World Perspectives
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Market Commentary: Paris, KC, Chicago Wheat Score New Highs; Soybeans Rally as China Buys

The CBOT was sharply higher in trade that continued the bullish reaction to Thursday’s WASDE report. All three wheat classes and new crop corn futures scored new contract highs, though CBOT wheat and corn pulled back to post modest losses for the day. Soybeans rallied sharply and are moving towards the high side of their trade range after China returned to the U.S. to secure old crop supplies. Even lean hog futures got in on the bullish trade and rallied $2.40-$3.35/cwt on short covering. The major loser for the day was the live cattle contract where funds were still net sellers and pushed the market below major technical support. Funds were net buyers across the board on Friday as USDA’s latest assessment points to continued ti...

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feed-grains soy-oilseeds wheat

Market Commentary: Defensive into the Holiday

With crops in short supply and weather far from perfect, traders did not want to be short corn, wheat, and soybeans going into a three-day hiatus in trading. While today’s gains were modest, July soybeans ended the week up 27 cents, while July corn is down 1.5 cents, and July SRW lost 11...

USDA Offers Early Termination of CRP Contracts

Yesterday, USDA announced that farmers in their last year of Conservation Reserve Program (CRP) contracts can opt out early this year. About 3.4 million acres expire this year, and a little more than half, call it 1.7 million, made bids to re-enroll. Overall continuous sign up for CRP has enrol...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 22 Corn closed at $7.7725/bushel, up $0.1225 from yesterday's close.  Jul 22 Wheat closed at $11.575/bushel, up $0.1425 from yesterday's close.  Jul 22 Soybeans closed at $17.3225/bushel, up $0.0575 from yesterday's close.  Jul 22 Soymeal closed at $432.3/short ton, up $4.1 f...

feed-grains soy-oilseeds wheat

Market Commentary: Defensive into the Holiday

With crops in short supply and weather far from perfect, traders did not want to be short corn, wheat, and soybeans going into a three-day hiatus in trading. While today’s gains were modest, July soybeans ended the week up 27 cents, while July corn is down 1.5 cents, and July SRW lost 11...

USDA Offers Early Termination of CRP Contracts

Yesterday, USDA announced that farmers in their last year of Conservation Reserve Program (CRP) contracts can opt out early this year. About 3.4 million acres expire this year, and a little more than half, call it 1.7 million, made bids to re-enroll. Overall continuous sign up for CRP has enrol...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 22 Corn closed at $7.7725/bushel, up $0.1225 from yesterday's close.  Jul 22 Wheat closed at $11.575/bushel, up $0.1425 from yesterday's close.  Jul 22 Soybeans closed at $17.3225/bushel, up $0.0575 from yesterday's close.  Jul 22 Soymeal closed at $432.3/short ton, up $4.1 f...

Middle Kingdom Approach; Friday Snippets

Middle Kingdom Approach U.S. Secretary of State Antony Blinken articulated the Biden Administration’s policy toward China in a highly nuanced fashion. The key point is that the U.S. does not envision a new Cold War, but rather welcomes competition and wants to mold China into following th...

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From WPI Consulting

Forecasting developments in production agriculture

On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.

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