Phosphate and Potash Added to Critical Minerals List
The Department of the Interior has added phosphate and potash, two key fertilizer ingredients, to the official Critical Minerals List. They are part of 60 minerals deemed vital to the U.S. economy and national security, with 10 of those being newly listed, that face potential risks from disrupt...
WPI Crop Balance Sheet Forecasts
Ahead of next week’s USDA’s Crop Production and WASDE reports, WPI offers our latest projections for the corn, soybean, and wheat balance sheets. The key findings from this effort are that corn and soybean supplies are set to expand on upward yield revisions. Too, demand for corn an...
Market Commentary: Soybeans Rally as China Cuts Tariffs; Cattle Implosion Continues
Trade was once again at the forefront of the CBOT’s trade on Wednesday, with reductions in Chinese tariffs, rumors of Chinese buying, and a dimming political outlook for President Trump’s tariff regime being the most salient factors. China announced today that it will cut tari...
Market Commentary: An Appearance of Weakness
Bullish sentiments have been driving the CBOT higher since last week’s U.S.-China trade talks, but bears finally made an appearance on Tuesday. The CBOT saw the entire soy complex pullback as China has not confirmed anything about what the Trump administration claims was agreed to in Sout...
Market Commentary: Soybeans, Wheat Rally on China Buying; USDA Confirms Report Release
Rumors of Chinese buying supported soybeans and SRW wheat futures on Monday and sent both contracts to new rally highs. For soybeans, the biggest news drivers were details that the White House shared about China’s soybean purchase commitments and China’s confirmation that it will su...
The Outlook for U.S., South American, and Chinese Soy Crush Margins
CBOT board soybean crush margins have recently compressed due to the run-up in soybean prices and weakness in soyoil values. The January board crush fell from its recent high of 155.75 cents/bu on 17 October to 140.75 as of this writing, a decrease of about 10 percent. This week’s sudden...
WPI Grain Transportation Report
Dry bulk markets were quiet and mostly flat last week. Spot rates softened a little bit as vessel owners threw in the towel on waiting for improved demand. Most hopes for any recovery in rates now rests on the new U.S.-China trade deal. After the positive meeting between Presidents Xi and...
Livestock Roundup: China and U.S. Trade Deal, Red Meat Terms Unknown
The biggest news today was the announcement that China will purchase 25 MMT of soybeans per year for the next three years and 12 MMT of soybeans this year. The announcement was made in anticipation of a new trade deal. President Trump and China’s President Xi met for an hour and 45 minute...
Will China’s Purchase Agreement Move the Soybean Balance Sheet?
Thursday’s meeting between U.S. President Trump and China’s President Xi was apparently successful, based on the comments coming out of the White House and, to a lesser degree, Beijing. One of the key outcomes of the recent meeting was that China will return to purchasing U.S. soybe...
Market Commentary: Grains Consolidate while Soymeal Runs Higher and Cattle Firm
The lingering effects of trade agreements and now-confirmed export rumors were the primary drivers of the CBOT’s action on Wednesday. Tuesday’s rumors of China buying some U.S. soybeans ahead of the trade talks with the U.S. on Thursday were confirmed by Reuters and Bloomberg. The m...
Market Commentary: Grains Extend Trade-Deal Rally; Cattle Pullback Continues
The CBOT saw continued support and speculative buying from hopes for the upcoming U.S.-China Presidential meeting in South Korea on Thursday and from the recent trade deals with Japan, Vietnam, Thailand, and Malaysia. The price-depressive effects of the 2025 trade war(s) need no introduction fo...
Trump Tariffs: Preliminary Success in Asia
The Trump tariff plans are still unfolding with almost daily changes. However, on a positive note, the latest news is that China and the U.S. have reached a framework agreement prior to President Trump and President Xi meeting on Thursday in Korea at the end of Trump’s Asia tour. China&rs...
Phosphate and Potash Added to Critical Minerals List
The Department of the Interior has added phosphate and potash, two key fertilizer ingredients, to the official Critical Minerals List. They are part of 60 minerals deemed vital to the U.S. economy and national security, with 10 of those being newly listed, that face potential risks from disrupt...
WPI Crop Balance Sheet Forecasts
Ahead of next week’s USDA’s Crop Production and WASDE reports, WPI offers our latest projections for the corn, soybean, and wheat balance sheets. The key findings from this effort are that corn and soybean supplies are set to expand on upward yield revisions. Too, demand for corn an...
Market Commentary: Soybeans Rally as China Cuts Tariffs; Cattle Implosion Continues
Trade was once again at the forefront of the CBOT’s trade on Wednesday, with reductions in Chinese tariffs, rumors of Chinese buying, and a dimming political outlook for President Trump’s tariff regime being the most salient factors. China announced today that it will cut tari...
Market Commentary: An Appearance of Weakness
Bullish sentiments have been driving the CBOT higher since last week’s U.S.-China trade talks, but bears finally made an appearance on Tuesday. The CBOT saw the entire soy complex pullback as China has not confirmed anything about what the Trump administration claims was agreed to in Sout...
Market Commentary: Soybeans, Wheat Rally on China Buying; USDA Confirms Report Release
Rumors of Chinese buying supported soybeans and SRW wheat futures on Monday and sent both contracts to new rally highs. For soybeans, the biggest news drivers were details that the White House shared about China’s soybean purchase commitments and China’s confirmation that it will su...
The Outlook for U.S., South American, and Chinese Soy Crush Margins
CBOT board soybean crush margins have recently compressed due to the run-up in soybean prices and weakness in soyoil values. The January board crush fell from its recent high of 155.75 cents/bu on 17 October to 140.75 as of this writing, a decrease of about 10 percent. This week’s sudden...
WPI Grain Transportation Report
Dry bulk markets were quiet and mostly flat last week. Spot rates softened a little bit as vessel owners threw in the towel on waiting for improved demand. Most hopes for any recovery in rates now rests on the new U.S.-China trade deal. After the positive meeting between Presidents Xi and...
Livestock Roundup: China and U.S. Trade Deal, Red Meat Terms Unknown
The biggest news today was the announcement that China will purchase 25 MMT of soybeans per year for the next three years and 12 MMT of soybeans this year. The announcement was made in anticipation of a new trade deal. President Trump and China’s President Xi met for an hour and 45 minute...
Will China’s Purchase Agreement Move the Soybean Balance Sheet?
Thursday’s meeting between U.S. President Trump and China’s President Xi was apparently successful, based on the comments coming out of the White House and, to a lesser degree, Beijing. One of the key outcomes of the recent meeting was that China will return to purchasing U.S. soybe...
Market Commentary: Grains Consolidate while Soymeal Runs Higher and Cattle Firm
The lingering effects of trade agreements and now-confirmed export rumors were the primary drivers of the CBOT’s action on Wednesday. Tuesday’s rumors of China buying some U.S. soybeans ahead of the trade talks with the U.S. on Thursday were confirmed by Reuters and Bloomberg. The m...
Market Commentary: Grains Extend Trade-Deal Rally; Cattle Pullback Continues
The CBOT saw continued support and speculative buying from hopes for the upcoming U.S.-China Presidential meeting in South Korea on Thursday and from the recent trade deals with Japan, Vietnam, Thailand, and Malaysia. The price-depressive effects of the 2025 trade war(s) need no introduction fo...
Trump Tariffs: Preliminary Success in Asia
The Trump tariff plans are still unfolding with almost daily changes. However, on a positive note, the latest news is that China and the U.S. have reached a framework agreement prior to President Trump and President Xi meeting on Thursday in Korea at the end of Trump’s Asia tour. China&rs...