Market Commentary: Green Despite Many Obstacles
There was mostly green on the board for Friday and for the week as a whole. Another contract high was printed by soyoil as higher energies, higher inflation, and heightened geopolitical tensions all favored commodities. There are some topical contrasts. For example, the cattle market is t...
Summary of Futures
May 26 Corn closed at $4.485/bushel, up $0.05 from yesterday's close. May 26 Wheat closed at $5.915/bushel, up $0.17 from yesterday's close. May 26 Soybeans closed at $11.7075/bushel, up $0.0725 from yesterday's close. May 26 Soymeal closed at $320.5/short ton, down $0.4 from...
Cold Storage Report: Up over Last Month, Down on the Year
The Cold Storage report for January showed that red meat and poultry supplies rose from the month ending December, but total supplies are down from a year ago and well below the 5-year average. Total supplies were 1.878 billion pounds, down 2.5 percent from a year ago. This indicates a tighteni...
Hog and Pork Outlook
The recent volatility in lean hog futures — from fresh contract highs at the end of January to the dramatic early-February selloff — has many in the industry (and WPI clients) wondering what will happen next. WPI’s latest analysis indicates that while pork demand remains stron...
Transportation and Export Report - 26 February
The start of 2026 has been the exact opposite of what dry bulk markets and traders expected at the end of 2025. Typically, the Lunar New Year and post-holiday demand lulls mean that Q1 freight rates are often the weakest of the year. This year, however, rates rallied sharply on unexpected deman...
Market Commentary: Late Corn Rally; Soyoil Aborts Complex; Wheat Splits
A mostly bullish overnight session was not sustained, splitting the soy complex and wheat. Corn rallied late to avert a loss. The morning opened with USDA’s Export Sales report reflecting the turn by buyers to lower-cost sources. There was good volume trading corn and the soy complex, and...
Summary of Futures
May 26 Corn closed at $4.435/bushel, up $0.015 from yesterday's close. May 26 Wheat closed at $5.745/bushel, up $0.0475 from yesterday's close. May 26 Soybeans closed at $11.635/bushel, down $0.015 from yesterday's close. May 26 Soymeal closed at $320.9/short ton, down $0.9 fr...
Export Sales
Export Sales and Shipments for February 13-19, 2026 Wheat: Net sales of 243,000 metric tons (MT) for 2025/2026 were down 16 percent from the previous week and 43 percent from the prior 4-week average. Export shipments of 540,000 MT were up 67 percent from the previous week and 28 percent...
Livestock Round Up: Wholesale Protein CPI
During the State of the Union (SOTU) address, President Trump made several claims about food prices, citing reductions in costs to consumers. Food inflation is a major issue for voters, and the President is hyper-focused on beef prices in particular prior to the 2026 mid-term elections. The fin...
U.S. Soy & Product Export Trends
With soybean and soy product exports frequently in the headlines amid the ongoing tariff and policy shifts from Washington, examining export trends is increasingly important. Thursday’s updated Export Sales report from the USDA offered some interesting statistics for these markets, and WP...
Market Commentary: Stable Policy, Conditional Demand, Weather Emerging as the Next Risk
Key Market Developments While tariffs were not addressed directly in the State of the Union, trade policy remains steady. Reports during today’s session confirmed that U.S. tariffs on China will remain in the 35 percent–50 percent range, signaling limited escalation ahead of upcomin...
Policy Roundup
Fuzzy Math Among President Trump’s various assertions in last night’s State of the Union address was that tariffs would someday replace the income tax, but that is a mathematical impossibility. The value of imported goods is around $3 trillion, and the income tax generates nearly $5...
Market Commentary: Green Despite Many Obstacles
There was mostly green on the board for Friday and for the week as a whole. Another contract high was printed by soyoil as higher energies, higher inflation, and heightened geopolitical tensions all favored commodities. There are some topical contrasts. For example, the cattle market is t...
Summary of Futures
May 26 Corn closed at $4.485/bushel, up $0.05 from yesterday's close. May 26 Wheat closed at $5.915/bushel, up $0.17 from yesterday's close. May 26 Soybeans closed at $11.7075/bushel, up $0.0725 from yesterday's close. May 26 Soymeal closed at $320.5/short ton, down $0.4 from...
Cold Storage Report: Up over Last Month, Down on the Year
The Cold Storage report for January showed that red meat and poultry supplies rose from the month ending December, but total supplies are down from a year ago and well below the 5-year average. Total supplies were 1.878 billion pounds, down 2.5 percent from a year ago. This indicates a tighteni...
Hog and Pork Outlook
The recent volatility in lean hog futures — from fresh contract highs at the end of January to the dramatic early-February selloff — has many in the industry (and WPI clients) wondering what will happen next. WPI’s latest analysis indicates that while pork demand remains stron...
Transportation and Export Report - 26 February
The start of 2026 has been the exact opposite of what dry bulk markets and traders expected at the end of 2025. Typically, the Lunar New Year and post-holiday demand lulls mean that Q1 freight rates are often the weakest of the year. This year, however, rates rallied sharply on unexpected deman...
Market Commentary: Late Corn Rally; Soyoil Aborts Complex; Wheat Splits
A mostly bullish overnight session was not sustained, splitting the soy complex and wheat. Corn rallied late to avert a loss. The morning opened with USDA’s Export Sales report reflecting the turn by buyers to lower-cost sources. There was good volume trading corn and the soy complex, and...
Summary of Futures
May 26 Corn closed at $4.435/bushel, up $0.015 from yesterday's close. May 26 Wheat closed at $5.745/bushel, up $0.0475 from yesterday's close. May 26 Soybeans closed at $11.635/bushel, down $0.015 from yesterday's close. May 26 Soymeal closed at $320.9/short ton, down $0.9 fr...
Export Sales
Export Sales and Shipments for February 13-19, 2026 Wheat: Net sales of 243,000 metric tons (MT) for 2025/2026 were down 16 percent from the previous week and 43 percent from the prior 4-week average. Export shipments of 540,000 MT were up 67 percent from the previous week and 28 percent...
Livestock Round Up: Wholesale Protein CPI
During the State of the Union (SOTU) address, President Trump made several claims about food prices, citing reductions in costs to consumers. Food inflation is a major issue for voters, and the President is hyper-focused on beef prices in particular prior to the 2026 mid-term elections. The fin...
U.S. Soy & Product Export Trends
With soybean and soy product exports frequently in the headlines amid the ongoing tariff and policy shifts from Washington, examining export trends is increasingly important. Thursday’s updated Export Sales report from the USDA offered some interesting statistics for these markets, and WP...
Market Commentary: Stable Policy, Conditional Demand, Weather Emerging as the Next Risk
Key Market Developments While tariffs were not addressed directly in the State of the Union, trade policy remains steady. Reports during today’s session confirmed that U.S. tariffs on China will remain in the 35 percent–50 percent range, signaling limited escalation ahead of upcomin...
Policy Roundup
Fuzzy Math Among President Trump’s various assertions in last night’s State of the Union address was that tariffs would someday replace the income tax, but that is a mathematical impossibility. The value of imported goods is around $3 trillion, and the income tax generates nearly $5...