Summary of Futures
Dec 25 Corn closed at $4.0325/bushel, down $0.0325 from yesterday's close. Sep 25 Wheat closed at $4.985/bushel, down $0.0425 from yesterday's close. Nov 25 Soybeans closed at $10.3375/bushel, down $0.075 from yesterday's close. Dec 25 Soymeal closed at $295.9/short ton, up $4...
Market Commentary: Green Crop Fields Create Sea of Market Red
The CBOT was sharply lower on Tuesday as traders reacted to the USDA’s Crop Progress report, in which corn, soybean, and spring wheat conditions and development were highly favorable. That, combined with high corn yield and soybean pod count estimates from various crop tours sent the mark...
MAHA Draft Report Softens Pesticide Language
On 13 February President Trump signed Executive Order 14212 entitled “Establishing the President’s Make America Healthy Again Commission (MAHA),” establishing the commission and charging it to submit an assessment on the status of the health of America, which was submitted on...
Weaponizing Trade; De-Weaponizing MAHA
Weaponizing Trade Using trade to influence geopolitical outcomes is not new but its use has intensified. While some might use the U.S. as the cause of its escalation, the American reaction is more of a lag effect to pre-existing conditions. Australia and now Canada can attest that China’s...
Livestock Industry Margins
Beef packer margins improved for the second straight week, adding more than $100/head to profits thanks to record highs in the beef market. Margins remain deeply negative, however, which will be a concern for cattle markets going forward. One encouraging factor is the broad-based strength acros...
Market Commentary: Corn Defies Red Trend at CBOT
The CBOT started the new week on a mixed note with wheat and soybeans turning lower while corn strengthened for the fourth straight day. Technical action was mixed as funds covered corn shorts but expanded bearish positions in wheat and, to a lesser extent, the soy complex. Fresh news was light...
Summary of Futures
Dec 25 Corn closed at $4.065/bushel, up $0.0125 from yesterday's close. Sep 25 Wheat closed at $5.0275/bushel, down $0.0375 from yesterday's close. Nov 25 Soybeans closed at $10.4125/bushel, down $0.0125 from yesterday's close. Dec 25 Soymeal closed at $291.8/short ton, down $...
WPI Crop Progress and Conditions App (Updated 18 August)
Update for 28 April 2025: Last year, users pointed out differences between the 5-year averages reported in this app and what USDA estimates in its weekly report. The difference exists because WPI calculates average based on the last 5 years of observations for the current week. In cases where o...
Oil Cost and Input Forecast
According to the latest Short Term Energy Outlook (STEO), U.S. petroleum production is forecast to hit 13.41 million barrels per day (bpd) in 2025 due primarily to improved well productivity. Increased supply will lower prices in 2026 and result in a fall in output to 13.28 million bpd in...
Negotiating Positions; Righteous Stand
Negotiating Positions Ukrainian President Volodymyr Zelensky is being joined in Washington today by EU leaders as they discuss with President Trump the next possible steps in the peace effort with Russia. European leaders bristled over being left out of the initial talks last Friday with Vladim...
CFTC COT Report Analysis
Friday’s CFTC report showed managed money traders paring back their slightly bearish combined bets across the ag space. The past several weeks have featured few meaningful changes in the net ag position — the sum of funds’ holdings across corn, the soy complex, all three class...
Market Commentary: A Strong Close for the Week
Markets were higher in the overnight and were all green at the open this morning. By the end of the session, most remained higher except meal and HRS. It was mostly a bounce back Friday instead of a profit taking end of the week. Though there was generally some of the lowest volumes traded for...
Summary of Futures
Dec 25 Corn closed at $4.0325/bushel, down $0.0325 from yesterday's close. Sep 25 Wheat closed at $4.985/bushel, down $0.0425 from yesterday's close. Nov 25 Soybeans closed at $10.3375/bushel, down $0.075 from yesterday's close. Dec 25 Soymeal closed at $295.9/short ton, up $4...
Market Commentary: Green Crop Fields Create Sea of Market Red
The CBOT was sharply lower on Tuesday as traders reacted to the USDA’s Crop Progress report, in which corn, soybean, and spring wheat conditions and development were highly favorable. That, combined with high corn yield and soybean pod count estimates from various crop tours sent the mark...
MAHA Draft Report Softens Pesticide Language
On 13 February President Trump signed Executive Order 14212 entitled “Establishing the President’s Make America Healthy Again Commission (MAHA),” establishing the commission and charging it to submit an assessment on the status of the health of America, which was submitted on...
Weaponizing Trade; De-Weaponizing MAHA
Weaponizing Trade Using trade to influence geopolitical outcomes is not new but its use has intensified. While some might use the U.S. as the cause of its escalation, the American reaction is more of a lag effect to pre-existing conditions. Australia and now Canada can attest that China’s...
Livestock Industry Margins
Beef packer margins improved for the second straight week, adding more than $100/head to profits thanks to record highs in the beef market. Margins remain deeply negative, however, which will be a concern for cattle markets going forward. One encouraging factor is the broad-based strength acros...
Market Commentary: Corn Defies Red Trend at CBOT
The CBOT started the new week on a mixed note with wheat and soybeans turning lower while corn strengthened for the fourth straight day. Technical action was mixed as funds covered corn shorts but expanded bearish positions in wheat and, to a lesser extent, the soy complex. Fresh news was light...
Summary of Futures
Dec 25 Corn closed at $4.065/bushel, up $0.0125 from yesterday's close. Sep 25 Wheat closed at $5.0275/bushel, down $0.0375 from yesterday's close. Nov 25 Soybeans closed at $10.4125/bushel, down $0.0125 from yesterday's close. Dec 25 Soymeal closed at $291.8/short ton, down $...
WPI Crop Progress and Conditions App (Updated 18 August)
Update for 28 April 2025: Last year, users pointed out differences between the 5-year averages reported in this app and what USDA estimates in its weekly report. The difference exists because WPI calculates average based on the last 5 years of observations for the current week. In cases where o...
Oil Cost and Input Forecast
According to the latest Short Term Energy Outlook (STEO), U.S. petroleum production is forecast to hit 13.41 million barrels per day (bpd) in 2025 due primarily to improved well productivity. Increased supply will lower prices in 2026 and result in a fall in output to 13.28 million bpd in...
Negotiating Positions; Righteous Stand
Negotiating Positions Ukrainian President Volodymyr Zelensky is being joined in Washington today by EU leaders as they discuss with President Trump the next possible steps in the peace effort with Russia. European leaders bristled over being left out of the initial talks last Friday with Vladim...
CFTC COT Report Analysis
Friday’s CFTC report showed managed money traders paring back their slightly bearish combined bets across the ag space. The past several weeks have featured few meaningful changes in the net ag position — the sum of funds’ holdings across corn, the soy complex, all three class...
Market Commentary: A Strong Close for the Week
Markets were higher in the overnight and were all green at the open this morning. By the end of the session, most remained higher except meal and HRS. It was mostly a bounce back Friday instead of a profit taking end of the week. Though there was generally some of the lowest volumes traded for...