Market Commentary: Expected Biofuel Announcement Cannot Dislodge War Worries
Thursday marked the worst day for stocks in weeks despite word on the street to “buy,” since valuations have once again become attractive. But apparently not yet. History suggests a rebound with President Trump politically compelled to dream up some form of policy stimulus on top of...
Downside Risk for Wheat into 2026/27
The current rally in wheat futures is widely known to be driven by fund buying in response to the conflict in the Middle East. Part of the price gains has also been motivated by concerns for the HRW crop in the U.S. Plains amid dry weather and the strong U.S. wheat export pace to date. What has...
Summary of Futures
May 26 Corn closed at $4.62/bushel, down $0.05 from yesterday's close. May 26 Wheat closed at $6.05/bushel, up $0 from yesterday's close. May 26 Soybeans closed at $11.5925/bushel, down $0.145 from yesterday's close. May 26 Soymeal closed at $315.3/short ton, down $6.8 from ye...
Grassley and Smith Introduce Meat Industry Consolidation Bill
Previously, on 24 March, WPI wrote about fertilizer consolidation and an effort by Majority Leader John Thune to introduce mandatory price reporting for fertilizer, similar to the process for meat and dairy. However, the efforts to address concentration and market transparency continue. More re...
Transportation Perspectives - 27 March
President Trump’s announcement on Monday this week that the U.S. would postpone any attacks on Iranian energy facilities for five days increased hopes that a peaceful and quick resolution can be found to the war. Subsequent conflicting messaging from both sides has undermined these hopes,...
Export Sales
Export Sales and Shipments for March 13-19, 2026. Wheat: Net sales of 397,200 metric tons (MT) for 2025/2026 were up noticeably from the previous week and up 46 percent from the prior 4-week average. Export shipments of 383,500 MT were unchanged from the previous week, but down 10 percent...
Summary of Futures
May 26 Corn closed at $4.67/bushel, down $0.0025 from yesterday's close. May 26 Wheat closed at $6.05/bushel, up $0.0725 from yesterday's close. May 26 Soybeans closed at $11.7375/bushel, up $0.02 from yesterday's close. May 26 Soymeal closed at $322.1/short ton, up $2.3 from...
Market Commentary: War Worries Continue to Drive the Narrative
War-related higher energies are a mixed story for ags. They could stymie economic growth and thus demand, but they open the door for better biofuel sales. Ags were mostly in the green today, betting on the biofuel market. Reports Export Sales: Last week’s new commitments by foreign...
Why Beef and Pork Prices May Fall Despite Strong Demand
Beef prices dropped sharply this week, with the Choice cutout down about $11/cwt in the past six trading days. The move unnerved live cattle futures on Wednesday (though the market recovered Thursday) and quickly led to concerns about beef demand weakening. After all, isn’t this supposed...
Livestock Roundup: Quarterly Hogs and Pigs Report
USDA released its quarterly hogs and pigs report today. The inventory of all hogs and pigs on 1 March was 74.3 million head, up slightly from March 2025 but down 1.5 percent from 1 December. The report was in line with the previous five-year average of a decrease of 1.8 percent from December to...
Summary of Futures
May 26 Corn closed at $4.6725/bushel, up $0.0475 from yesterday's close. May 26 Wheat closed at $5.9775/bushel, up $0.0775 from yesterday's close. May 26 Soybeans closed at $11.7175/bushel, up $0.1675 from yesterday's close. May 26 Soymeal closed at $319.8/short ton, down $2.6...
Market Commentary: Demand Builds, Markets Await Confirmation
Key Market Developments Macro: Playing or Trading “Truth or Dare” We’ve entered the “truth or dare” phase of this market — where conviction takes a backseat and headlines drive direction. At any given moment, the narrative shifts: progress in negotiations on...
Market Commentary: Expected Biofuel Announcement Cannot Dislodge War Worries
Thursday marked the worst day for stocks in weeks despite word on the street to “buy,” since valuations have once again become attractive. But apparently not yet. History suggests a rebound with President Trump politically compelled to dream up some form of policy stimulus on top of...
Downside Risk for Wheat into 2026/27
The current rally in wheat futures is widely known to be driven by fund buying in response to the conflict in the Middle East. Part of the price gains has also been motivated by concerns for the HRW crop in the U.S. Plains amid dry weather and the strong U.S. wheat export pace to date. What has...
Summary of Futures
May 26 Corn closed at $4.62/bushel, down $0.05 from yesterday's close. May 26 Wheat closed at $6.05/bushel, up $0 from yesterday's close. May 26 Soybeans closed at $11.5925/bushel, down $0.145 from yesterday's close. May 26 Soymeal closed at $315.3/short ton, down $6.8 from ye...
Grassley and Smith Introduce Meat Industry Consolidation Bill
Previously, on 24 March, WPI wrote about fertilizer consolidation and an effort by Majority Leader John Thune to introduce mandatory price reporting for fertilizer, similar to the process for meat and dairy. However, the efforts to address concentration and market transparency continue. More re...
Transportation Perspectives - 27 March
President Trump’s announcement on Monday this week that the U.S. would postpone any attacks on Iranian energy facilities for five days increased hopes that a peaceful and quick resolution can be found to the war. Subsequent conflicting messaging from both sides has undermined these hopes,...
Export Sales
Export Sales and Shipments for March 13-19, 2026. Wheat: Net sales of 397,200 metric tons (MT) for 2025/2026 were up noticeably from the previous week and up 46 percent from the prior 4-week average. Export shipments of 383,500 MT were unchanged from the previous week, but down 10 percent...
Summary of Futures
May 26 Corn closed at $4.67/bushel, down $0.0025 from yesterday's close. May 26 Wheat closed at $6.05/bushel, up $0.0725 from yesterday's close. May 26 Soybeans closed at $11.7375/bushel, up $0.02 from yesterday's close. May 26 Soymeal closed at $322.1/short ton, up $2.3 from...
Market Commentary: War Worries Continue to Drive the Narrative
War-related higher energies are a mixed story for ags. They could stymie economic growth and thus demand, but they open the door for better biofuel sales. Ags were mostly in the green today, betting on the biofuel market. Reports Export Sales: Last week’s new commitments by foreign...
Why Beef and Pork Prices May Fall Despite Strong Demand
Beef prices dropped sharply this week, with the Choice cutout down about $11/cwt in the past six trading days. The move unnerved live cattle futures on Wednesday (though the market recovered Thursday) and quickly led to concerns about beef demand weakening. After all, isn’t this supposed...
Livestock Roundup: Quarterly Hogs and Pigs Report
USDA released its quarterly hogs and pigs report today. The inventory of all hogs and pigs on 1 March was 74.3 million head, up slightly from March 2025 but down 1.5 percent from 1 December. The report was in line with the previous five-year average of a decrease of 1.8 percent from December to...
Summary of Futures
May 26 Corn closed at $4.6725/bushel, up $0.0475 from yesterday's close. May 26 Wheat closed at $5.9775/bushel, up $0.0775 from yesterday's close. May 26 Soybeans closed at $11.7175/bushel, up $0.1675 from yesterday's close. May 26 Soymeal closed at $319.8/short ton, down $2.6...
Market Commentary: Demand Builds, Markets Await Confirmation
Key Market Developments Macro: Playing or Trading “Truth or Dare” We’ve entered the “truth or dare” phase of this market — where conviction takes a backseat and headlines drive direction. At any given moment, the narrative shifts: progress in negotiations on...