Recent Energy Analysis
Summary of Futures
Dec 26 Corn closed at $4.7425/bushel, down $0.0375 from yesterday's close. Dec 26 Wheat closed at $6.605/bushel, down $0.095 from yesterday's close. Nov 26 Soybeans closed at $12.6125/bushel, down $0.0175 from yesterday's close. Dec 26 Soymeal closed at $357.1/short ton, down...
CFTC COT Report Analysis
Managed money was a net seller across agricultural markets for the fourth straight week, selling a net 119,000 contracts through Tuesday’s reporting deadline and reducing the combined net-long position by 13.1 percent. Corn accounted for 70 percent of the weekly selling, while funds also...
Summary of Futures
Dec 26 Corn closed at $4.78/bushel, down $0.0275 from yesterday's close. Dec 26 Wheat closed at $6.7/bushel, down $0.0325 from yesterday's close. Nov 26 Soybeans closed at $12.63/bushel, down $0.1425 from yesterday's close. Dec 26 Soymeal closed at $359.8/short ton, down $4.7...
Summary of Futures
Dec 26 Corn closed at $4.8075/bushel, down $0.02 from yesterday's close. Dec 26 Wheat closed at $6.7325/bushel, up $0.04 from yesterday's close. Nov 26 Soybeans closed at $12.7725/bushel, down $0.065 from yesterday's close. Dec 26 Soymeal closed at $364.5/short ton, up $1.3 fr...
Summary of Futures
Dec 26 Corn closed at $4.8275/bushel, down $0.0025 from yesterday's close. Dec 26 Wheat closed at $6.6925/bushel, down $0.03 from yesterday's close. Nov 26 Soybeans closed at $12.8375/bushel, down $0.04 from yesterday's close. Dec 26 Soymeal closed at $363.2/short ton, down $5...
Crude Shipments Out of the Gulf Lower than Thought, Diesel Import Plan Challenged
Tanker-tracking data shows a smaller recovery in oil flowing through the Strait of Hormuz than previously thought. Energy Secretary Chris Wright, speaking by video to an international energy conference in Riyadh, Saudi Arabia, said that oil moving through the strait was back to 80 to 90 percent...
Summary of Futures
Dec 26 Corn closed at $4.83/bushel, up $0.0325 from yesterday's close. Dec 26 Wheat closed at $6.7225/bushel, up $0.0125 from yesterday's close. Nov 26 Soybeans closed at $12.8775/bushel, down $0.0425 from yesterday's close. Dec 26 Soymeal closed at $368.7/short ton, up $3.1 f...
Summary of Futures
Dec 26 Corn closed at $4.7975/bushel, down $0.205 from yesterday's close. Dec 26 Wheat closed at $6.71/bushel, down $0.1225 from yesterday's close. Nov 26 Soybeans closed at $12.92/bushel, up $0.045 from yesterday's close. Dec 26 Soymeal closed at $365.6/short ton, up $8 from...
A Dubious Diesel Deal
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
CFTC COT Report Analysis
Managed money was a net seller across agricultural markets for the third straight week, selling a net 43,000 contracts through Tuesday’s reporting deadline and reducing the combined net-long position to 911,000 contracts. Despite the modest overall selling, all three legs of the soy crush...
Summary of Futures
Dec 26 Corn closed at $5.0025/bushel, down $0.0175 from yesterday's close. Dec 26 Wheat closed at $6.8325/bushel, down $0.0325 from yesterday's close. Nov 26 Soybeans closed at $12.875/bushel, down $0.1 from yesterday's close. Dec 26 Soymeal closed at $357.6/short ton, down $8...
Summary of Futures
Dec 26 Corn closed at $5.02/bushel, down $0.06 from yesterday's close. Dec 26 Wheat closed at $6.865/bushel, down $0.1775 from yesterday's close. Nov 26 Soybeans closed at $12.975/bushel, down $0.055 from yesterday's close. Dec 26 Soymeal closed at $365.8/short ton, up $11 fro...
Executive Order and G7 Actions on Diesel Fuel
In a letter last week to President Trump, Zippy Duvall, president of the American Farm Bureau Federation (AFBF), wrote that diesel prices are squeezing farmers’ margins. As Duvall wrote: Higher diesel expenses are hitting farmers at one of the most fuel-intensive times of the year —...
Summary of Futures
Dec 26 Corn closed at $5.08/bushel, up $0.1075 from yesterday's close. Dec 26 Wheat closed at $7.0425/bushel, up $0.12 from yesterday's close. Nov 26 Soybeans closed at $13.03/bushel, up $0.2225 from yesterday's close. Dec 26 Soymeal closed at $354.8/short ton, up $7.7 from ye...
Summary of Futures
Dec 26 Corn closed at $4.9725/bushel, down $0.005 from yesterday's close. Dec 26 Wheat closed at $6.9225/bushel, up $0.0925 from yesterday's close. Nov 26 Soybeans closed at $12.8075/bushel, up $0.025 from yesterday's close. Dec 26 Soymeal closed at $347.1/short ton, down $0.4...
Summary of Futures
Dec 26 Corn closed at $4.9775/bushel, down $0.045 from yesterday's close. Dec 26 Wheat closed at $6.83/bushel, up $0.0025 from yesterday's close. Nov 26 Soybeans closed at $12.7825/bushel, down $0.0575 from yesterday's close. Dec 26 Soymeal closed at $347.5/short ton, down $5...
CFTC COT Report Analysis
Managed money was a slight net seller across agricultural markets for the second straight week, selling a net 63,000 contracts through Tuesday’s reporting deadline and reducing the combined net-long position to 954,000 contracts. Despite the modest overall selling, soymeal reached a new r...
Summary of Futures
Dec 26 Corn closed at $5.0225/bushel, up $0.015 from yesterday's close. Dec 26 Wheat closed at $6.8275/bushel, up $0.07 from yesterday's close. Nov 26 Soybeans closed at $12.84/bushel, down $0.09 from yesterday's close. Dec 26 Soymeal closed at $353.3/short ton, down $3.6 from...
Summary of Futures
Dec 26 Corn closed at $5.0075/bushel, down $0.2125 from yesterday's close. Dec 26 Wheat closed at $6.7575/bushel, down $0.17 from yesterday's close. Nov 26 Soybeans closed at $12.93/bushel, down $0.0475 from yesterday's close. Dec 26 Soymeal closed at $356.9/short ton, down $2...
Summary of Futures
Dec 26 Corn closed at $5.22/bushel, down $0.01 from yesterday's close. Dec 26 Wheat closed at $6.9275/bushel, up $0.04 from yesterday's close. Nov 26 Soybeans closed at $12.9775/bushel, up $0.095 from yesterday's close. Dec 26 Soymeal closed at $359/short ton, down $0.4 from y...
Energy Markets and the Slowly Disappearing Diesel Export Ban Proposal
There was encouraging news over the weekend: the White House may reject the misguided idea on Capitol Hill to ban U.S. diesel exports. What WPI has noted previously was perhaps best put by a Department of Energy report of 2022, under the Biden administration: Petroleum liquids markets are globa...
Summary of Futures
Dec 26 Corn closed at $5.23/bushel, down $0.0525 from yesterday's close. Dec 26 Wheat closed at $6.8875/bushel, down $0.145 from yesterday's close. Nov 26 Soybeans closed at $12.8825/bushel, down $0.3075 from yesterday's close. Dec 26 Soymeal closed at $359.4/short ton, down $...
Diesel Fuel Costs, One Acre at a Time
Key Takeaways: Diesel accounts for about 64 percent of U.S. farm fuel spending. For farmers, the pressing question is what a higher price adds to each field operation. Iowa farm diesel averaged $5.50/gallon in September, compared with the $2.89/gallon Iowa State assumed for its February machin...
Summary of Futures
Dec 26 Corn closed at $5.2825/bushel, up $0.0075 from yesterday's close. Dec 26 Wheat closed at $7.0325/bushel, down $0.0375 from yesterday's close. Nov 26 Soybeans closed at $13.19/bushel, up $0.015 from yesterday's close. Dec 26 Soymeal closed at $371/short ton, down $1.4 fr...
CFTC COT Report Analysis
Managed money was a slight net seller across agricultural markets for the second straight week, selling a net 3,200 contracts through Tuesday’s reporting deadline and reducing the combined net-long position to 1.017 million contracts. Despite the modest overall selling, soybeans and soyme...
Bad Ideas Redux
It’s often said that history doesn’t repeat itself, but it often rhymes. If only humanity could stop repeating the worst parts of our historic verse. Politicians, again at the center of this week’s follies, have found a way to make old mistakes sound new: announce them at a pr...
Summary of Futures
Dec 26 Corn closed at $5.275/bushel, down $0.015 from yesterday's close. Dec 26 Wheat closed at $7.07/bushel, down $0.015 from yesterday's close. Nov 26 Soybeans closed at $13.175/bushel, down $0.005 from yesterday's close. Dec 26 Soymeal closed at $372.4/short ton, up $1.8 fr...
Summary of Futures
Dec 26 Corn closed at $5.29/bushel, down $0.0775 from yesterday's close. Dec 26 Wheat closed at $7.085/bushel, down $0.0875 from yesterday's close. Nov 26 Soybeans closed at $13.18/bushel, down $0.075 from yesterday's close. Dec 26 Soymeal closed at $370.6/short ton, down $0.1...
Summary of Futures
Dec 26 Corn closed at $5.3675/bushel, down $0.0625 from yesterday's close. Dec 26 Wheat closed at $7.1725/bushel, down $0.095 from yesterday's close. Nov 26 Soybeans closed at $13.255/bushel, down $0.025 from yesterday's close. Dec 26 Soymeal closed at $370.7/short ton, up $2...
Fed’s Warsh Defies Trump on Short-Term Monetary Policy Move
Last week, the Federal Reserve’s Federal Open Market Committee (FOMC) raised the federal funds rate by 0.25 percentage point to a target range of 3.75 to 4 percent. That was the first rate hike since mid-2023, and the vote was unanimous. President Trump, who nominated Kevin Warsh in March...
Summary of Futures
Dec 26 Corn closed at $5.43/bushel, up $0.155 from yesterday's close. Dec 26 Wheat closed at $7.2675/bushel, up $0.125 from yesterday's close. Nov 26 Soybeans closed at $13.28/bushel, up $0.245 from yesterday's close. Dec 26 Soymeal closed at $368.4/short ton, up $9.8 from yes...
Summary of Futures
Dec 26 Corn closed at $5.275/bushel, down $0.03 from yesterday's close. Dec 26 Wheat closed at $7.1425/bushel, down $0.1275 from yesterday's close. Nov 26 Soybeans closed at $13.035/bushel, down $0.1625 from yesterday's close. Dec 26 Soymeal closed at $358.6/short ton, down $1...
Cattle on Feed Report: Lowest August Placements and Marketings on Record
USDA’s September cattle on feed report was released Friday, with the total number of cattle in feedlots with 1,000 head or more capacity amounting to 11.2 million head, 101 percent of last year. Placements dropped in August to their lowest total for the month since records began in 1996...
Fertilizer Shock: Concentration, Competition and the Cartel Question
What You Need to Know: U.S. fertilizer production is highly concentrated, but concentration alone does not establish that producers are operating as a cartel. Imports introduce competition unevenly: they supply nearly all U.S. potash consumption but play much smaller roles in domestic ammonia...
Summary of Futures
Dec 26 Corn closed at $5.305/bushel, down $0.0375 from yesterday's close. Dec 26 Wheat closed at $7.27/bushel, down $0.0375 from yesterday's close. Nov 26 Soybeans closed at $13.1975/bushel, down $0.0075 from yesterday's close. Dec 26 Soymeal closed at $371.3/short ton, up $5...
Summary of Futures
Dec 26 Corn closed at $5.3425/bushel, down $0.015 from yesterday's close. Dec 26 Wheat closed at $7.3075/bushel, up $0.0225 from yesterday's close. Nov 26 Soybeans closed at $13.205/bushel, up $0.0175 from yesterday's close. Dec 26 Soymeal closed at $365.6/short ton, up $0.2 f...
Summary of Futures
Dec 26 Corn closed at $5.3575/bushel, up $0.025 from yesterday's close. Dec 26 Wheat closed at $7.285/bushel, up $0.065 from yesterday's close. Nov 26 Soybeans closed at $13.1875/bushel, up $0.145 from yesterday's close. Dec 26 Soymeal closed at $365.4/short ton, up $9.2 from...
Summary of Futures
Dec 26 Corn closed at $5.3325/bushel, up $0.03 from yesterday's close. Dec 26 Wheat closed at $7.22/bushel, down $0.0325 from yesterday's close. Nov 26 Soybeans closed at $13.0425/bushel, up $0.0775 from yesterday's close. Dec 26 Soymeal closed at $356.2/short ton, up $3.4 fro...
Summary of Futures
Dec 26 Corn closed at $5.3025/bushel, down $0.035 from yesterday's close. Dec 26 Wheat closed at $7.2525/bushel, down $0.16 from yesterday's close. Nov 26 Soybeans closed at $12.965/bushel, down $0.3575 from yesterday's close. Dec 26 Soymeal closed at $352.8/short ton, down $4...
CPI, PPI, Jobs Report Adding Up to Rate Hike from FOMC
The Bureau of Labor Statistics (BLS) reported this morning that August’s rate of inflation was 0.4 percent, holding steady at 3.4 percent for the year. That matched analysts’ pre-report expectations and was even with July’s rate of 3.4 percent. For the year, food was up 2.7 pe...
Summary of Futures
Dec 26 Corn closed at $5.3375/bushel, up $0.06 from yesterday's close. Dec 26 Wheat closed at $7.4125/bushel, up $0.125 from yesterday's close. Nov 26 Soybeans closed at $13.3225/bushel, up $0.2275 from yesterday's close. Dec 26 Soymeal closed at $356.9/short ton, up $5.5 from...
Implications of $100+ per Barrel Crude Oil on Agriculture
Key Takeaways: The significance of $100-per-barrel crude depends largely on how long prices remain elevated, as sustained high energy costs are more likely to influence longer-term agricultural decisions. Higher crude oil prices raise farm production costs most directly through diesel, while a...
Summary of Futures
Dec 26 Corn closed at $5.2775/bushel, down $0.0575 from yesterday's close. Dec 26 Wheat closed at $7.2875/bushel, down $0.1825 from yesterday's close. Nov 26 Soybeans closed at $13.095/bushel, down $0.0675 from yesterday's close. Dec 26 Soymeal closed at $351.4/short ton, up $...
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...
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 $0.4 from...
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...
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...
Summary of Futures
Dec 26 Corn closed at $4.7425/bushel, down $0.0375 from yesterday's close. Dec 26 Wheat closed at $6.605/bushel, down $0.095 from yesterday's close. Nov 26 Soybeans closed at $12.6125/bushel, down $0.0175 from yesterday's close. Dec 26 Soymeal closed at $357.1/short ton, down...
CFTC COT Report Analysis
Managed money was a net seller across agricultural markets for the fourth straight week, selling a net 119,000 contracts through Tuesday’s reporting deadline and reducing the combined net-long position by 13.1 percent. Corn accounted for 70 percent of the weekly selling, while funds also...
Summary of Futures
Dec 26 Corn closed at $4.78/bushel, down $0.0275 from yesterday's close. Dec 26 Wheat closed at $6.7/bushel, down $0.0325 from yesterday's close. Nov 26 Soybeans closed at $12.63/bushel, down $0.1425 from yesterday's close. Dec 26 Soymeal closed at $359.8/short ton, down $4.7...
Summary of Futures
Dec 26 Corn closed at $4.8075/bushel, down $0.02 from yesterday's close. Dec 26 Wheat closed at $6.7325/bushel, up $0.04 from yesterday's close. Nov 26 Soybeans closed at $12.7725/bushel, down $0.065 from yesterday's close. Dec 26 Soymeal closed at $364.5/short ton, up $1.3 fr...
Summary of Futures
Dec 26 Corn closed at $4.8275/bushel, down $0.0025 from yesterday's close. Dec 26 Wheat closed at $6.6925/bushel, down $0.03 from yesterday's close. Nov 26 Soybeans closed at $12.8375/bushel, down $0.04 from yesterday's close. Dec 26 Soymeal closed at $363.2/short ton, down $5...
Crude Shipments Out of the Gulf Lower than Thought, Diesel Import Plan Challenged
Tanker-tracking data shows a smaller recovery in oil flowing through the Strait of Hormuz than previously thought. Energy Secretary Chris Wright, speaking by video to an international energy conference in Riyadh, Saudi Arabia, said that oil moving through the strait was back to 80 to 90 percent...
Summary of Futures
Dec 26 Corn closed at $4.83/bushel, up $0.0325 from yesterday's close. Dec 26 Wheat closed at $6.7225/bushel, up $0.0125 from yesterday's close. Nov 26 Soybeans closed at $12.8775/bushel, down $0.0425 from yesterday's close. Dec 26 Soymeal closed at $368.7/short ton, up $3.1 f...
Summary of Futures
Dec 26 Corn closed at $4.7975/bushel, down $0.205 from yesterday's close. Dec 26 Wheat closed at $6.71/bushel, down $0.1225 from yesterday's close. Nov 26 Soybeans closed at $12.92/bushel, up $0.045 from yesterday's close. Dec 26 Soymeal closed at $365.6/short ton, up $8 from...
A Dubious Diesel Deal
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
CFTC COT Report Analysis
Managed money was a net seller across agricultural markets for the third straight week, selling a net 43,000 contracts through Tuesday’s reporting deadline and reducing the combined net-long position to 911,000 contracts. Despite the modest overall selling, all three legs of the soy crush...
Summary of Futures
Dec 26 Corn closed at $5.0025/bushel, down $0.0175 from yesterday's close. Dec 26 Wheat closed at $6.8325/bushel, down $0.0325 from yesterday's close. Nov 26 Soybeans closed at $12.875/bushel, down $0.1 from yesterday's close. Dec 26 Soymeal closed at $357.6/short ton, down $8...
Summary of Futures
Dec 26 Corn closed at $5.02/bushel, down $0.06 from yesterday's close. Dec 26 Wheat closed at $6.865/bushel, down $0.1775 from yesterday's close. Nov 26 Soybeans closed at $12.975/bushel, down $0.055 from yesterday's close. Dec 26 Soymeal closed at $365.8/short ton, up $11 fro...
Executive Order and G7 Actions on Diesel Fuel
In a letter last week to President Trump, Zippy Duvall, president of the American Farm Bureau Federation (AFBF), wrote that diesel prices are squeezing farmers’ margins. As Duvall wrote: Higher diesel expenses are hitting farmers at one of the most fuel-intensive times of the year —...
Summary of Futures
Dec 26 Corn closed at $5.08/bushel, up $0.1075 from yesterday's close. Dec 26 Wheat closed at $7.0425/bushel, up $0.12 from yesterday's close. Nov 26 Soybeans closed at $13.03/bushel, up $0.2225 from yesterday's close. Dec 26 Soymeal closed at $354.8/short ton, up $7.7 from ye...
Summary of Futures
Dec 26 Corn closed at $4.9725/bushel, down $0.005 from yesterday's close. Dec 26 Wheat closed at $6.9225/bushel, up $0.0925 from yesterday's close. Nov 26 Soybeans closed at $12.8075/bushel, up $0.025 from yesterday's close. Dec 26 Soymeal closed at $347.1/short ton, down $0.4...
Summary of Futures
Dec 26 Corn closed at $4.9775/bushel, down $0.045 from yesterday's close. Dec 26 Wheat closed at $6.83/bushel, up $0.0025 from yesterday's close. Nov 26 Soybeans closed at $12.7825/bushel, down $0.0575 from yesterday's close. Dec 26 Soymeal closed at $347.5/short ton, down $5...
CFTC COT Report Analysis
Managed money was a slight net seller across agricultural markets for the second straight week, selling a net 63,000 contracts through Tuesday’s reporting deadline and reducing the combined net-long position to 954,000 contracts. Despite the modest overall selling, soymeal reached a new r...
Summary of Futures
Dec 26 Corn closed at $5.0225/bushel, up $0.015 from yesterday's close. Dec 26 Wheat closed at $6.8275/bushel, up $0.07 from yesterday's close. Nov 26 Soybeans closed at $12.84/bushel, down $0.09 from yesterday's close. Dec 26 Soymeal closed at $353.3/short ton, down $3.6 from...
Summary of Futures
Dec 26 Corn closed at $5.0075/bushel, down $0.2125 from yesterday's close. Dec 26 Wheat closed at $6.7575/bushel, down $0.17 from yesterday's close. Nov 26 Soybeans closed at $12.93/bushel, down $0.0475 from yesterday's close. Dec 26 Soymeal closed at $356.9/short ton, down $2...
Summary of Futures
Dec 26 Corn closed at $5.22/bushel, down $0.01 from yesterday's close. Dec 26 Wheat closed at $6.9275/bushel, up $0.04 from yesterday's close. Nov 26 Soybeans closed at $12.9775/bushel, up $0.095 from yesterday's close. Dec 26 Soymeal closed at $359/short ton, down $0.4 from y...
Energy Markets and the Slowly Disappearing Diesel Export Ban Proposal
There was encouraging news over the weekend: the White House may reject the misguided idea on Capitol Hill to ban U.S. diesel exports. What WPI has noted previously was perhaps best put by a Department of Energy report of 2022, under the Biden administration: Petroleum liquids markets are globa...
Summary of Futures
Dec 26 Corn closed at $5.23/bushel, down $0.0525 from yesterday's close. Dec 26 Wheat closed at $6.8875/bushel, down $0.145 from yesterday's close. Nov 26 Soybeans closed at $12.8825/bushel, down $0.3075 from yesterday's close. Dec 26 Soymeal closed at $359.4/short ton, down $...
Diesel Fuel Costs, One Acre at a Time
Key Takeaways: Diesel accounts for about 64 percent of U.S. farm fuel spending. For farmers, the pressing question is what a higher price adds to each field operation. Iowa farm diesel averaged $5.50/gallon in September, compared with the $2.89/gallon Iowa State assumed for its February machin...
Summary of Futures
Dec 26 Corn closed at $5.2825/bushel, up $0.0075 from yesterday's close. Dec 26 Wheat closed at $7.0325/bushel, down $0.0375 from yesterday's close. Nov 26 Soybeans closed at $13.19/bushel, up $0.015 from yesterday's close. Dec 26 Soymeal closed at $371/short ton, down $1.4 fr...
CFTC COT Report Analysis
Managed money was a slight net seller across agricultural markets for the second straight week, selling a net 3,200 contracts through Tuesday’s reporting deadline and reducing the combined net-long position to 1.017 million contracts. Despite the modest overall selling, soybeans and soyme...
Bad Ideas Redux
It’s often said that history doesn’t repeat itself, but it often rhymes. If only humanity could stop repeating the worst parts of our historic verse. Politicians, again at the center of this week’s follies, have found a way to make old mistakes sound new: announce them at a pr...
Summary of Futures
Dec 26 Corn closed at $5.275/bushel, down $0.015 from yesterday's close. Dec 26 Wheat closed at $7.07/bushel, down $0.015 from yesterday's close. Nov 26 Soybeans closed at $13.175/bushel, down $0.005 from yesterday's close. Dec 26 Soymeal closed at $372.4/short ton, up $1.8 fr...
Summary of Futures
Dec 26 Corn closed at $5.29/bushel, down $0.0775 from yesterday's close. Dec 26 Wheat closed at $7.085/bushel, down $0.0875 from yesterday's close. Nov 26 Soybeans closed at $13.18/bushel, down $0.075 from yesterday's close. Dec 26 Soymeal closed at $370.6/short ton, down $0.1...
Summary of Futures
Dec 26 Corn closed at $5.3675/bushel, down $0.0625 from yesterday's close. Dec 26 Wheat closed at $7.1725/bushel, down $0.095 from yesterday's close. Nov 26 Soybeans closed at $13.255/bushel, down $0.025 from yesterday's close. Dec 26 Soymeal closed at $370.7/short ton, up $2...
Fed’s Warsh Defies Trump on Short-Term Monetary Policy Move
Last week, the Federal Reserve’s Federal Open Market Committee (FOMC) raised the federal funds rate by 0.25 percentage point to a target range of 3.75 to 4 percent. That was the first rate hike since mid-2023, and the vote was unanimous. President Trump, who nominated Kevin Warsh in March...
Summary of Futures
Dec 26 Corn closed at $5.43/bushel, up $0.155 from yesterday's close. Dec 26 Wheat closed at $7.2675/bushel, up $0.125 from yesterday's close. Nov 26 Soybeans closed at $13.28/bushel, up $0.245 from yesterday's close. Dec 26 Soymeal closed at $368.4/short ton, up $9.8 from yes...
Summary of Futures
Dec 26 Corn closed at $5.275/bushel, down $0.03 from yesterday's close. Dec 26 Wheat closed at $7.1425/bushel, down $0.1275 from yesterday's close. Nov 26 Soybeans closed at $13.035/bushel, down $0.1625 from yesterday's close. Dec 26 Soymeal closed at $358.6/short ton, down $1...
Cattle on Feed Report: Lowest August Placements and Marketings on Record
USDA’s September cattle on feed report was released Friday, with the total number of cattle in feedlots with 1,000 head or more capacity amounting to 11.2 million head, 101 percent of last year. Placements dropped in August to their lowest total for the month since records began in 1996...
Fertilizer Shock: Concentration, Competition and the Cartel Question
What You Need to Know: U.S. fertilizer production is highly concentrated, but concentration alone does not establish that producers are operating as a cartel. Imports introduce competition unevenly: they supply nearly all U.S. potash consumption but play much smaller roles in domestic ammonia...
Summary of Futures
Dec 26 Corn closed at $5.305/bushel, down $0.0375 from yesterday's close. Dec 26 Wheat closed at $7.27/bushel, down $0.0375 from yesterday's close. Nov 26 Soybeans closed at $13.1975/bushel, down $0.0075 from yesterday's close. Dec 26 Soymeal closed at $371.3/short ton, up $5...
Summary of Futures
Dec 26 Corn closed at $5.3425/bushel, down $0.015 from yesterday's close. Dec 26 Wheat closed at $7.3075/bushel, up $0.0225 from yesterday's close. Nov 26 Soybeans closed at $13.205/bushel, up $0.0175 from yesterday's close. Dec 26 Soymeal closed at $365.6/short ton, up $0.2 f...
Summary of Futures
Dec 26 Corn closed at $5.3575/bushel, up $0.025 from yesterday's close. Dec 26 Wheat closed at $7.285/bushel, up $0.065 from yesterday's close. Nov 26 Soybeans closed at $13.1875/bushel, up $0.145 from yesterday's close. Dec 26 Soymeal closed at $365.4/short ton, up $9.2 from...
Summary of Futures
Dec 26 Corn closed at $5.3325/bushel, up $0.03 from yesterday's close. Dec 26 Wheat closed at $7.22/bushel, down $0.0325 from yesterday's close. Nov 26 Soybeans closed at $13.0425/bushel, up $0.0775 from yesterday's close. Dec 26 Soymeal closed at $356.2/short ton, up $3.4 fro...
Summary of Futures
Dec 26 Corn closed at $5.3025/bushel, down $0.035 from yesterday's close. Dec 26 Wheat closed at $7.2525/bushel, down $0.16 from yesterday's close. Nov 26 Soybeans closed at $12.965/bushel, down $0.3575 from yesterday's close. Dec 26 Soymeal closed at $352.8/short ton, down $4...
CPI, PPI, Jobs Report Adding Up to Rate Hike from FOMC
The Bureau of Labor Statistics (BLS) reported this morning that August’s rate of inflation was 0.4 percent, holding steady at 3.4 percent for the year. That matched analysts’ pre-report expectations and was even with July’s rate of 3.4 percent. For the year, food was up 2.7 pe...
Summary of Futures
Dec 26 Corn closed at $5.3375/bushel, up $0.06 from yesterday's close. Dec 26 Wheat closed at $7.4125/bushel, up $0.125 from yesterday's close. Nov 26 Soybeans closed at $13.3225/bushel, up $0.2275 from yesterday's close. Dec 26 Soymeal closed at $356.9/short ton, up $5.5 from...
Implications of $100+ per Barrel Crude Oil on Agriculture
Key Takeaways: The significance of $100-per-barrel crude depends largely on how long prices remain elevated, as sustained high energy costs are more likely to influence longer-term agricultural decisions. Higher crude oil prices raise farm production costs most directly through diesel, while a...
Summary of Futures
Dec 26 Corn closed at $5.2775/bushel, down $0.0575 from yesterday's close. Dec 26 Wheat closed at $7.2875/bushel, down $0.1825 from yesterday's close. Nov 26 Soybeans closed at $13.095/bushel, down $0.0675 from yesterday's close. Dec 26 Soymeal closed at $351.4/short ton, up $...
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...
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 $0.4 from...
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...
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...