World Perspectives
feed-grains soy-oilseeds wheat

Market Commentary

It was another quiet night session Thursday evening with little price change in corn, wheat and soybean futures, and that dull pattern of trade didn’t change today. U.S. weather is basically cool and dry for the foreseeable future. That should allow the remaining fall harvests to finish and also enable farmers to plant the rest of the winter wheat they still intend to get in the ground. Today’s weekly export sales report contained no surprise except the very big sales for soymeal of 230,000 MT. If anything, weekly sales for corn, wheat and soybeans were slightly below expectations. USDA announced the sale of 100,000 MT of soybeans to “unknown,” and it seems that most of those registrations of the past few months hav...

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feed-grains soy-oilseeds wheat

Market Commentary: CBOT Gains to Close Week; Wheat Firms on Bullish News

The CBOT was mostly higher to end a mostly bearish week with wheat leading the way on several mildly bullish developments. Wheat futures saw price-supportive development in the IGC’s lower 2024/25 global ending stocks forecast, dryness in the U.S. Southern Plains, and smaller Russian 2024...

feed-grains soy-oilseeds wheat

CFTC COT Report Analysis

Based on futures’ price action late last week and early this week, one would be expecting funds to have been net sellers in the major ag commodities, and that’s exactly what happened. Funds expanded their short soybean position by some 30,000 contracts, making it a new five-year low...

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Cattle on Feed Report: Placements and Marketings Dropped Sharply

USDA released the monthly Cattle on Feed report today. Total inventory, placements and marketings all came in lower than the pre-report estimates, though total inventory was at the same volume or higher than last year for the seventh consecutive month. Placements came in well below the average...

feed-grains soy-oilseeds wheat

Market Commentary: CBOT Gains to Close Week; Wheat Firms on Bullish News

The CBOT was mostly higher to end a mostly bearish week with wheat leading the way on several mildly bullish developments. Wheat futures saw price-supportive development in the IGC’s lower 2024/25 global ending stocks forecast, dryness in the U.S. Southern Plains, and smaller Russian 2024...

feed-grains soy-oilseeds wheat

CFTC COT Report Analysis

Based on futures’ price action late last week and early this week, one would be expecting funds to have been net sellers in the major ag commodities, and that’s exactly what happened. Funds expanded their short soybean position by some 30,000 contracts, making it a new five-year low...

livestock

Cattle on Feed Report: Placements and Marketings Dropped Sharply

USDA released the monthly Cattle on Feed report today. Total inventory, placements and marketings all came in lower than the pre-report estimates, though total inventory was at the same volume or higher than last year for the seventh consecutive month. Placements came in well below the average...

feed-grains soy-oilseeds wheat

Summary of Futures

May 24 Corn closed at $4.335/bushel, up $0.0675 from yesterday's close.  Jul 24 Wheat closed at $5.6675/bushel, up $0.1375 from yesterday's close.  May 24 Soybeans closed at $11.505/bushel, up $0.1625 from yesterday's close.  Jul 24 Soymeal closed at $343.2/short ton, up $5.8 fro...

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From WPI Consulting

Communicating importance of value-added products

Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.

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