Australia
Iran War Impacts; Trade Agreements
Iran War Impacts Confidence in the economy is often tied to partisan politics, with Democrats seeing green when they control the White House, and Republicans ready to invest when their party is in charge. War always creates uncertainty, but uncertainty does not determine the market. A famous gr...
War in Iran Taking Toll on Meat Exports Globally and U.S. Agriculture
The war in Iran is taking a toll on meat exports as well as fuel and fertilizer. As noted in a letter to the Administration, “Maritime freight disruptions from the ongoing conflict in Iran pose significant consequences to food security here at home and around the world.” This comes...
WASDE Wheat - Mar 2026
USDA’s outlook for 2025/26 U.S. wheat supply and use categories are unchanged from last month. Global supplies increased modestly by 0.2 million tons to 1,101.8 million and global ending stocks remain at a 5-year high. The result is that the average U.S. farm price is adjusted up modestly...
Iran War Impacts; Trade Agreements
Iran War Impacts Confidence in the economy is often tied to partisan politics, with Democrats seeing green when they control the White House, and Republicans ready to invest when their party is in charge. War always creates uncertainty, but uncertainty does not determine the market. A famous gr...
War in Iran Taking Toll on Meat Exports Globally and U.S. Agriculture
The war in Iran is taking a toll on meat exports as well as fuel and fertilizer. As noted in a letter to the Administration, “Maritime freight disruptions from the ongoing conflict in Iran pose significant consequences to food security here at home and around the world.” This comes...
WASDE Wheat - Mar 2026
USDA’s outlook for 2025/26 U.S. wheat supply and use categories are unchanged from last month. Global supplies increased modestly by 0.2 million tons to 1,101.8 million and global ending stocks remain at a 5-year high. The result is that the average U.S. farm price is adjusted up modestly...
Iran War Hits Fertilizer Supply and Disrupts SMP Trade
Today the war in Iran has hit its 10th day. Iranian forces have sustained their retaliatory strikes on US military assets and other key infrastructure in Kuwait, Qatar, Saudi Arabia, and the UAE. The latest Iranian attacks on Bahrain have damaged a water desalination plant. Further, more than a...
Asia
FOB Prices and Freight Rates App (Updated 3 April)
WPI Grain Prices and Freight Rate App Note: you can also visit the app directly by clicking here. Supplemental Information The section below offers a concise view of the options available in the current version of the WPI FOB Price and Freight Rate app, along with a short “How To”...
Transportation Perspectives - 2 April
WPI has officially launched Transportation Perspectives as a standalone weekly report separate from our Ag Perspectives articles and analysis. Current Ag Perspectives subscribers will have gratis access to the report through 16 April 2026. Please email us or subscribe online after this date to...
Transportation Perspectives - 27 March
President Trump’s announcement on Monday this week that the U.S. would postpone any attacks on Iranian energy facilities for five days increased hopes that a peaceful and quick resolution can be found to the war. Subsequent conflicting messaging from both sides has undermined these hopes,...
FOB Prices and Freight Rates App (Updated 3 April)
WPI Grain Prices and Freight Rate App Note: you can also visit the app directly by clicking here. Supplemental Information The section below offers a concise view of the options available in the current version of the WPI FOB Price and Freight Rate app, along with a short “How To”...
Transportation Perspectives - 2 April
WPI has officially launched Transportation Perspectives as a standalone weekly report separate from our Ag Perspectives articles and analysis. Current Ag Perspectives subscribers will have gratis access to the report through 16 April 2026. Please email us or subscribe online after this date to...
Transportation Perspectives - 27 March
President Trump’s announcement on Monday this week that the U.S. would postpone any attacks on Iranian energy facilities for five days increased hopes that a peaceful and quick resolution can be found to the war. Subsequent conflicting messaging from both sides has undermined these hopes,...
Transportation Perspectives - 26 March
President Trump’s announcement on Monday this week that the U.S. would postpone any attacks on Iranian energy facilities for five days increased hopes that a peaceful and quick resolution can be found to the war. Subsequent conflicting messaging from both sides has undermined these hopes,...
Black Sea
FOB Prices and Freight Rates App (Updated 3 April)
WPI Grain Prices and Freight Rate App Note: you can also visit the app directly by clicking here. Supplemental Information The section below offers a concise view of the options available in the current version of the WPI FOB Price and Freight Rate app, along with a short “How To”...
Black Sea Regional Analysis
Russian Grain Markets: 23–27 March 2026 The Russian grains market was stable to slightly firmer during the week. Export activity and port trading remained slow, while the domestic market and inland trade reflected firmer farmer price expectations. Even so, gains were limited, and the broa...
Black Sea Regional Analysis
Russian Grain Markets: 16–20 March 2026 During the second week of February, the Russian grains market showed a sharp divergence between domestic and export trends. The domestic market was slightly bullish but overall remained stable. In contrast, export market trading in RUB was mostly be...
FOB Prices and Freight Rates App (Updated 3 April)
WPI Grain Prices and Freight Rate App Note: you can also visit the app directly by clicking here. Supplemental Information The section below offers a concise view of the options available in the current version of the WPI FOB Price and Freight Rate app, along with a short “How To”...
Black Sea Regional Analysis
Russian Grain Markets: 23–27 March 2026 The Russian grains market was stable to slightly firmer during the week. Export activity and port trading remained slow, while the domestic market and inland trade reflected firmer farmer price expectations. Even so, gains were limited, and the broa...
Black Sea Regional Analysis
Russian Grain Markets: 16–20 March 2026 During the second week of February, the Russian grains market showed a sharp divergence between domestic and export trends. The domestic market was slightly bullish but overall remained stable. In contrast, export market trading in RUB was mostly be...
Transportation Perspectives - 19 March
As you probably guessed, the ongoing conflict in the Middle East continues to drive market sentiment for energy markets and tanker vessel rates. While there have been several developments in the region this week, the big picture factors are the same: the Strait of Hormuz is all but sealed to ve...
China
China Market Analysis
SPS Barriers India’s rice exports to China have been accelerating, but Beijing recently rejected three shipments of non-Basmati rice, citing genetically modified content. The technical rejection is notable because China’s Certification and Inspection Group had already pre-cleared th...
Transportation Perspectives - 26 March
President Trump’s announcement on Monday this week that the U.S. would postpone any attacks on Iranian energy facilities for five days increased hopes that a peaceful and quick resolution can be found to the war. Subsequent conflicting messaging from both sides has undermined these hopes,...
Iran War Impacts; Trade Agreements
Iran War Impacts Confidence in the economy is often tied to partisan politics, with Democrats seeing green when they control the White House, and Republicans ready to invest when their party is in charge. War always creates uncertainty, but uncertainty does not determine the market. A famous gr...
China Market Analysis
SPS Barriers India’s rice exports to China have been accelerating, but Beijing recently rejected three shipments of non-Basmati rice, citing genetically modified content. The technical rejection is notable because China’s Certification and Inspection Group had already pre-cleared th...
Transportation Perspectives - 26 March
President Trump’s announcement on Monday this week that the U.S. would postpone any attacks on Iranian energy facilities for five days increased hopes that a peaceful and quick resolution can be found to the war. Subsequent conflicting messaging from both sides has undermined these hopes,...
Iran War Impacts; Trade Agreements
Iran War Impacts Confidence in the economy is often tied to partisan politics, with Democrats seeing green when they control the White House, and Republicans ready to invest when their party is in charge. War always creates uncertainty, but uncertainty does not determine the market. A famous gr...
China Market Analysis
Balanced Trade Bilateral trade in both directions between the U.S. and China has slowed, but Chinese Premier Li Qiang told last week’s meeting of the China Development Forum 2026 that Beijing pledges balanced trade and greater openness. His country is seeking to reassure foreign investors...
Europe
FOB Prices and Freight Rates App (Updated 3 April)
WPI Grain Prices and Freight Rate App Note: you can also visit the app directly by clicking here. Supplemental Information The section below offers a concise view of the options available in the current version of the WPI FOB Price and Freight Rate app, along with a short “How To”...
Transportation Perspectives - 2 April
WPI has officially launched Transportation Perspectives as a standalone weekly report separate from our Ag Perspectives articles and analysis. Current Ag Perspectives subscribers will have gratis access to the report through 16 April 2026. Please email us or subscribe online after this date to...
Forlorn or Failure; Fertile or Futile; AI Impacts; Dirty Dozen Disinformation
Forlorn or Failure The spin from the WTO on the organization’s recent MC14 meetings was that a lot of decisions were adopted, progress was made, and while the event “ran out of time,” new commitments on outstanding issues can still be made in Geneva. Director-General Ngozi Oko...
FOB Prices and Freight Rates App (Updated 3 April)
WPI Grain Prices and Freight Rate App Note: you can also visit the app directly by clicking here. Supplemental Information The section below offers a concise view of the options available in the current version of the WPI FOB Price and Freight Rate app, along with a short “How To”...
Transportation Perspectives - 2 April
WPI has officially launched Transportation Perspectives as a standalone weekly report separate from our Ag Perspectives articles and analysis. Current Ag Perspectives subscribers will have gratis access to the report through 16 April 2026. Please email us or subscribe online after this date to...
Forlorn or Failure; Fertile or Futile; AI Impacts; Dirty Dozen Disinformation
Forlorn or Failure The spin from the WTO on the organization’s recent MC14 meetings was that a lot of decisions were adopted, progress was made, and while the event “ran out of time,” new commitments on outstanding issues can still be made in Geneva. Director-General Ngozi Oko...
Transportation Perspectives - 27 March
President Trump’s announcement on Monday this week that the U.S. would postpone any attacks on Iranian energy facilities for five days increased hopes that a peaceful and quick resolution can be found to the war. Subsequent conflicting messaging from both sides has undermined these hopes,...
India
Iran War Impacts; Trade Agreements
Iran War Impacts Confidence in the economy is often tied to partisan politics, with Democrats seeing green when they control the White House, and Republicans ready to invest when their party is in charge. War always creates uncertainty, but uncertainty does not determine the market. A famous gr...
Great Timing; Farm Skeptics; War’s Impact; Thursday’s Tumults
Great Timing The workers’ union at the JBS meatpacking plant in Greeley, Colorado, is on strike. The union is demanding more pay for its members, of course, and they want the company to pay for gloves. Given the shortage of cattle, there is overcapacity in cattle slaughter, and JBS has be...
WASDE Soybeans - Mar 2026
USDA’s outlook for 2025/26 U.S. soybeans had increased imports and crush, but ending stocks remained unchanged from last month. The average annual soybean price is projected unchanged at $10.20 per bushel. The soybean meal price is increased by $5 per short ton to $300. The soybean...
Iran War Impacts; Trade Agreements
Iran War Impacts Confidence in the economy is often tied to partisan politics, with Democrats seeing green when they control the White House, and Republicans ready to invest when their party is in charge. War always creates uncertainty, but uncertainty does not determine the market. A famous gr...
Great Timing; Farm Skeptics; War’s Impact; Thursday’s Tumults
Great Timing The workers’ union at the JBS meatpacking plant in Greeley, Colorado, is on strike. The union is demanding more pay for its members, of course, and they want the company to pay for gloves. Given the shortage of cattle, there is overcapacity in cattle slaughter, and JBS has be...
WASDE Soybeans - Mar 2026
USDA’s outlook for 2025/26 U.S. soybeans had increased imports and crush, but ending stocks remained unchanged from last month. The average annual soybean price is projected unchanged at $10.20 per bushel. The soybean meal price is increased by $5 per short ton to $300. The soybean...
Economic Outlook for 2026
The January jobs report surprised to the upside, coming in at 172,000 new jobs, well above the consensus expectation of 68,000. However, the February report showed jobs falling by 86,000, far off the consensus expectation of a gain of 60,000. This loss was driven by education, leisure and hospi...
Middle East & Africa
FOB Prices and Freight Rates App (Updated 3 April)
WPI Grain Prices and Freight Rate App Note: you can also visit the app directly by clicking here. Supplemental Information The section below offers a concise view of the options available in the current version of the WPI FOB Price and Freight Rate app, along with a short “How To”...
Transportation Perspectives - 2 April
WPI has officially launched Transportation Perspectives as a standalone weekly report separate from our Ag Perspectives articles and analysis. Current Ag Perspectives subscribers will have gratis access to the report through 16 April 2026. Please email us or subscribe online after this date to...
Summary of Futures
May 26 Corn closed at $4.5225/bushel, down $0.02 from yesterday's close. May 26 Wheat closed at $5.9825/bushel, up $0.0075 from yesterday's close. May 26 Soybeans closed at $11.635/bushel, down $0.05 from yesterday's close. May 26 Soymeal closed at $315.2/short ton, down $3 fr...
FOB Prices and Freight Rates App (Updated 3 April)
WPI Grain Prices and Freight Rate App Note: you can also visit the app directly by clicking here. Supplemental Information The section below offers a concise view of the options available in the current version of the WPI FOB Price and Freight Rate app, along with a short “How To”...
Transportation Perspectives - 2 April
WPI has officially launched Transportation Perspectives as a standalone weekly report separate from our Ag Perspectives articles and analysis. Current Ag Perspectives subscribers will have gratis access to the report through 16 April 2026. Please email us or subscribe online after this date to...
Summary of Futures
May 26 Corn closed at $4.5225/bushel, down $0.02 from yesterday's close. May 26 Wheat closed at $5.9825/bushel, up $0.0075 from yesterday's close. May 26 Soybeans closed at $11.635/bushel, down $0.05 from yesterday's close. May 26 Soymeal closed at $315.2/short ton, down $3 fr...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Iraq’s 2026 wheat imports are seen increasing by about 8.3 percent to 2.4 million MT, according to the FAO, as a result of the 16 percent lower 2025 wheat crop — down to 4.4 MMT in 2025 from 5.2 MMT in 2024. Planting f...
North America
Market Commentary: War and Easter Exit Strategy
There were a lot of moving parts on the last trading day of the holiday-shortened week, but liquidation and profit-taking may have been the strongest. A prolonged war and higher energy prices will impact consumption and inflation, while supporting biofuels. Storm systems may reduce some of the...
Good Friday
Tomorrow, 2 April, is a holiday for the CBOT/CME markets in observance of Good Friday. Please note that our office will also be closed. The next Ag Perspectives will be published Monday, 6 April. ...
Poultry Production Rebounds on Heavier Weights
Through the week ending 21 March, U.S. broiler production remains well above year-ago levels, with total headcount surpassing 2.04 billion, a 3.63 percent increase compared to 2025. While overall supply levels continue to expand, the distribution across weight classes further highlights a prono...
Market Commentary: War and Easter Exit Strategy
There were a lot of moving parts on the last trading day of the holiday-shortened week, but liquidation and profit-taking may have been the strongest. A prolonged war and higher energy prices will impact consumption and inflation, while supporting biofuels. Storm systems may reduce some of the...
Good Friday
Tomorrow, 2 April, is a holiday for the CBOT/CME markets in observance of Good Friday. Please note that our office will also be closed. The next Ag Perspectives will be published Monday, 6 April. ...
Poultry Production Rebounds on Heavier Weights
Through the week ending 21 March, U.S. broiler production remains well above year-ago levels, with total headcount surpassing 2.04 billion, a 3.63 percent increase compared to 2025. While overall supply levels continue to expand, the distribution across weight classes further highlights a prono...
FOB Prices and Freight Rates App (Updated 3 April)
WPI Grain Prices and Freight Rate App Note: you can also visit the app directly by clicking here. Supplemental Information The section below offers a concise view of the options available in the current version of the WPI FOB Price and Freight Rate app, along with a short “How To”...
South America
FOB Prices and Freight Rates App (Updated 3 April)
WPI Grain Prices and Freight Rate App Note: you can also visit the app directly by clicking here. Supplemental Information The section below offers a concise view of the options available in the current version of the WPI FOB Price and Freight Rate app, along with a short “How To”...
Prospective Planting and Quarterly Stocks Reports Preview
The 2026 USDA Prospective Plantings Report is scheduled for release tomorrow. The report surveys farmer planting intentions for major crops, including corn, soybeans, and wheat. It also asks about 2025 planted and prevent-plant acres. This report gives the first real snapshot of what planted ac...
Mercosur Regional Analysis
Argentina Corn Argentina’s corn harvest continues to advance at the national level. After a weekly gain of 2.2 percentage points, harvest has reached 15.2 percent of the suitable area. Although recent rainfall has partially limited fieldwork, it has not had a significant impact on overall...
FOB Prices and Freight Rates App (Updated 3 April)
WPI Grain Prices and Freight Rate App Note: you can also visit the app directly by clicking here. Supplemental Information The section below offers a concise view of the options available in the current version of the WPI FOB Price and Freight Rate app, along with a short “How To”...
Prospective Planting and Quarterly Stocks Reports Preview
The 2026 USDA Prospective Plantings Report is scheduled for release tomorrow. The report surveys farmer planting intentions for major crops, including corn, soybeans, and wheat. It also asks about 2025 planted and prevent-plant acres. This report gives the first real snapshot of what planted ac...
Mercosur Regional Analysis
Argentina Corn Argentina’s corn harvest continues to advance at the national level. After a weekly gain of 2.2 percentage points, harvest has reached 15.2 percent of the suitable area. Although recent rainfall has partially limited fieldwork, it has not had a significant impact on overall...
War in Iran Taking Toll on Meat Exports Globally and U.S. Agriculture
The war in Iran is taking a toll on meat exports as well as fuel and fertilizer. As noted in a letter to the Administration, “Maritime freight disruptions from the ongoing conflict in Iran pose significant consequences to food security here at home and around the world.” This comes...