Export Sales
Export Sales and Shipments for March 6-12, 2026. Wheat: Net sales of 189,900 metric tons (MT) for 2025/2026 were down 58 percent from the previous week and 36 percent from the prior 4-week average. Export shipments of 383,100 MT were down 11 percent from the previous week and 7 percent from the...
45Z: The Next Big Thing or the Next Big Mess?
The U.S. Treasury Department is (still!) working on the Section 45Z Clean Fuel Production Tax Credit. The broad legislative effort for the act was launched in President Biden’s Inflation Reduction Act and picked up with some significant adjustments in President Trump’s One Big...
Livestock Roundup: Cattle on Feed Preview
USDA’s monthly cattle on feed report for March will be released tomorrow. Analysts’ pre-report consensus estimates are for the total inventory on feed to be 99.3 percent of last year. Those estimates imply an on-feed inventory of 11.5 million head. The pre-report estimates were spl...
Market Commentary: Macro Pressure and Energy Strength Lift Grain Markets
Key Market Developments Macro: Reinforcing a Higher-for-Longer Environment Today’s inflation data reinforced what markets were already beginning to price in: a more persistent, “higher for longer” rate environment. U.S. producer prices came in above expectations, with headline...
Great Timing; Farm Skeptics; War’s Impact; Thursday’s Tumults
Great Timing The workers’ union at the JBS meatpacking plant in Greeley, Colorado, is on strike. The union is demanding more pay for its members, of course, and they want the company to pay for gloves. Given the shortage of cattle, there is overcapacity in cattle slaughter, and JBS has be...
FOB Prices and Freight Rates App (Updated 18 March)
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”...
Summary of Futures
May 26 Corn closed at $4.54/bushel, up $0 from yesterday's close. May 26 Wheat closed at $5.8975/bushel, down $0.075 from yesterday's close. May 26 Soybeans closed at $11.57/bushel, up $0.0175 from yesterday's close. May 26 Soymeal closed at $311.7/short ton, down $0.5 from ye...
Market Commentary: Energies, Acreage Worries Support Soybeans; Wheat Drifts Lower
CBOT ag futures were highly mixed on Tuesday as traders recovered from Monday’s drubbing and limit-down move in soybeans and soyoil. At Monday’s close, the options market was suggesting soybeans and soyoil were trading significantly lower than the limit-down close permitted, but tho...
Greeley JBS Beef Plant on Strike
The JBS beef plant in Greeley, Colorado, went on strike yesterday. Today is day two of the labor shutdown. The Greeley plant can process about 6,000 head per day, or 5 percent of the U.S. beef supply. This is a major disruption. Notably, it comes on the heels of Tyson closing its plant in Lexin...
Livestock Industry Margins
Beef packer margins turned positive for the first time since late last year as returns improved to $53/head last week. The turnaround was driven by a strong increase in the boxed beef cutout, which rose to $388.16/cwt, while fed cattle prices declined further on the week. The threat of the labo...
Summary of Futures
May 26 Corn closed at $4.54/bushel, down $0.1325 from yesterday's close. May 26 Wheat closed at $5.9725/bushel, down $0.165 from yesterday's close. May 26 Soybeans closed at $11.5525/bushel, down $0.7 from yesterday's close. May 26 Soymeal closed at $312.2/short ton, down $10...
Export Sales
Export Sales and Shipments for March 6-12, 2026. Wheat: Net sales of 189,900 metric tons (MT) for 2025/2026 were down 58 percent from the previous week and 36 percent from the prior 4-week average. Export shipments of 383,100 MT were down 11 percent from the previous week and 7 percent from the...
45Z: The Next Big Thing or the Next Big Mess?
The U.S. Treasury Department is (still!) working on the Section 45Z Clean Fuel Production Tax Credit. The broad legislative effort for the act was launched in President Biden’s Inflation Reduction Act and picked up with some significant adjustments in President Trump’s One Big...
Livestock Roundup: Cattle on Feed Preview
USDA’s monthly cattle on feed report for March will be released tomorrow. Analysts’ pre-report consensus estimates are for the total inventory on feed to be 99.3 percent of last year. Those estimates imply an on-feed inventory of 11.5 million head. The pre-report estimates were spl...
Market Commentary: Macro Pressure and Energy Strength Lift Grain Markets
Key Market Developments Macro: Reinforcing a Higher-for-Longer Environment Today’s inflation data reinforced what markets were already beginning to price in: a more persistent, “higher for longer” rate environment. U.S. producer prices came in above expectations, with headline...
Great Timing; Farm Skeptics; War’s Impact; Thursday’s Tumults
Great Timing The workers’ union at the JBS meatpacking plant in Greeley, Colorado, is on strike. The union is demanding more pay for its members, of course, and they want the company to pay for gloves. Given the shortage of cattle, there is overcapacity in cattle slaughter, and JBS has be...
FOB Prices and Freight Rates App (Updated 18 March)
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”...
Summary of Futures
May 26 Corn closed at $4.54/bushel, up $0 from yesterday's close. May 26 Wheat closed at $5.8975/bushel, down $0.075 from yesterday's close. May 26 Soybeans closed at $11.57/bushel, up $0.0175 from yesterday's close. May 26 Soymeal closed at $311.7/short ton, down $0.5 from ye...
Market Commentary: Energies, Acreage Worries Support Soybeans; Wheat Drifts Lower
CBOT ag futures were highly mixed on Tuesday as traders recovered from Monday’s drubbing and limit-down move in soybeans and soyoil. At Monday’s close, the options market was suggesting soybeans and soyoil were trading significantly lower than the limit-down close permitted, but tho...
Greeley JBS Beef Plant on Strike
The JBS beef plant in Greeley, Colorado, went on strike yesterday. Today is day two of the labor shutdown. The Greeley plant can process about 6,000 head per day, or 5 percent of the U.S. beef supply. This is a major disruption. Notably, it comes on the heels of Tyson closing its plant in Lexin...
Livestock Industry Margins
Beef packer margins turned positive for the first time since late last year as returns improved to $53/head last week. The turnaround was driven by a strong increase in the boxed beef cutout, which rose to $388.16/cwt, while fed cattle prices declined further on the week. The threat of the labo...
Summary of Futures
May 26 Corn closed at $4.54/bushel, down $0.1325 from yesterday's close. May 26 Wheat closed at $5.9725/bushel, down $0.165 from yesterday's close. May 26 Soybeans closed at $11.5525/bushel, down $0.7 from yesterday's close. May 26 Soymeal closed at $312.2/short ton, down $10...