Black Sea Regional Analysis
Russian Grains Market: 18 – 22 August 2025 The market continues following a bearish trend, mostly related to the peak of the harvest campaign and a surplus of freshly cut grains. The export market continues driving prices inside the country and while European Russia is focused on Azov Sea...
FOB Prices and Freight Rates App (Updated 27 August)
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: CBOT Rallies, but is it a Correction or a Trend Reversal?
The CBOT turned higher at mid-week with wheat leading the way and corn and soybeans following on somewhat minor news items. Wheat saw a strong rally develop that created bullish key reversals on the charts after rumors of Asian export demand – fueled by the U.S. Gulf’s discount to R...
Black Sea Regional Analysis
Russian Grain Markets: 11 – 15 August 2025 During the second week of August, the market realized that harvesting produces all the grain the market needs and this caused bearish sentiments in most of Russia’s regions. Some regions like Siberia and Ural are sensitive to the harvesting...
Market Commentary: Green Crop Fields Create Sea of Market Red
The CBOT was sharply lower on Tuesday as traders reacted to the USDA’s Crop Progress report, in which corn, soybean, and spring wheat conditions and development were highly favorable. That, combined with high corn yield and soybean pod count estimates from various crop tours sent the mark...
Market Commentary: Corn Defies Red Trend at CBOT
The CBOT started the new week on a mixed note with wheat and soybeans turning lower while corn strengthened for the fourth straight day. Technical action was mixed as funds covered corn shorts but expanded bearish positions in wheat and, to a lesser extent, the soy complex. Fresh news was light...
European Market Analysis
Regional News The Association of German Cooperatives (DRV) raised its forecast for the German grain harvest from 41.7 MMT to 43.0 MMT, up 10 percent from the 2024 crop. Wheat production was increased from 21.6 MMT to 22.4 MMT and corn from 4.5 MMT to 4.6 MMT. Heavy July rains boosted corn yield...
Black Sea Regional Analysis
Russian Grain Markets: 4 – 8 August 2025 The speed of the harvesting campaign was the key price driver. Improved harvesting pace in the Centre and Black Soil regions made most of the grain prices plummet except for the best milling quality wheat. This is understandable as excessive rains...
WASDE Corn - August 2025
USDA’s first survey-based corn yield forecast is a record 188.8 bushels per acre, which is 7.8 bushels higher than last month’s projection. U.S. exports are increased 200 million bushels to a record 2.9 billion bushels. Regardless, U.S. ending stocks are up 457 million bushels to 2...
WASDE Wheat - August 2025
USDA increased their estimate for U.S. wheat exports by 25 million bushels to 875 million on the continued strong pace of sales and shipments, particularly for Hard Red Winter. Projected ending stocks are reduced by 21 million bushels to 869 million. Nevertheless, the 2025/26 season-average far...
Black Sea Regional Analysis
Russian Grain Markets: 28 July – 1 August 2025 The harmonizing of July old crop and new crop pricing is coming to an end. As harvesting continues with a delay, prices are volatile depending on the region. Delayed harvest often causes bullish sentiments in some individual regions but press...
Market Commentary: Pushing Toward New Lows on Bearish Supplies
There was higher volume today trading corn and hogs, and lower volume in the soy complex and SRW. New contract lows were printed for corn, SRW, and HRW. Yesterday’s crop progress report reflected potentially stellar crops and yield estimates from private analysts continue to p...
Black Sea Regional Analysis
Russian Grain Markets: 21 – 25 July 2025 During the fourth week of the new 2025/26 season, the export market was still the driving force behind pricing patterns. Harvesting entered into the active phase filling the needs on the market to the brim. As a result, domestic prices plummeted. T...
Black Sea Regional Analysis
Russian Grain Markets: 14 – 18 July 2025 The new 2025/26 season export market is the driving force behind pricing patterns asking for more goods at the premium price. The southern federal district enjoyed bullish sentiments, while the rest of the country was waking up to what is going on...
Black Sea Regional Analysis
Russian Grain Markets: 7 – 11 July 2025 The export market is drawing all the attention and in the southern (export oriented) regions of Russia, demand and hunger for more business surpass supply, thus bringing prices back to previous levels, sometimes even higher. In some regions where ha...
WASDE Corn - July 2025
USDA’s July 2025 outlook for U.S. corn is a reduction in ending stocks from the June estimate of 1.75 billion bushels to 1.66 billion bushels. U.S. corn exports were increased 100 million bushels to 2.8 billion; If realized, those exports would be record high. The seasonal average farm pr...
WASDE Wheat - July 2025
USDA’s July 2025 outlook for U.S. wheat is for a 1 bushel per acre increase in average yield to 52.6 bushels per acre. The projection is for U.S. wheat production to increase 8 million bushels to 1,929 million bushels. However, the estimate for U.S. wheat exports is raised by 25 million b...
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...
Black Sea Regional Analysis
Russian Grain Markets: 30 June – 4 July 2025 During the first week of the new season 2025/26, seasonal price depreciation continued, however, delayed harvesting was helping wheat prices rebound in the south, the Russia’s main export hub. To add fuel to the fire, yields are lower com...
Black Sea Regional Analysis
Russian Grain Markets: 23 – 27 June 2025 Grain markets remained slightly bearish because harvesting is ongoing and traditionally with and excess of grains on the market, prices are bearish. However, the first cuts of wheat showed poor results and encouraged farmers to wait and see. The av...
WPI Transportation Report
Dry Bulk Markets Dy bulk markets were mixed this week with the Capesize sector sliding lower as geopolitical uncertainty in the Middle East pushed buyers to the sidelines. The Panamax and Supramax markets saw enough support from Asian demand to sustain last week’s gains. Seasonally,...
Oilseed Highlights: Good Weather, Seasonal Factors Imply Short Profit Opportunities
The Market Oilseed markets have certainly seen no lack of volatility over the past several weeks, with the EPA’s surprise, bullish Renewable Volume Obligation (RVO) mandates release a little less than two weeks ago, which was followed by the Israel-Iran conflict. That conflict drove...
Black Sea Regional Analysis
Russian Grains Market: 18 – 22 August 2025 The market continues following a bearish trend, mostly related to the peak of the harvest campaign and a surplus of freshly cut grains. The export market continues driving prices inside the country and while European Russia is focused on Azov Sea...
FOB Prices and Freight Rates App (Updated 27 August)
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: CBOT Rallies, but is it a Correction or a Trend Reversal?
The CBOT turned higher at mid-week with wheat leading the way and corn and soybeans following on somewhat minor news items. Wheat saw a strong rally develop that created bullish key reversals on the charts after rumors of Asian export demand – fueled by the U.S. Gulf’s discount to R...
Black Sea Regional Analysis
Russian Grain Markets: 11 – 15 August 2025 During the second week of August, the market realized that harvesting produces all the grain the market needs and this caused bearish sentiments in most of Russia’s regions. Some regions like Siberia and Ural are sensitive to the harvesting...
Market Commentary: Green Crop Fields Create Sea of Market Red
The CBOT was sharply lower on Tuesday as traders reacted to the USDA’s Crop Progress report, in which corn, soybean, and spring wheat conditions and development were highly favorable. That, combined with high corn yield and soybean pod count estimates from various crop tours sent the mark...
Market Commentary: Corn Defies Red Trend at CBOT
The CBOT started the new week on a mixed note with wheat and soybeans turning lower while corn strengthened for the fourth straight day. Technical action was mixed as funds covered corn shorts but expanded bearish positions in wheat and, to a lesser extent, the soy complex. Fresh news was light...
European Market Analysis
Regional News The Association of German Cooperatives (DRV) raised its forecast for the German grain harvest from 41.7 MMT to 43.0 MMT, up 10 percent from the 2024 crop. Wheat production was increased from 21.6 MMT to 22.4 MMT and corn from 4.5 MMT to 4.6 MMT. Heavy July rains boosted corn yield...
Black Sea Regional Analysis
Russian Grain Markets: 4 – 8 August 2025 The speed of the harvesting campaign was the key price driver. Improved harvesting pace in the Centre and Black Soil regions made most of the grain prices plummet except for the best milling quality wheat. This is understandable as excessive rains...
WASDE Corn - August 2025
USDA’s first survey-based corn yield forecast is a record 188.8 bushels per acre, which is 7.8 bushels higher than last month’s projection. U.S. exports are increased 200 million bushels to a record 2.9 billion bushels. Regardless, U.S. ending stocks are up 457 million bushels to 2...
WASDE Wheat - August 2025
USDA increased their estimate for U.S. wheat exports by 25 million bushels to 875 million on the continued strong pace of sales and shipments, particularly for Hard Red Winter. Projected ending stocks are reduced by 21 million bushels to 869 million. Nevertheless, the 2025/26 season-average far...
Black Sea Regional Analysis
Russian Grain Markets: 28 July – 1 August 2025 The harmonizing of July old crop and new crop pricing is coming to an end. As harvesting continues with a delay, prices are volatile depending on the region. Delayed harvest often causes bullish sentiments in some individual regions but press...
Market Commentary: Pushing Toward New Lows on Bearish Supplies
There was higher volume today trading corn and hogs, and lower volume in the soy complex and SRW. New contract lows were printed for corn, SRW, and HRW. Yesterday’s crop progress report reflected potentially stellar crops and yield estimates from private analysts continue to p...
Black Sea Regional Analysis
Russian Grain Markets: 21 – 25 July 2025 During the fourth week of the new 2025/26 season, the export market was still the driving force behind pricing patterns. Harvesting entered into the active phase filling the needs on the market to the brim. As a result, domestic prices plummeted. T...
Black Sea Regional Analysis
Russian Grain Markets: 14 – 18 July 2025 The new 2025/26 season export market is the driving force behind pricing patterns asking for more goods at the premium price. The southern federal district enjoyed bullish sentiments, while the rest of the country was waking up to what is going on...
Black Sea Regional Analysis
Russian Grain Markets: 7 – 11 July 2025 The export market is drawing all the attention and in the southern (export oriented) regions of Russia, demand and hunger for more business surpass supply, thus bringing prices back to previous levels, sometimes even higher. In some regions where ha...
WASDE Corn - July 2025
USDA’s July 2025 outlook for U.S. corn is a reduction in ending stocks from the June estimate of 1.75 billion bushels to 1.66 billion bushels. U.S. corn exports were increased 100 million bushels to 2.8 billion; If realized, those exports would be record high. The seasonal average farm pr...
WASDE Wheat - July 2025
USDA’s July 2025 outlook for U.S. wheat is for a 1 bushel per acre increase in average yield to 52.6 bushels per acre. The projection is for U.S. wheat production to increase 8 million bushels to 1,929 million bushels. However, the estimate for U.S. wheat exports is raised by 25 million b...
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...
Black Sea Regional Analysis
Russian Grain Markets: 30 June – 4 July 2025 During the first week of the new season 2025/26, seasonal price depreciation continued, however, delayed harvesting was helping wheat prices rebound in the south, the Russia’s main export hub. To add fuel to the fire, yields are lower com...
Black Sea Regional Analysis
Russian Grain Markets: 23 – 27 June 2025 Grain markets remained slightly bearish because harvesting is ongoing and traditionally with and excess of grains on the market, prices are bearish. However, the first cuts of wheat showed poor results and encouraged farmers to wait and see. The av...
WPI Transportation Report
Dry Bulk Markets Dy bulk markets were mixed this week with the Capesize sector sliding lower as geopolitical uncertainty in the Middle East pushed buyers to the sidelines. The Panamax and Supramax markets saw enough support from Asian demand to sustain last week’s gains. Seasonally,...
Oilseed Highlights: Good Weather, Seasonal Factors Imply Short Profit Opportunities
The Market Oilseed markets have certainly seen no lack of volatility over the past several weeks, with the EPA’s surprise, bullish Renewable Volume Obligation (RVO) mandates release a little less than two weeks ago, which was followed by the Israel-Iran conflict. That conflict drove...