Summary of Futures
Dec 26 Corn closed at $4.425/bushel, down $0.055 from yesterday's close. Dec 26 Wheat closed at $5.8425/bushel, down $0.1525 from yesterday's close. Jan 27 Soybeans closed at $12.19/bushel, down $0.1175 from yesterday's close. Dec 26 Soymeal closed at $325.4/short ton, down $4...
Market Commentary: Corn and Soybean Rallies Fade as Markets Reassess USDA's November Outlook
What You Need to Know Today: The U.S. dollar continued to strengthen Thursday as persistent inflation reinforced expectations for additional Federal Reserve interest rate hikes. Higher Treasury yields have helped support the dollar, potentially reducing the competitiveness of U.S. agricultural...
Livestock Roundup: WASDE Forecasts Meat Production Down for 2026
In yesterday’s WASDE, USDA reduced its overall red meat and poultry production forecast for 2026 as declines in beef and broiler output more than offset increases in pork and turkey production. Fourth-quarter beef production was revised downward because of slower fed cattle marketings and...
Transportation Perspectives - 12 November
Key Takeaways: Dry bulk freight markets were stronger this week, but the rally was uneven and due to divergent dynamics across basins and vessel classes. Panamax markets were broadly higher, but Atlantic grain demand was primarily responsible while Asian activity was subdued. That trend...
U.S. Wool Update
Key Takeaways: World prices are strong; U.S. grower data doesn’t show it. Australia's benchmark finished the 2025/26 season 61 percent higher, while the value of the 2025 U.S. clip fell 7 percent. The U.S. clip is coarser than the wool behind the headlines. Only about 7 percent was finer...
Summary of Futures
Dec 26 Corn closed at $4.48/bushel, down $0.01 from yesterday's close. Dec 26 Wheat closed at $5.995/bushel, up $0.0675 from yesterday's close. Jan 27 Soybeans closed at $12.3075/bushel, up $0.0275 from yesterday's close. Dec 26 Soymeal closed at $329.7/short ton, up $3.2 from...
Market Commentary: Will Follow-Through Match the Headlines?
Veterans Day offers a moment to pause and recognize the people behind the uniform. To all who have served and the families who have supported them, thank you for your dedication, courage and sacrifice. Markets had plenty of headlines to digest today, and grains offered some encouraging follow-t...
Ethanol and Biodiesel Margin Outlook Amid Falling Energy Markets
Key Takeaways: The recent pullback in crude oil and other energy markets has left many in the ag and biofuels communities wondering what it means for ethanol and biodiesel prices and profit margins. WPI’s research indicates a weak but still significant link between ethanol and crud...
Alabama and Louisiana Request RFS Waivers but Approval Remains Unlikely
Key Takeaways: Alabama and Louisiana have requested partial waivers of 2027 Renewable Fuel Standard (RFS) requirements, arguing that rising compliance costs are contributing to higher fuel prices and economic hardship. Louisiana Governor Jeff Landry is encouraging neighboring states to join th...
Congress: Lame Duck Session Kicks Off with Volatile Issues
Congress is back in session for the lame-duck period, which is beginning with several contentious issues, including the farm bill, a federal funding deadline, energy legislation, and impeachment proceedings against Pete Hegseth, the Secretary of War. Emblematic of the political uncertainty, the...
Livestock Industry Margins
Beef packer margins improved $86/head last week to $174/head as sharply lower fed cattle prices more than offset weakness in wholesale beef values. Live cattle prices fell $8.30/cwt to $215.43/cwt, while the Choice cutout declined $4.63/cwt to $361.15/cwt. Margins have recovered substantially f...
FOB Prices and Freight Rates App (Updated 11 November)
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
Dec 26 Corn closed at $4.425/bushel, down $0.055 from yesterday's close. Dec 26 Wheat closed at $5.8425/bushel, down $0.1525 from yesterday's close. Jan 27 Soybeans closed at $12.19/bushel, down $0.1175 from yesterday's close. Dec 26 Soymeal closed at $325.4/short ton, down $4...
Market Commentary: Corn and Soybean Rallies Fade as Markets Reassess USDA's November Outlook
What You Need to Know Today: The U.S. dollar continued to strengthen Thursday as persistent inflation reinforced expectations for additional Federal Reserve interest rate hikes. Higher Treasury yields have helped support the dollar, potentially reducing the competitiveness of U.S. agricultural...
Livestock Roundup: WASDE Forecasts Meat Production Down for 2026
In yesterday’s WASDE, USDA reduced its overall red meat and poultry production forecast for 2026 as declines in beef and broiler output more than offset increases in pork and turkey production. Fourth-quarter beef production was revised downward because of slower fed cattle marketings and...
Transportation Perspectives - 12 November
Key Takeaways: Dry bulk freight markets were stronger this week, but the rally was uneven and due to divergent dynamics across basins and vessel classes. Panamax markets were broadly higher, but Atlantic grain demand was primarily responsible while Asian activity was subdued. That trend...
U.S. Wool Update
Key Takeaways: World prices are strong; U.S. grower data doesn’t show it. Australia's benchmark finished the 2025/26 season 61 percent higher, while the value of the 2025 U.S. clip fell 7 percent. The U.S. clip is coarser than the wool behind the headlines. Only about 7 percent was finer...
Summary of Futures
Dec 26 Corn closed at $4.48/bushel, down $0.01 from yesterday's close. Dec 26 Wheat closed at $5.995/bushel, up $0.0675 from yesterday's close. Jan 27 Soybeans closed at $12.3075/bushel, up $0.0275 from yesterday's close. Dec 26 Soymeal closed at $329.7/short ton, up $3.2 from...
Market Commentary: Will Follow-Through Match the Headlines?
Veterans Day offers a moment to pause and recognize the people behind the uniform. To all who have served and the families who have supported them, thank you for your dedication, courage and sacrifice. Markets had plenty of headlines to digest today, and grains offered some encouraging follow-t...
Ethanol and Biodiesel Margin Outlook Amid Falling Energy Markets
Key Takeaways: The recent pullback in crude oil and other energy markets has left many in the ag and biofuels communities wondering what it means for ethanol and biodiesel prices and profit margins. WPI’s research indicates a weak but still significant link between ethanol and crud...
Alabama and Louisiana Request RFS Waivers but Approval Remains Unlikely
Key Takeaways: Alabama and Louisiana have requested partial waivers of 2027 Renewable Fuel Standard (RFS) requirements, arguing that rising compliance costs are contributing to higher fuel prices and economic hardship. Louisiana Governor Jeff Landry is encouraging neighboring states to join th...
Congress: Lame Duck Session Kicks Off with Volatile Issues
Congress is back in session for the lame-duck period, which is beginning with several contentious issues, including the farm bill, a federal funding deadline, energy legislation, and impeachment proceedings against Pete Hegseth, the Secretary of War. Emblematic of the political uncertainty, the...
Livestock Industry Margins
Beef packer margins improved $86/head last week to $174/head as sharply lower fed cattle prices more than offset weakness in wholesale beef values. Live cattle prices fell $8.30/cwt to $215.43/cwt, while the Choice cutout declined $4.63/cwt to $361.15/cwt. Margins have recovered substantially f...
FOB Prices and Freight Rates App (Updated 11 November)
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”...