Recent Wheat Analysis
Summary of Futures
Dec 25 Corn closed at $3.9725/bushel, up $0.0275 from yesterday's close. Sep 25 Wheat closed at $5.0725/bushel, up $0.0225 from yesterday's close. Nov 25 Soybeans closed at $10.4425/bushel, up $0.115 from yesterday's close. Dec 25 Soymeal closed at $297.3/short ton, up $5.4 fr...
Black Sea Regional Analysis
Russian Grain Markets: 4 – 8 August 2025 The speed of the harvesting campaign was the key price driver. Improved harvesting pace in the Centre and Black Soil regions made most of the grain prices plummet except for the best milling quality wheat. This is understandable as excessive rains...
Market Commentary: King Corn Flexes Dominance; Soybeans Rise on Acreage Data; Cattle Surge
The August WASDE is almost always a market-moving event for at least one commodity, and Tuesday’s report was no different. Tuesday’s trade started off with some trepidation after China increased the import duty on Canadian rapeseed to 75.8 percent, which caused canola futures to cra...
WASDE Wheat - August 2025
USDA increased their estimate for U.S. wheat exports by 25 million bushels to 875 million on the continued strong pace of sales and shipments, particularly for Hard Red Winter. Projected ending stocks are reduced by 21 million bushels to 869 million. Nevertheless, the 2025/26 season-average far...
Summary of Futures
Dec 25 Corn closed at $3.945/bushel, down $0.1325 from yesterday's close. Sep 25 Wheat closed at $5.05/bushel, down $0.1 from yesterday's close. Nov 25 Soybeans closed at $10.3275/bushel, up $0.215 from yesterday's close. Dec 25 Soymeal closed at $291.9/short ton, up $1.7 from...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Iraq’s Agriculture Ministry announced that the planting of wheat and barley will be “severely reduced” due to low water reserves. Barley planting is going to be almost totally stopped. Vegetable growing and drip-...
Market Commentary: Ephemeral Trump Bump
The U.S. – China tariff war truce technically expires tomorrow and in negotiating its extension, President Trump decided to signal his hope that Beijing would purchase some U.S. soybeans. There is no indication that this will be the end result, but in futures it is buy the rumor. Tomorrow...
Summary of Futures
Dec 25 Corn closed at $4.0775/bushel, up $0.0225 from yesterday's close. Sep 25 Wheat closed at $5.15/bushel, up $0.005 from yesterday's close. Nov 25 Soybeans closed at $10.1125/bushel, up $0.2375 from yesterday's close. Dec 25 Soymeal closed at $290.2/short ton, up $5 from y...
Mercosur Regional Analysis
Wheat and Boosting Production Margins With 6.7 million hectares sown, the 2025/2026 season wheat crop has been planted and it marks one of Argentina’s most promising crops on record. Although some fields were waterlogged, more than 80 percent of the area had water conditions ranging from...
Market Commentary: Momentum is Stalled Pending WASDE
After yesterday’s baseless bounce, today’s trading involved some retracement on a lack of fresh inputs. There was yet another flash corn export sale this morning, but higher volume sent corn futures lower. It was an unforgiving day, and the market is in a holding pattern until USDA&...
Summary of Futures
Dec 25 Corn closed at $4.055/bushel, down $0.015 from yesterday's close. Sep 25 Wheat closed at $5.145/bushel, down $0.0375 from yesterday's close. Nov 25 Soybeans closed at $9.875/bushel, down $0.0625 from yesterday's close. Dec 25 Soymeal closed at $285.2/short ton, up $0 fr...
Market Commentary: A Bounce but Fundamentals Unchanged
Unlike in previous days, commodity futures opened higher today and sustained upward momentum. There was some short covering and some correction from over-sold but it is unlikely the market has found a seasonal bottom. There is good demand, but there is also the potential for record crops. Next...
Summary of Futures
Dec 25 Corn closed at $3.9725/bushel, up $0.0275 from yesterday's close. Sep 25 Wheat closed at $5.0725/bushel, up $0.0225 from yesterday's close. Nov 25 Soybeans closed at $10.4425/bushel, up $0.115 from yesterday's close. Dec 25 Soymeal closed at $297.3/short ton, up $5.4 fr...
Black Sea Regional Analysis
Russian Grain Markets: 4 – 8 August 2025 The speed of the harvesting campaign was the key price driver. Improved harvesting pace in the Centre and Black Soil regions made most of the grain prices plummet except for the best milling quality wheat. This is understandable as excessive rains...
Market Commentary: King Corn Flexes Dominance; Soybeans Rise on Acreage Data; Cattle Surge
The August WASDE is almost always a market-moving event for at least one commodity, and Tuesday’s report was no different. Tuesday’s trade started off with some trepidation after China increased the import duty on Canadian rapeseed to 75.8 percent, which caused canola futures to cra...
WASDE Wheat - August 2025
USDA increased their estimate for U.S. wheat exports by 25 million bushels to 875 million on the continued strong pace of sales and shipments, particularly for Hard Red Winter. Projected ending stocks are reduced by 21 million bushels to 869 million. Nevertheless, the 2025/26 season-average far...
Summary of Futures
Dec 25 Corn closed at $3.945/bushel, down $0.1325 from yesterday's close. Sep 25 Wheat closed at $5.05/bushel, down $0.1 from yesterday's close. Nov 25 Soybeans closed at $10.3275/bushel, up $0.215 from yesterday's close. Dec 25 Soymeal closed at $291.9/short ton, up $1.7 from...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Iraq’s Agriculture Ministry announced that the planting of wheat and barley will be “severely reduced” due to low water reserves. Barley planting is going to be almost totally stopped. Vegetable growing and drip-...
Market Commentary: Ephemeral Trump Bump
The U.S. – China tariff war truce technically expires tomorrow and in negotiating its extension, President Trump decided to signal his hope that Beijing would purchase some U.S. soybeans. There is no indication that this will be the end result, but in futures it is buy the rumor. Tomorrow...
Summary of Futures
Dec 25 Corn closed at $4.0775/bushel, up $0.0225 from yesterday's close. Sep 25 Wheat closed at $5.15/bushel, up $0.005 from yesterday's close. Nov 25 Soybeans closed at $10.1125/bushel, up $0.2375 from yesterday's close. Dec 25 Soymeal closed at $290.2/short ton, up $5 from y...
Mercosur Regional Analysis
Wheat and Boosting Production Margins With 6.7 million hectares sown, the 2025/2026 season wheat crop has been planted and it marks one of Argentina’s most promising crops on record. Although some fields were waterlogged, more than 80 percent of the area had water conditions ranging from...
Market Commentary: Momentum is Stalled Pending WASDE
After yesterday’s baseless bounce, today’s trading involved some retracement on a lack of fresh inputs. There was yet another flash corn export sale this morning, but higher volume sent corn futures lower. It was an unforgiving day, and the market is in a holding pattern until USDA&...
Summary of Futures
Dec 25 Corn closed at $4.055/bushel, down $0.015 from yesterday's close. Sep 25 Wheat closed at $5.145/bushel, down $0.0375 from yesterday's close. Nov 25 Soybeans closed at $9.875/bushel, down $0.0625 from yesterday's close. Dec 25 Soymeal closed at $285.2/short ton, up $0 fr...
Market Commentary: A Bounce but Fundamentals Unchanged
Unlike in previous days, commodity futures opened higher today and sustained upward momentum. There was some short covering and some correction from over-sold but it is unlikely the market has found a seasonal bottom. There is good demand, but there is also the potential for record crops. Next...