Market Commentary: Funds Come Off Their High Horse
With no bullish surprise out of Beijing this week and good weather taking over many global crop areas, funds spent the past couple of days selling off the peak positions they had built. CNN’s Live Updates blared, “No signs Trump and Xi resolved any thorny challenges.” By...
Trump-Xi Bilateral Meeting Over
The long-awaited meeting between President Trump and President Xi of China has concluded, and details are elusive, though Trump stated today that he and Xi made some “fantastic” trade deals. Both countries reported the meetings as a success, but that has more to do with positioning...
Wheat Prospects in China and India: Much Ado About Nothing?
Key Takeaways Weather conditions in China and India are deteriorating and threatening the wheat crops. Drought conditions in China are not without precedent, and modeling efforts suggest a modest 1.5 percent yield reduction vs. 2025. India’s wheat yields are forecast to fall 3 perc...
Farm Labor: Fix What is Broken?
We at WPI hear frequently that U.S. agriculture is broken and needs fixing. This argument is often heard in MAHA-related discussions and focuses on highly processed food consumption or the overuse of pesticides and chemical fertilizers. Among farmers and food processors, however, especially tho...
FOB Prices and Freight Rates App (Updated 15 May)
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 “...
Market Commentary: Lack of China Specifics Sink Market
There was heavy volume exiting soybeans, which dragged down the broader market today. The lack of a specific Chinese buying commitment for soybeans undermined speculators who had placed bets on state-directed trade. But even the Chinese do not totally ignore market fundamentals. They may still...
Administration to Suspend TRQ Waiver on Beef
On Tuesday, 12 May, WPI reported on an Executive Order being prepared by the Trump Administration to suspend tariff rate quotas (TRQs) on beef from all exporters for 200 days as a means of addressing high beef prices in the United States. After considerable pushback from cattle producer groups,...
Market Commentary: War, Weather, and Waiting
Key Market Insights The broad market is locked in on this week’s Trump-Xi meeting in Beijing, but this is no longer just a trade summit. Increasingly, the meeting is becoming tied directly to Iran, energy security, and the growing global economic fallout from disruptions through the Strai...
Policy Roundup
A federal appeals court paused a USITC ruling against President Trump’s use of Section 122 to impose 10-percent global tariffs. A bipartisan group of 80 House members asked USTR to investigate specialty crop imports from Mexico for unfair trade practices. India notified the WT...
Black Sea Regional Analysis
Russian Grain Markets: 4 - 8 May 2026 During the week under review, the Russian grain market began showing more bullish sentiment despite the traditionally slow pace of business during the May holiday period. Russia celebrates several holidays during early May, with Victory Day on 9 May being t...
Market Commentary: USDA Slashes Wheat Outlook, Soy Balance Sheet Heavily Yield-Dependent
What You Need to Know Today: Iran says its definition of the Strait of Hormuz is now a “vast operation area” that stretches from Jask to Siri Island. The White House said President Trump did not sign a suspension of the TRQs on beef imports but is “finalizing potential...
Xi-Trump Summit Bottom Line
If the media headlines and Trump critics are to be believed, President Trump is headed to Beijing this Thursday in a weakened position. China is in control, it has the upper hand, and expectations are very low. These are the same critics that argue against overly simplistic zero-sum analyses in...
Market Commentary: Funds Come Off Their High Horse
With no bullish surprise out of Beijing this week and good weather taking over many global crop areas, funds spent the past couple of days selling off the peak positions they had built. CNN’s Live Updates blared, “No signs Trump and Xi resolved any thorny challenges.” By...
Trump-Xi Bilateral Meeting Over
The long-awaited meeting between President Trump and President Xi of China has concluded, and details are elusive, though Trump stated today that he and Xi made some “fantastic” trade deals. Both countries reported the meetings as a success, but that has more to do with positioning...
Wheat Prospects in China and India: Much Ado About Nothing?
Key Takeaways Weather conditions in China and India are deteriorating and threatening the wheat crops. Drought conditions in China are not without precedent, and modeling efforts suggest a modest 1.5 percent yield reduction vs. 2025. India’s wheat yields are forecast to fall 3 perc...
Farm Labor: Fix What is Broken?
We at WPI hear frequently that U.S. agriculture is broken and needs fixing. This argument is often heard in MAHA-related discussions and focuses on highly processed food consumption or the overuse of pesticides and chemical fertilizers. Among farmers and food processors, however, especially tho...
FOB Prices and Freight Rates App (Updated 15 May)
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 “...
Market Commentary: Lack of China Specifics Sink Market
There was heavy volume exiting soybeans, which dragged down the broader market today. The lack of a specific Chinese buying commitment for soybeans undermined speculators who had placed bets on state-directed trade. But even the Chinese do not totally ignore market fundamentals. They may still...
Administration to Suspend TRQ Waiver on Beef
On Tuesday, 12 May, WPI reported on an Executive Order being prepared by the Trump Administration to suspend tariff rate quotas (TRQs) on beef from all exporters for 200 days as a means of addressing high beef prices in the United States. After considerable pushback from cattle producer groups,...
Market Commentary: War, Weather, and Waiting
Key Market Insights The broad market is locked in on this week’s Trump-Xi meeting in Beijing, but this is no longer just a trade summit. Increasingly, the meeting is becoming tied directly to Iran, energy security, and the growing global economic fallout from disruptions through the Strai...
Policy Roundup
A federal appeals court paused a USITC ruling against President Trump’s use of Section 122 to impose 10-percent global tariffs. A bipartisan group of 80 House members asked USTR to investigate specialty crop imports from Mexico for unfair trade practices. India notified the WT...
Black Sea Regional Analysis
Russian Grain Markets: 4 - 8 May 2026 During the week under review, the Russian grain market began showing more bullish sentiment despite the traditionally slow pace of business during the May holiday period. Russia celebrates several holidays during early May, with Victory Day on 9 May being t...
Market Commentary: USDA Slashes Wheat Outlook, Soy Balance Sheet Heavily Yield-Dependent
What You Need to Know Today: Iran says its definition of the Strait of Hormuz is now a “vast operation area” that stretches from Jask to Siri Island. The White House said President Trump did not sign a suspension of the TRQs on beef imports but is “finalizing potential...
Xi-Trump Summit Bottom Line
If the media headlines and Trump critics are to be believed, President Trump is headed to Beijing this Thursday in a weakened position. China is in control, it has the upper hand, and expectations are very low. These are the same critics that argue against overly simplistic zero-sum analyses in...