Summary of Futures
Dec 26 Corn closed at $5.3325/bushel, up $0.03 from yesterday's close. Dec 26 Wheat closed at $7.22/bushel, down $0.0325 from yesterday's close. Nov 26 Soybeans closed at $13.0425/bushel, up $0.0775 from yesterday's close. Dec 26 Soymeal closed at $356.2/short ton, up $3.4 fro...
Market Commentary: Harvest Off to a Fast Start, Inflation Concerns Intensify
What You Need to Know Today: Oil prices moved higher early Monday before giving back some of their gains after drone attacks forced the shutdown of Saudi Arabia’s East-West Pipeline, a critical route for bypassing constrained shipping through the Strait of Hormuz. The disruption puts rou...
Cow-Calf Profit Expectations Weaken Further
Key Takeaways: Expected returns to production for U.S. cow-calf producers have shifted lower from prior forecasts as cattle values fall and feed costs rise. Producer revenues are forecast 1 percent below our August outlook and will be 1.2 percent below 2025 levels. Feed costs have lessen...
Time Running Out: Fly In for the Farm Bill, North American Trade
The Senate will reconvene today after a late August recess and will adjourn in early October, in about 3 to 4 weeks. The farm bill will move front and center on the agenda. A major fly-in is scheduled for today and Tuesday, with the goal of hitting all Senate offices. Groups participating in th...
CFTC COT Report Analysis
Soybeans, soymeal, and corn all reached a record net-long through Tuesday’s reporting deadline, although overall fund positioning across ag was mixed. Managed money traders bought 24,000 contracts across the ag markets through last Tuesday’s data reporting deadline, pushing the tota...
WASDE Soybeans - September 2026
USDA’s September WASDE outlook for 2026/27 U.S. soybeans is for reduced ending stocks by 10 million bushels to 310 million. The U.S. season-average soybean price is forecast at $12.00 per bushel, up $0.60 from last month: Soybean meal price is increased $30 to $340 per short ton, and the...
WASDE Corn - September 2026
USDA’s September WASDE outlook for 2026/27 U.S. corn is for reduced ending stocks by 86 million bushels to 1.567 billion. The season-average U.S. farm price is increased $0.30 per bushel to $4.80. Foreign corn ending stocks are reduced, mostly reflecting a reduction for India, that was pa...
WASDE Wheat - September 2026
USDA’s September WASDE outlook for 2026/27 is unchanged for total U.S. wheat, but there were a few adjustments in wheat types. The season-average U.S. farm price is increased $0.20 per bushel to $6.40. This month’s global wheat outlook is for ending stocks to increase 3.0 million me...
Summary of Futures
Dec 26 Corn closed at $5.3025/bushel, down $0.035 from yesterday's close. Dec 26 Wheat closed at $7.2525/bushel, down $0.16 from yesterday's close. Nov 26 Soybeans closed at $12.965/bushel, down $0.3575 from yesterday's close. Dec 26 Soymeal closed at $352.8/short ton, down $4...
Market Commentary: September WASDE Leaves Grain Outlook Largely Intact
What You Need to Know Today: Corn and soybean yields in the September WASDE report were close to pre-report expectations. The corn yield came in at 178.5 bushels per acre, compared with an average analyst estimate of 178.1, while the soybean yield was 52.8 bushels per acre, slightly abov...
The Risk Isn’t Over for Corn and Soy Yields
Commodity markets – being composed primarily of human beings – reflect the impatience and forever forward-looking nature of humans. In the present case, this means that while the September WASDE offered some much-needed and much-desired updates, markets are now focused on that etern...
CPI, PPI, Jobs Report Adding Up to Rate Hike from FOMC
The Bureau of Labor Statistics (BLS) reported this morning that August’s rate of inflation was 0.4 percent, holding steady at 3.4 percent for the year. That matched analysts’ pre-report expectations and was even with July’s rate of 3.4 percent. For the year, food was up 2.7 pe...
Summary of Futures
Dec 26 Corn closed at $5.3325/bushel, up $0.03 from yesterday's close. Dec 26 Wheat closed at $7.22/bushel, down $0.0325 from yesterday's close. Nov 26 Soybeans closed at $13.0425/bushel, up $0.0775 from yesterday's close. Dec 26 Soymeal closed at $356.2/short ton, up $3.4 fro...
Market Commentary: Harvest Off to a Fast Start, Inflation Concerns Intensify
What You Need to Know Today: Oil prices moved higher early Monday before giving back some of their gains after drone attacks forced the shutdown of Saudi Arabia’s East-West Pipeline, a critical route for bypassing constrained shipping through the Strait of Hormuz. The disruption puts rou...
Cow-Calf Profit Expectations Weaken Further
Key Takeaways: Expected returns to production for U.S. cow-calf producers have shifted lower from prior forecasts as cattle values fall and feed costs rise. Producer revenues are forecast 1 percent below our August outlook and will be 1.2 percent below 2025 levels. Feed costs have lessen...
Time Running Out: Fly In for the Farm Bill, North American Trade
The Senate will reconvene today after a late August recess and will adjourn in early October, in about 3 to 4 weeks. The farm bill will move front and center on the agenda. A major fly-in is scheduled for today and Tuesday, with the goal of hitting all Senate offices. Groups participating in th...
CFTC COT Report Analysis
Soybeans, soymeal, and corn all reached a record net-long through Tuesday’s reporting deadline, although overall fund positioning across ag was mixed. Managed money traders bought 24,000 contracts across the ag markets through last Tuesday’s data reporting deadline, pushing the tota...
WASDE Soybeans - September 2026
USDA’s September WASDE outlook for 2026/27 U.S. soybeans is for reduced ending stocks by 10 million bushels to 310 million. The U.S. season-average soybean price is forecast at $12.00 per bushel, up $0.60 from last month: Soybean meal price is increased $30 to $340 per short ton, and the...
WASDE Corn - September 2026
USDA’s September WASDE outlook for 2026/27 U.S. corn is for reduced ending stocks by 86 million bushels to 1.567 billion. The season-average U.S. farm price is increased $0.30 per bushel to $4.80. Foreign corn ending stocks are reduced, mostly reflecting a reduction for India, that was pa...
WASDE Wheat - September 2026
USDA’s September WASDE outlook for 2026/27 is unchanged for total U.S. wheat, but there were a few adjustments in wheat types. The season-average U.S. farm price is increased $0.20 per bushel to $6.40. This month’s global wheat outlook is for ending stocks to increase 3.0 million me...
Summary of Futures
Dec 26 Corn closed at $5.3025/bushel, down $0.035 from yesterday's close. Dec 26 Wheat closed at $7.2525/bushel, down $0.16 from yesterday's close. Nov 26 Soybeans closed at $12.965/bushel, down $0.3575 from yesterday's close. Dec 26 Soymeal closed at $352.8/short ton, down $4...
Market Commentary: September WASDE Leaves Grain Outlook Largely Intact
What You Need to Know Today: Corn and soybean yields in the September WASDE report were close to pre-report expectations. The corn yield came in at 178.5 bushels per acre, compared with an average analyst estimate of 178.1, while the soybean yield was 52.8 bushels per acre, slightly abov...
The Risk Isn’t Over for Corn and Soy Yields
Commodity markets – being composed primarily of human beings – reflect the impatience and forever forward-looking nature of humans. In the present case, this means that while the September WASDE offered some much-needed and much-desired updates, markets are now focused on that etern...
CPI, PPI, Jobs Report Adding Up to Rate Hike from FOMC
The Bureau of Labor Statistics (BLS) reported this morning that August’s rate of inflation was 0.4 percent, holding steady at 3.4 percent for the year. That matched analysts’ pre-report expectations and was even with July’s rate of 3.4 percent. For the year, food was up 2.7 pe...