Recent Wheat Analysis
Market Commentary: Cattle Score New Highs; Wheat Hits New Lows; More Trump Uncertainty
The CBOT was mixed again on Wednesday with grains seeing pressure from fund selling and a lack of significant news while soybeans and livestock traded higher. There are no serious weather issues in the U.S., South America, or Europe right now, which is taking ammunition away from grain bulls. T...
Summary of Futures
May 25 Corn closed at $4.72/bushel, down $0.0375 from yesterday's close. Jul 25 Wheat closed at $5.435/bushel, down $0.0675 from yesterday's close. May 25 Soybeans closed at $10.4025/bushel, up $0.0525 from yesterday's close. Jul 25 Soymeal closed at $298.6/short ton, down $0...
Black Sea Regional Analysis
Russian Grain Markets: 14 – 18 April 2025 Crop Outlook 2025 Russian Prime Minister Mikhail Mishustin announced that around 90 percent of all winter crops are in good and satisfactory condition. According to Mr. Mishustin, winter crops cover around 20 million ha (Mha). He is expecting that...
Market Commentary: CBOT Ends Mixed on Planting Pace, Weather, South American Outlook
The CBOT ended mixed on Tuesday as traders parsed through a slew of different data points. Perhaps the most influential news for the day was private crop analysts’ upward revisions to the Brazilian and Argentine corn crops, which combined with a strong start to planting the U.S. 2025 crop...
Summary of Futures
May 25 Corn closed at $4.7575/bushel, down $0.06 from yesterday's close. Jul 25 Wheat closed at $5.5025/bushel, down $0.02 from yesterday's close. May 25 Soybeans closed at $10.35/bushel, up $0.055 from yesterday's close. Jul 25 Soymeal closed at $299.5/short ton, down $0.8 fr...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Iraq has confirmed that it will not need to import as much wheat in 2024/25 as it expects to see purchases of local wheat at 4.5 MMT while current stocks of wheat are at 2.8 MMT. Overall wheat production could reach 6.0 MMT. Press...
Market Commentary: Ags Sink on Risk-Off Day Despite Weaker Dollar
The CBOT was higher overnight as the U.S. dollar fell to a three-year low, but the day session saw the major ag market slip lower and end in the red with pressure from macroeconomic markets increasing. In addition to sparking trade wars with nearly every major U.S. trading partner, U.S. Preside...
Summary of Futures
May 25 Corn closed at $4.8175/bushel, down $0.005 from yesterday's close. May 25 Wheat closed at $5.385/bushel, down $0.1025 from yesterday's close. May 25 Soybeans closed at $10.295/bushel, down $0.07 from yesterday's close. May 25 Soymeal closed at $292.9/short ton, down $2...
Mercosur Regional Analysis
Argentina Macroeconomic Updates Argentina saw a shortened trading week, with no markets last Thursday and Friday. It was also the first week of trading under the new exchange rate regulations, so it took the markets a few days to adjust. Regarding the official exchange rate, it opened on Monday...
CFTC COT Report Analysis
Friday’s CFTC report was consistent with expectations in that it showed managed money traders becoming dedicated net buyers across nearly every major ag market, with the notable exception of cattle futures. The buying was most notable in soybeans where, despite the trade war, funds flippe...
Export Sales
Export Sales and Shipments for April 4-10, 2025. Wheat: Net sales of 76,500 metric tons (MT) for 2024/2025 were down 29 percent from the previous week, but up 2 percent from the prior 4-week average. Export shipments of 483,500 MT were up 43 percent from the previous week and 11 percent f...
Summary of Futures
May 25 Corn closed at $4.8225/bushel, down $0.02 from yesterday's close. May 25 Wheat closed at $5.4875/bushel, up $0.01 from yesterday's close. May 25 Soybeans closed at $10.365/bushel, down $0.0225 from yesterday's close. May 25 Soymeal closed at $295.6/short ton, down $1.1...
Market Commentary: Cattle Score New Highs; Wheat Hits New Lows; More Trump Uncertainty
The CBOT was mixed again on Wednesday with grains seeing pressure from fund selling and a lack of significant news while soybeans and livestock traded higher. There are no serious weather issues in the U.S., South America, or Europe right now, which is taking ammunition away from grain bulls. T...
Summary of Futures
May 25 Corn closed at $4.72/bushel, down $0.0375 from yesterday's close. Jul 25 Wheat closed at $5.435/bushel, down $0.0675 from yesterday's close. May 25 Soybeans closed at $10.4025/bushel, up $0.0525 from yesterday's close. Jul 25 Soymeal closed at $298.6/short ton, down $0...
Black Sea Regional Analysis
Russian Grain Markets: 14 – 18 April 2025 Crop Outlook 2025 Russian Prime Minister Mikhail Mishustin announced that around 90 percent of all winter crops are in good and satisfactory condition. According to Mr. Mishustin, winter crops cover around 20 million ha (Mha). He is expecting that...
Market Commentary: CBOT Ends Mixed on Planting Pace, Weather, South American Outlook
The CBOT ended mixed on Tuesday as traders parsed through a slew of different data points. Perhaps the most influential news for the day was private crop analysts’ upward revisions to the Brazilian and Argentine corn crops, which combined with a strong start to planting the U.S. 2025 crop...
Summary of Futures
May 25 Corn closed at $4.7575/bushel, down $0.06 from yesterday's close. Jul 25 Wheat closed at $5.5025/bushel, down $0.02 from yesterday's close. May 25 Soybeans closed at $10.35/bushel, up $0.055 from yesterday's close. Jul 25 Soymeal closed at $299.5/short ton, down $0.8 fr...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Iraq has confirmed that it will not need to import as much wheat in 2024/25 as it expects to see purchases of local wheat at 4.5 MMT while current stocks of wheat are at 2.8 MMT. Overall wheat production could reach 6.0 MMT. Press...
Market Commentary: Ags Sink on Risk-Off Day Despite Weaker Dollar
The CBOT was higher overnight as the U.S. dollar fell to a three-year low, but the day session saw the major ag market slip lower and end in the red with pressure from macroeconomic markets increasing. In addition to sparking trade wars with nearly every major U.S. trading partner, U.S. Preside...
Summary of Futures
May 25 Corn closed at $4.8175/bushel, down $0.005 from yesterday's close. May 25 Wheat closed at $5.385/bushel, down $0.1025 from yesterday's close. May 25 Soybeans closed at $10.295/bushel, down $0.07 from yesterday's close. May 25 Soymeal closed at $292.9/short ton, down $2...
Mercosur Regional Analysis
Argentina Macroeconomic Updates Argentina saw a shortened trading week, with no markets last Thursday and Friday. It was also the first week of trading under the new exchange rate regulations, so it took the markets a few days to adjust. Regarding the official exchange rate, it opened on Monday...
CFTC COT Report Analysis
Friday’s CFTC report was consistent with expectations in that it showed managed money traders becoming dedicated net buyers across nearly every major ag market, with the notable exception of cattle futures. The buying was most notable in soybeans where, despite the trade war, funds flippe...
Export Sales
Export Sales and Shipments for April 4-10, 2025. Wheat: Net sales of 76,500 metric tons (MT) for 2024/2025 were down 29 percent from the previous week, but up 2 percent from the prior 4-week average. Export shipments of 483,500 MT were up 43 percent from the previous week and 11 percent f...
Summary of Futures
May 25 Corn closed at $4.8225/bushel, down $0.02 from yesterday's close. May 25 Wheat closed at $5.4875/bushel, up $0.01 from yesterday's close. May 25 Soybeans closed at $10.365/bushel, down $0.0225 from yesterday's close. May 25 Soymeal closed at $295.6/short ton, down $1.1...