE, which will offer major insight...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Pakistan’s government reports that it has purchased 750,000 MT of wheat that will be delivered in November 2026, along with another 250,000 MT for later delivery. The forecasted shortfall in wheat supply for 2026/27 could be...
Summary of Futures
Dec 26 Corn closed at $5.3675/bushel, down $0.04 from yesterday's close. Dec 26 Wheat closed at $7.34/bushel, down $0.2025 from yesterday's close. Nov 26 Soybeans closed at $13.0975/bushel, down $0.065 from yesterday's close. Dec 26 Soymeal closed at $355.1/short ton, down $0...
Market Commentary: Recent Rallies Lose Steam
What You Need to Know Today: U.S. and Chinese officials are expected to discuss agriculture and non-tariff trade barriers ahead of Chinese President Xi Jinping’s visit to Washington later this month, potentially opening the door to additional U.S. agricultural purchases or improved marke...
CFTC COT Report Analysis
The bull market in ag commodities continued through Tuesday’s data reporting deadline with drought, yield, and Black Sea export concerns driving another week of massive fund and commercial buying. Managed money traders bought 225,000 contracts across the ag markets through last Tuesday&rs...
Summary of Futures
Dec 26 Corn closed at $5.4075/bushel, down $0.0275 from yesterday's close. Dec 26 Wheat closed at $7.5425/bushel, down $0.1975 from yesterday's close. Nov 26 Soybeans closed at $13.1625/bushel, up $0.06 from yesterday's close. Dec 26 Soymeal closed at $355.5/short ton, up $5.9...
Market Commentary: “Chances” for Peace and Disinflation; Cattle Market Meddling
What You Need to Know Today: Wheat futures pulled back sharply after Russian President Putin said there was a “chance” for peace and an agreement to end the war in Ukraine. There is plenty of skepticism about the opportunity for peace in Ukraine, but that didn’t stop wheat fr...
Summary of Futures
Dec 26 Corn closed at $5.435/bushel, down $0.025 from yesterday's close. Dec 26 Wheat closed at $7.74/bushel, down $0.085 from yesterday's close. Nov 26 Soybeans closed at $13.1025/bushel, down $0.075 from yesterday's close. Dec 26 Soymeal closed at $349.6/short ton, down $3 f...
Market Commentary: The Calendar Is Not in Control
Energy: Risk Over Rules Fighting between the United States and Iran over control of the Strait of Hormuz escalated overnight. Tehran accused U.S. forces of striking a residential area after U.S. Central Command said its second round of attacks in three days targeted Iranian radar systems and mi...
Black Sea Regional Analysis
Russian Grain Markets: 24–28 August 2026 During the fourth week of August, the Russian grain market continued to slide, although the pace of the decline slowed. The immediate market reaction and collapse in export activity have placed significant pressure on farmers. Price declines vary b...
Summary of Futures
Dec 26 Corn closed at $5.46/bushel, up $0.0825 from yesterday's close. Dec 26 Wheat closed at $7.825/bushel, up $0.085 from yesterday's close. Nov 26 Soybeans closed at $13.1775/bushel, up $0.2975 from yesterday's close. Dec 26 Soymeal closed at $352.6/short ton, up $7.3 from...