It was another day of market turmoil over tariffs. There is still not enough clarity or transition time for businesses. The high tariffs between the U.S. a...
Articles
Summary of Futures
May 25 Corn closed at $4.74/bushel, up $0.05 from yesterday's close. May 25 Wheat closed at $5.4225/bushel, up $0.0225 from yesterday's close. ...
Black Sea Regional Analysis
Russian Grain Markets: 31 March – 4 April 2025 Russian wheat, the only de-facto exportable commodity for the moment, is relatively stable but shows t...
Market Commentary: CBOT Bounces on WASDE Prep, Oversold Conditions
CBOT ag markets found more support on Tuesday as traders prepare for Thursday’s WASDE report and as hope is emerging that various trading partners wi...
Some Clarity, But Long Haul
Trump officials this past weekend kept up the mixed messaging over whether reciprocal tariffs were merely a negotiating strategy or a permanent fixture. Br...
Ethanol to the Rescue!
Senate Majority Leader John Thune (R-SD) and Senator Dick Durbin (D-IL) headed a letter of 15 other bipartisan Senators asking President Trump to permit th...
Summary of Futures
May 25 Corn closed at $4.69/bushel, up $0.045 from yesterday's close. May 25 Wheat closed at $5.4/bushel, up $0.035 from yesterday's close. May...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Syria’s grain production was down by 17 percent in 2024 and due to dry weather and s...
Livestock Industry Margins
Except for beef packer and feedlot placement margins, cattle and hog industry profits were broadly lower last week with the pork industry seeing the most p...
Market Commentary: Inspections, Tariffs and VIX Was the Day’s Fix
Soybeans and wheat followed the overnight and opened higher, with corn briefly above zero. Supportive early in the session were export inspections for last...
Summary of Futures
May 25 Corn closed at $4.645/bushel, up $0.0425 from yesterday's close. May 25 Wheat closed at $5.365/bushel, up $0.075 from yesterday's close. ...
MAHA and Bird Flu
HHS Secretary Robert F. Kennedy Jr. is trekking to Utah, New Mexico, and Arizona starting today to tout state laws that align with his “Make America...
Mercosur Regional Analysis
Corn Market Update Argentina Faces Harvest Delays and Changing Trade Dynamics Corn harvest progress in Argentina was slow last week, with only 1 percentage...
European Market Analysis
Regional News Both the GBP and EUR are seen as safe-haven trades right now, which has led to appreciation in both currencies. That is making exports...
CFTC COT Report Analysis
The ag markets and traders’ position in them look dramatically different now than they did last Tuesday, the CFTC’s weekly reporting deadline...
Market Commentary: Retaliation Hits as Trade War Deepens Outlook
Many stock market experts this week were advising not to start panic selling, but apparently many did. Major stock indices dropped 6-7 percent. Agricultura...
Summary of Futures
May 25 Corn closed at $4.6025/bushel, up $0.0275 from yesterday's close. May 25 Wheat closed at $5.29/bushel, down $0.07 from yesterday's close. ...
Trade and Jobs Reports
Now that the Administration’s tariff plans are out, what is happening to the trade deficit? After hitting a record in January, the trade deficit shra...
Tight Supplies, Strong U.S. Demand to Support Cattle Prices Despite Trade War
Anyone following the beef and cattle markets recently has seen the volatility that preceded the recent surge to new contract highs, and the lack of consens...
Summary of Futures
May 25 Corn closed at $4.575/bushel, down $0.0025 from yesterday's close. May 25 Wheat closed at $5.36/bushel, down $0.0325 from yesterday's close.&n...
Market Commentary: Tariffs on, Risk off
The market opened today as it had closed from the previous night’s session, with double digit declines in many contracts. An hour into today’s...
While Swinging for the Fence
Early reactions to President Trump’s tariff war are as expected. Major foreign trading partners are expressing shock and assuring Washington that if...
Livestock Roundup: Liberation Day Declared, Will Cooler Heads Prevail?
Yesterday, President Trump imposed reciprocal tariffs, stating: My fellow Americans, this is Liberation Day. April 2, 2025, will forever be remembered as t...
Export Sales
Export Sales and Shipments for March 21-27, 2025. Wheat: Net sales of 340,000 metric tons (MT) for 2024/2025 were up noticeably from the previous week and...
Oilseed Highlights: “Liberation Day” Rattles Markets
The Market Prior to the Liberation Day tariffs that President Trump announced late Wednesday, oilseed markets were seeing noted strength due to renew...
Summary of Futures
May 25 Corn closed at $4.5775/bushel, down $0.04 from yesterday's close. May 25 Wheat closed at $5.3925/bushel, down $0.0125 from yesterday's close.&...
Market Commentary: Liberation Day Pressures Grains but Cattle Rally to New Highs
President Trump declared 2 April as “Liberation Day” for U.S. trade policy, which is funny because the policies have nothing to do with liberat...
“Reciprocal” Tariffs; Apocalypse Day, or Not; Misdirection
“Reciprocal” Tariffs President Trump’s political opponents acknowledge he is a great marketer and his multi-day hype of a “Liberati...
Black Sea Regional Analysis
Russian Grain Markets: 24 – 28 March 2025 The Russian Ministry of Agriculture once again announced revised figures for the 2024 crop including occupi...
Market Commentary: CBOT Gains After USDA Reports; Soyoil Leads Soy Complex Higher
The CBOT was mostly higher following the all-important Prospective Plantings and Grain Stocks reports with traders looking to price in emerging factors now...
Summary of Futures
May 25 Corn closed at $4.6175/bushel, up $0.045 from yesterday's close. May 25 Wheat closed at $5.405/bushel, up $0.035 from yesterday's close. ...
Uncertainty Ends
Trump’s tariff threats are said to be causing uncertainty, though its intent is transparent. One thing tomorrow’s release of the tariff plan wi...
Quick Hits: Agency Employment, Grains Reports, and Biofuels
USDA Retirement: USDA employees have until 8 Apil to decide whether to participate in the administration's so-called deferred resignation program. USDA emp...
Livestock Industry Margins
Near-record negative margins for beef packers continue to dominate discussion of livestock industry margins this week. Beef packer profits rebounded slight...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region There is very little information on the Middle East and North Africa due to the end of Ram...
Summary of Futures
May 25 Corn closed at $4.5725/bushel, up $0.04 from yesterday's close. May 25 Wheat closed at $5.37/bushel, up $0.0875 from yesterday's close. ...