Recent Feed Grains Analysis
Summary of Futures
Dec 26 Corn closed at $4.455/bushel, up $0.03 from yesterday's close. Dec 26 Wheat closed at $5.9325/bushel, up $0.09 from yesterday's close. Jan 27 Soybeans closed at $12.315/bushel, up $0.125 from yesterday's close. Dec 26 Soymeal closed at $329.8/short ton, up $4.4 from yes...
Market Commentary: Cattle Futures Rally Throughout Week as Corn Export Sales Surge
What You Need to Know Today: The cattle market rebounded sharply this week, with January feeder cattle futures gaining $16.98/cwt and February live cattle futures advancing $7.60/cwt since last Friday. Tyson Foods' plans to restore a second processing shift at its Amarillo, Texas, facili...
Farm Support Payments: What Are Taxpayers Really Buying?
Key Takeaways: The rationale for farm programs has changed significantly from their original intentions. Farmers’ incomes have grown sharply and have surpassed non-farm incomes beginning in the 1970s. Current farm programs are complex and focus on supporting risk management, environmenta...
Summary of Futures
Dec 26 Corn closed at $4.425/bushel, down $0.055 from yesterday's close. Dec 26 Wheat closed at $5.8425/bushel, down $0.1525 from yesterday's close. Jan 27 Soybeans closed at $12.19/bushel, down $0.1175 from yesterday's close. Dec 26 Soymeal closed at $325.4/short ton, down $4...
Market Commentary: Corn and Soybean Rallies Fade as Markets Reassess USDA's November Outlook
What You Need to Know Today: The U.S. dollar continued to strengthen Thursday as persistent inflation reinforced expectations for additional Federal Reserve interest rate hikes. Higher Treasury yields have helped support the dollar, potentially reducing the competitiveness of U.S. agricultural...
Summary of Futures
Dec 26 Corn closed at $4.48/bushel, down $0.01 from yesterday's close. Dec 26 Wheat closed at $5.995/bushel, up $0.0675 from yesterday's close. Jan 27 Soybeans closed at $12.3075/bushel, up $0.0275 from yesterday's close. Dec 26 Soymeal closed at $329.7/short ton, up $3.2 from...
Market Commentary: Will Follow-Through Match the Headlines?
Veterans Day offers a moment to pause and recognize the people behind the uniform. To all who have served and the families who have supported them, thank you for your dedication, courage and sacrifice. Markets had plenty of headlines to digest today, and grains offered some encouraging follow-t...
Ethanol and Biodiesel Margin Outlook Amid Falling Energy Markets
Key Takeaways: The recent pullback in crude oil and other energy markets has left many in the ag and biofuels communities wondering what it means for ethanol and biodiesel prices and profit margins. WPI’s research indicates a weak but still significant link between ethanol and crud...
Alabama and Louisiana Request RFS Waivers but Approval Remains Unlikely
Key Takeaways: Alabama and Louisiana have requested partial waivers of 2027 Renewable Fuel Standard (RFS) requirements, arguing that rising compliance costs are contributing to higher fuel prices and economic hardship. Louisiana Governor Jeff Landry is encouraging neighboring states to join th...
Black Sea Regional Analysis
Russian Grain Markets: 2–6 November 2026 The Russian grain market remained relatively stable during the first week of November, although prices varied significantly by region. Prices were bearish in the Central, Black Soil and Southern Federal districts, while the Volga Valley, Urals and...
Summary of Futures
Dec 26 Corn closed at $4.49/bushel, up $0.0975 from yesterday's close. Dec 26 Wheat closed at $5.9275/bushel, up $0.0475 from yesterday's close. Jan 27 Soybeans closed at $12.28/bushel, up $0.3975 from yesterday's close. Dec 26 Soymeal closed at $326.5/short ton, up $5.8 from...
Market Commentary: USDA Cuts Corn Yield, Boosts Soybeans; Global Stocks Adequate but Vulnerable
What You Need to Know Today: USDA cut the 2026 corn yield forecast by 1.6 BPA to 179.6, shaving 141 Mbu off the crop. Corn ending stocks were cut by 91 Mbu to a level that pushed the ending stocks-to-use (ESU) ratio to 10.8 percent. Conversely, USDA raised the soybean yield forecast 0.2 BPA to...
Summary of Futures
Dec 26 Corn closed at $4.455/bushel, up $0.03 from yesterday's close. Dec 26 Wheat closed at $5.9325/bushel, up $0.09 from yesterday's close. Jan 27 Soybeans closed at $12.315/bushel, up $0.125 from yesterday's close. Dec 26 Soymeal closed at $329.8/short ton, up $4.4 from yes...
Market Commentary: Cattle Futures Rally Throughout Week as Corn Export Sales Surge
What You Need to Know Today: The cattle market rebounded sharply this week, with January feeder cattle futures gaining $16.98/cwt and February live cattle futures advancing $7.60/cwt since last Friday. Tyson Foods' plans to restore a second processing shift at its Amarillo, Texas, facili...
Farm Support Payments: What Are Taxpayers Really Buying?
Key Takeaways: The rationale for farm programs has changed significantly from their original intentions. Farmers’ incomes have grown sharply and have surpassed non-farm incomes beginning in the 1970s. Current farm programs are complex and focus on supporting risk management, environmenta...
Summary of Futures
Dec 26 Corn closed at $4.425/bushel, down $0.055 from yesterday's close. Dec 26 Wheat closed at $5.8425/bushel, down $0.1525 from yesterday's close. Jan 27 Soybeans closed at $12.19/bushel, down $0.1175 from yesterday's close. Dec 26 Soymeal closed at $325.4/short ton, down $4...
Market Commentary: Corn and Soybean Rallies Fade as Markets Reassess USDA's November Outlook
What You Need to Know Today: The U.S. dollar continued to strengthen Thursday as persistent inflation reinforced expectations for additional Federal Reserve interest rate hikes. Higher Treasury yields have helped support the dollar, potentially reducing the competitiveness of U.S. agricultural...
Summary of Futures
Dec 26 Corn closed at $4.48/bushel, down $0.01 from yesterday's close. Dec 26 Wheat closed at $5.995/bushel, up $0.0675 from yesterday's close. Jan 27 Soybeans closed at $12.3075/bushel, up $0.0275 from yesterday's close. Dec 26 Soymeal closed at $329.7/short ton, up $3.2 from...
Market Commentary: Will Follow-Through Match the Headlines?
Veterans Day offers a moment to pause and recognize the people behind the uniform. To all who have served and the families who have supported them, thank you for your dedication, courage and sacrifice. Markets had plenty of headlines to digest today, and grains offered some encouraging follow-t...
Ethanol and Biodiesel Margin Outlook Amid Falling Energy Markets
Key Takeaways: The recent pullback in crude oil and other energy markets has left many in the ag and biofuels communities wondering what it means for ethanol and biodiesel prices and profit margins. WPI’s research indicates a weak but still significant link between ethanol and crud...
Alabama and Louisiana Request RFS Waivers but Approval Remains Unlikely
Key Takeaways: Alabama and Louisiana have requested partial waivers of 2027 Renewable Fuel Standard (RFS) requirements, arguing that rising compliance costs are contributing to higher fuel prices and economic hardship. Louisiana Governor Jeff Landry is encouraging neighboring states to join th...
Black Sea Regional Analysis
Russian Grain Markets: 2–6 November 2026 The Russian grain market remained relatively stable during the first week of November, although prices varied significantly by region. Prices were bearish in the Central, Black Soil and Southern Federal districts, while the Volga Valley, Urals and...
Summary of Futures
Dec 26 Corn closed at $4.49/bushel, up $0.0975 from yesterday's close. Dec 26 Wheat closed at $5.9275/bushel, up $0.0475 from yesterday's close. Jan 27 Soybeans closed at $12.28/bushel, up $0.3975 from yesterday's close. Dec 26 Soymeal closed at $326.5/short ton, up $5.8 from...
Market Commentary: USDA Cuts Corn Yield, Boosts Soybeans; Global Stocks Adequate but Vulnerable
What You Need to Know Today: USDA cut the 2026 corn yield forecast by 1.6 BPA to 179.6, shaving 141 Mbu off the crop. Corn ending stocks were cut by 91 Mbu to a level that pushed the ending stocks-to-use (ESU) ratio to 10.8 percent. Conversely, USDA raised the soybean yield forecast 0.2 BPA to...