Recent Feed Grains Analysis
Market Commentary: Grains Give up Gains while Cattle Turn Higher on Cash Trade
The CBOT saw its typical low-volume post-Christmas trading session on Friday, but low trading volume didn’t stop the markets from making some notable technical moves. The first of which, on a broad scale, is that early strength in corn, the soy complex, and to a lesser extent wheat, all f...
Summary of Futures
Mar 26 Corn closed at $4.5/bushel, down $0.01 from yesterday's close. Mar 26 Wheat closed at $5.19/bushel, down $0.0275 from yesterday's close. Mar 26 Soybeans closed at $10.725/bushel, down $0.04 from yesterday's close. Mar 26 Soymeal closed at $307.4/short ton, down $0.7 fro...
Market Commentary: Exports, Conflict, Dry Weather Boost CBOT Before Holiday
The CBOT was mostly higher before the Christmas holiday with grains in the lead, though with each market seeing a different fundamental driver. Wheat futures rallied on the once-again-escalating tensions in the Black Sea and dry weather in the U.S. southern plains that has left the wheat crop v...
Summary of Futures
Mar 26 Corn closed at $4.51/bushel, up $0.035 from yesterday's close. Mar 26 Wheat closed at $5.2175/bushel, up $0.0475 from yesterday's close. Jan 26 Soybeans closed at $10.6325/bushel, up $0.1175 from yesterday's close. Mar 26 Soymeal closed at $308.1/short ton, up $3.9 from...
Black Sea Regional Analysis
Russian Grains Market: 15–19 December 2025 Russia’s grain markets remained stable and bearish, with weak domestic and export demand limiting price gains. Trade activity was slow, and a strong ruble prompted the government to maintain export duties. Global wheat supply remains ample,...
CFTC COT Report Analysis
Friday’s CFTC report showed managed money traders paring back long positions across the ag space as technical conditions quickly deteriorated for the soy complex and corn. Funds shed nearly 170,000 contracts from their all-ags position last week, with about 90 percent of that coming from...
Market Commentary: The Tempo not the Quantum
Everyone knows the volume traded this week will be lower, but there is no break in the directional adjustments. The corn market still had to continue its march higher, worries about wheat supplies moving out of Ukraine and even volume was not totally lower with soymeal and lean hog trading keep...
Summary of Futures
Mar 26 Corn closed at $4.475/bushel, up $0.005 from yesterday's close. Mar 26 Wheat closed at $5.17/bushel, up $0.015 from yesterday's close. Jan 26 Soybeans closed at $10.515/bushel, down $0.0175 from yesterday's close. Mar 26 Soymeal closed at $304.2/short ton, up $2.3 from...
European Market Analysis
Regional News Russia’s latest attacks on Ukraine’s Odesa Black Sea port infrastructure on 23 December reportedly damaged a vessel carrying Ukrainian soybeans. The EU Commission raised its forecast of EU common wheat production to 134.4 MMT for 2025/26 and bumped th...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Egypt’s Safaga port, south on the Red Sea, will be expanded and improved as a result of an agreement between Egypt’s Al Dahra Agriculture and Abu Dhabi based AD Pors Group. There are plans to make Safaga into a regiona...
Market Commentary: CBOT Bounces on Short-Covering and Positive Export Data
The CBOT turned higher on Monday with positive export data from USDA and a healthy dose of bottom-picking and pre-holiday short covering driving the upside action. Corn was the upside leader for the day as export shipments remain strong with foreign buyers and end-users picking up the purchase...
Summary of Futures
Mar 26 Corn closed at $4.47/bushel, up $0.0325 from yesterday's close. Mar 26 Wheat closed at $5.155/bushel, up $0.0575 from yesterday's close. Jan 26 Soybeans closed at $10.5325/bushel, up $0.04 from yesterday's close. Mar 26 Soymeal closed at $301.9/short ton, up $0.8 from y...
CFTC COT Report Analysis
The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity markets. The data is, of course, taken from the CFTC's weekly Commitment of Traders report, using the futures only data. WPI recently completed a...
Mercosur Regional Analysis
WHEAT Harvest advanced 13.1 percent week-over-week, reaching 73 percent of total area, with yields remaining above average and above earlier expectations. As a result, the Buenos Aires Grain Exchange raised its production estimate to 27.1 MMT, broadly in line with the Rosario Board of Trade&rsq...
Market Commentary: Volume Gives Way as Bearish Slide Moderates
There was lower volume in the grain pits today, with perhaps some stronger interest in the last few days of holiday shopping. Traders were not buying corn or soybeans for their loved ones today, but maybe a wee bit of HRS, which closed up today and uniquely was higher for the week. There were...
Summary of Futures
Mar 26 Corn closed at $4.4375/bushel, down $0.0075 from yesterday's close. Mar 26 Wheat closed at $5.0975/bushel, up $0.02 from yesterday's close. Jan 26 Soybeans closed at $10.4925/bushel, down $0.03 from yesterday's close. Jan 26 Soymeal closed at $297.6/short ton, down $0.8...
Market Commentary: Corn Firm, Bean Weak, Weak Wheat Rebound
Overall, it remains a sideways market with corn showing the most confidence but overall market weakness that is both seasonal, and reflective of the fundamentals. China’s purchases of soybeans are now humdrum, but rumor of a possible Chinese corn purchase added a little spice to the marke...
Summary of Futures
Mar 26 Corn closed at $4.445/bushel, up $0.04 from yesterday's close. Mar 26 Wheat closed at $5.0775/bushel, up $0.015 from yesterday's close. Jan 26 Soybeans closed at $10.5225/bushel, down $0.06 from yesterday's close. Jan 26 Soymeal closed at $298.4/short ton, up $0.2 from...
Export Sales
Export Sales and Shipments data for the week ending Nov 27, 2025...
CFTC COT Report Analysis
The following tables/charts reflect the CFTC's latest data release, which covers traders' positions through 2 December. The data are, obviously, delayed due to the 40-day 2025 U.S. government shutdown. While the positions below likely have little influence on today's markets or fund positioning...
Market Commentary: Corn Bounces while Wheat, Soybeans Fall Further
Bears were once again in charge of the CBOT on Wednesday, though they temporarily relinquished control of the corn market to bulls. Funds were aggressive sellers again in soybeans, soymeal, and wheat futures amid bearish fundamentals for each of the commodities and pushed wheat to a new contrac...
Summary of Futures
Mar 26 Corn closed at $4.405/bushel, up $0.04 from yesterday's close. Mar 26 Wheat closed at $5.0625/bushel, down $0.0325 from yesterday's close. Jan 26 Soybeans closed at $10.5825/bushel, down $0.045 from yesterday's close. Jan 26 Soymeal closed at $298.2/short ton, down $4.2...
Black Sea Regional Analysis
Russian Grains Market: 8–12 December 2025 Russia’s grain market continued its bearish trend that began in early December. Global fundamentals remain the primary pressure point, and Russia is no exception given its strong linkage to international trade flows. Exceptions include barte...
Market Commentary: Grains Give up Gains while Cattle Turn Higher on Cash Trade
The CBOT saw its typical low-volume post-Christmas trading session on Friday, but low trading volume didn’t stop the markets from making some notable technical moves. The first of which, on a broad scale, is that early strength in corn, the soy complex, and to a lesser extent wheat, all f...
Summary of Futures
Mar 26 Corn closed at $4.5/bushel, down $0.01 from yesterday's close. Mar 26 Wheat closed at $5.19/bushel, down $0.0275 from yesterday's close. Mar 26 Soybeans closed at $10.725/bushel, down $0.04 from yesterday's close. Mar 26 Soymeal closed at $307.4/short ton, down $0.7 fro...
Market Commentary: Exports, Conflict, Dry Weather Boost CBOT Before Holiday
The CBOT was mostly higher before the Christmas holiday with grains in the lead, though with each market seeing a different fundamental driver. Wheat futures rallied on the once-again-escalating tensions in the Black Sea and dry weather in the U.S. southern plains that has left the wheat crop v...
Summary of Futures
Mar 26 Corn closed at $4.51/bushel, up $0.035 from yesterday's close. Mar 26 Wheat closed at $5.2175/bushel, up $0.0475 from yesterday's close. Jan 26 Soybeans closed at $10.6325/bushel, up $0.1175 from yesterday's close. Mar 26 Soymeal closed at $308.1/short ton, up $3.9 from...
Black Sea Regional Analysis
Russian Grains Market: 15–19 December 2025 Russia’s grain markets remained stable and bearish, with weak domestic and export demand limiting price gains. Trade activity was slow, and a strong ruble prompted the government to maintain export duties. Global wheat supply remains ample,...
CFTC COT Report Analysis
Friday’s CFTC report showed managed money traders paring back long positions across the ag space as technical conditions quickly deteriorated for the soy complex and corn. Funds shed nearly 170,000 contracts from their all-ags position last week, with about 90 percent of that coming from...
Market Commentary: The Tempo not the Quantum
Everyone knows the volume traded this week will be lower, but there is no break in the directional adjustments. The corn market still had to continue its march higher, worries about wheat supplies moving out of Ukraine and even volume was not totally lower with soymeal and lean hog trading keep...
Summary of Futures
Mar 26 Corn closed at $4.475/bushel, up $0.005 from yesterday's close. Mar 26 Wheat closed at $5.17/bushel, up $0.015 from yesterday's close. Jan 26 Soybeans closed at $10.515/bushel, down $0.0175 from yesterday's close. Mar 26 Soymeal closed at $304.2/short ton, up $2.3 from...
European Market Analysis
Regional News Russia’s latest attacks on Ukraine’s Odesa Black Sea port infrastructure on 23 December reportedly damaged a vessel carrying Ukrainian soybeans. The EU Commission raised its forecast of EU common wheat production to 134.4 MMT for 2025/26 and bumped th...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Egypt’s Safaga port, south on the Red Sea, will be expanded and improved as a result of an agreement between Egypt’s Al Dahra Agriculture and Abu Dhabi based AD Pors Group. There are plans to make Safaga into a regiona...
Market Commentary: CBOT Bounces on Short-Covering and Positive Export Data
The CBOT turned higher on Monday with positive export data from USDA and a healthy dose of bottom-picking and pre-holiday short covering driving the upside action. Corn was the upside leader for the day as export shipments remain strong with foreign buyers and end-users picking up the purchase...
Summary of Futures
Mar 26 Corn closed at $4.47/bushel, up $0.0325 from yesterday's close. Mar 26 Wheat closed at $5.155/bushel, up $0.0575 from yesterday's close. Jan 26 Soybeans closed at $10.5325/bushel, up $0.04 from yesterday's close. Mar 26 Soymeal closed at $301.9/short ton, up $0.8 from y...
CFTC COT Report Analysis
The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity markets. The data is, of course, taken from the CFTC's weekly Commitment of Traders report, using the futures only data. WPI recently completed a...
Mercosur Regional Analysis
WHEAT Harvest advanced 13.1 percent week-over-week, reaching 73 percent of total area, with yields remaining above average and above earlier expectations. As a result, the Buenos Aires Grain Exchange raised its production estimate to 27.1 MMT, broadly in line with the Rosario Board of Trade&rsq...
Market Commentary: Volume Gives Way as Bearish Slide Moderates
There was lower volume in the grain pits today, with perhaps some stronger interest in the last few days of holiday shopping. Traders were not buying corn or soybeans for their loved ones today, but maybe a wee bit of HRS, which closed up today and uniquely was higher for the week. There were...
Summary of Futures
Mar 26 Corn closed at $4.4375/bushel, down $0.0075 from yesterday's close. Mar 26 Wheat closed at $5.0975/bushel, up $0.02 from yesterday's close. Jan 26 Soybeans closed at $10.4925/bushel, down $0.03 from yesterday's close. Jan 26 Soymeal closed at $297.6/short ton, down $0.8...
Market Commentary: Corn Firm, Bean Weak, Weak Wheat Rebound
Overall, it remains a sideways market with corn showing the most confidence but overall market weakness that is both seasonal, and reflective of the fundamentals. China’s purchases of soybeans are now humdrum, but rumor of a possible Chinese corn purchase added a little spice to the marke...
Summary of Futures
Mar 26 Corn closed at $4.445/bushel, up $0.04 from yesterday's close. Mar 26 Wheat closed at $5.0775/bushel, up $0.015 from yesterday's close. Jan 26 Soybeans closed at $10.5225/bushel, down $0.06 from yesterday's close. Jan 26 Soymeal closed at $298.4/short ton, up $0.2 from...
Export Sales
Export Sales and Shipments data for the week ending Nov 27, 2025...
CFTC COT Report Analysis
The following tables/charts reflect the CFTC's latest data release, which covers traders' positions through 2 December. The data are, obviously, delayed due to the 40-day 2025 U.S. government shutdown. While the positions below likely have little influence on today's markets or fund positioning...
Market Commentary: Corn Bounces while Wheat, Soybeans Fall Further
Bears were once again in charge of the CBOT on Wednesday, though they temporarily relinquished control of the corn market to bulls. Funds were aggressive sellers again in soybeans, soymeal, and wheat futures amid bearish fundamentals for each of the commodities and pushed wheat to a new contrac...
Summary of Futures
Mar 26 Corn closed at $4.405/bushel, up $0.04 from yesterday's close. Mar 26 Wheat closed at $5.0625/bushel, down $0.0325 from yesterday's close. Jan 26 Soybeans closed at $10.5825/bushel, down $0.045 from yesterday's close. Jan 26 Soymeal closed at $298.2/short ton, down $4.2...
Black Sea Regional Analysis
Russian Grains Market: 8–12 December 2025 Russia’s grain market continued its bearish trend that began in early December. Global fundamentals remain the primary pressure point, and Russia is no exception given its strong linkage to international trade flows. Exceptions include barte...