Recent Feed Grains Analysis
Market Commentary: Down Day but Most of the Week Was Temporarily Up
Today’s trading was mostly lower based on South American weather and the ever-present tariff threat. Overall, the first week in February 2025 experienced the following: It was the fourth week in a row higher for SRW, and the third week up for HRW and HRS. It was the second week in a row...
Summary of Futures
Mar 25 Corn closed at $4.875/bushel, down $0.0775 from yesterday's close. Mar 25 Wheat closed at $5.8275/bushel, down $0.05 from yesterday's close. Mar 25 Soybeans closed at $10.495/bushel, down $0.11 from yesterday's close. Mar 25 Soymeal closed at $301.4/short ton, down $5 f...
WPI 2025 Acreage Outlook
With the USDA’s annual Ag Outlook forum happening at the end of this month and planting season a little more than four weeks away for parts of the U.S., the industry is turning its attention to the acreage outlook for 2025. This year offers significant differences from recent conditions t...
Market Commentary: Tariff Drama on Hold, Back to South American Weather
The upheaval in the market early this week caused by the head fake on tariffs has subsided and the focus has now returned to fundamental supply and demand. Wheat ruled the market today with higher volume pushing all three major contracts higher. Soybeans and corn traded modestly higher with mea...
Export Sales
Export Sales and Shipments for January 24-30, 2025. Wheat: Net sales of 438,900 metric tons (MT) for 2024/2025 were down 4 percent from the previous week, but up 41 percent from the prior 4-week average. Export shipments of 264,800 MT were down 55 percent from the previous week and 24 per...
Summary of Futures
Mar 25 Corn closed at $4.9525/bushel, up $0.02 from yesterday's close. Mar 25 Wheat closed at $5.8775/bushel, up $0.155 from yesterday's close. Mar 25 Soybeans closed at $10.605/bushel, up $0.035 from yesterday's close. Mar 25 Soymeal closed at $306.4/short ton, down $1.9 from...
Market Commentary: Volatile As Long As Tariffs Are Uncertain
The big news in the ag commodity markets Wednesday was the pullback in soybean futures as traders remain wary of the political tensions and tariff developments between Washington and Beijing. If this doesn’t sound like a major news story, you’d be correct, but this was about as even...
Summary of Futures
Mar 25 Corn closed at $4.9325/bushel, down $0.0125 from yesterday's close. Mar 25 Wheat closed at $5.7225/bushel, down $0.0475 from yesterday's close. Mar 25 Soybeans closed at $10.57/bushel, down $0.18 from yesterday's close. Mar 25 Soymeal closed at $308.3/short ton, down $5...
Black Sea Regional Analysis
Russian Grain Markets: 27 – 31 January 2025 The market remained bullish, however, the dynamics and stability varied from region to region. Prices in the Volga Valley appreciated but Central Russia and the Asian part of Russia are still stable. The key factor was the announcement of lower...
Market Commentary: CBOT Rises on Tariff Relief; Cattle Selloff Extends to Second Day
Markets were encouraged by the fact both Canada and Mexico were able to secure 30-day delays on Trump’s tariff plans, which offers hope the duties are indeed a negotiating tactic rather than a steadfast policy platform. The big issue remains the 10 percent tariff on Chinese goods, and Chi...
Summary of Futures
Mar 25 Corn closed at $4.945/bushel, up $0.0575 from yesterday's close. Mar 25 Wheat closed at $5.77/bushel, up $0.1025 from yesterday's close. Mar 25 Soybeans closed at $10.75/bushel, up $0.1675 from yesterday's close. Mar 25 Soymeal closed at $314/short ton, up $10.3 from ye...
Middle East, Mediterranean, and Africa Regional Analysis
MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Turkey’s monthly inflation rate increased by 5.03 percent in January while the 12-month inflation rate stood at 42.12 percent. Turkey’s inflation rate dropped significantly from the 75 percent rate in May 2024. Lebanon...
Market Commentary: Down Day but Most of the Week Was Temporarily Up
Today’s trading was mostly lower based on South American weather and the ever-present tariff threat. Overall, the first week in February 2025 experienced the following: It was the fourth week in a row higher for SRW, and the third week up for HRW and HRS. It was the second week in a row...
Summary of Futures
Mar 25 Corn closed at $4.875/bushel, down $0.0775 from yesterday's close. Mar 25 Wheat closed at $5.8275/bushel, down $0.05 from yesterday's close. Mar 25 Soybeans closed at $10.495/bushel, down $0.11 from yesterday's close. Mar 25 Soymeal closed at $301.4/short ton, down $5 f...
WPI 2025 Acreage Outlook
With the USDA’s annual Ag Outlook forum happening at the end of this month and planting season a little more than four weeks away for parts of the U.S., the industry is turning its attention to the acreage outlook for 2025. This year offers significant differences from recent conditions t...
Market Commentary: Tariff Drama on Hold, Back to South American Weather
The upheaval in the market early this week caused by the head fake on tariffs has subsided and the focus has now returned to fundamental supply and demand. Wheat ruled the market today with higher volume pushing all three major contracts higher. Soybeans and corn traded modestly higher with mea...
Export Sales
Export Sales and Shipments for January 24-30, 2025. Wheat: Net sales of 438,900 metric tons (MT) for 2024/2025 were down 4 percent from the previous week, but up 41 percent from the prior 4-week average. Export shipments of 264,800 MT were down 55 percent from the previous week and 24 per...
Summary of Futures
Mar 25 Corn closed at $4.9525/bushel, up $0.02 from yesterday's close. Mar 25 Wheat closed at $5.8775/bushel, up $0.155 from yesterday's close. Mar 25 Soybeans closed at $10.605/bushel, up $0.035 from yesterday's close. Mar 25 Soymeal closed at $306.4/short ton, down $1.9 from...
Market Commentary: Volatile As Long As Tariffs Are Uncertain
The big news in the ag commodity markets Wednesday was the pullback in soybean futures as traders remain wary of the political tensions and tariff developments between Washington and Beijing. If this doesn’t sound like a major news story, you’d be correct, but this was about as even...
Summary of Futures
Mar 25 Corn closed at $4.9325/bushel, down $0.0125 from yesterday's close. Mar 25 Wheat closed at $5.7225/bushel, down $0.0475 from yesterday's close. Mar 25 Soybeans closed at $10.57/bushel, down $0.18 from yesterday's close. Mar 25 Soymeal closed at $308.3/short ton, down $5...
Black Sea Regional Analysis
Russian Grain Markets: 27 – 31 January 2025 The market remained bullish, however, the dynamics and stability varied from region to region. Prices in the Volga Valley appreciated but Central Russia and the Asian part of Russia are still stable. The key factor was the announcement of lower...
Market Commentary: CBOT Rises on Tariff Relief; Cattle Selloff Extends to Second Day
Markets were encouraged by the fact both Canada and Mexico were able to secure 30-day delays on Trump’s tariff plans, which offers hope the duties are indeed a negotiating tactic rather than a steadfast policy platform. The big issue remains the 10 percent tariff on Chinese goods, and Chi...
Summary of Futures
Mar 25 Corn closed at $4.945/bushel, up $0.0575 from yesterday's close. Mar 25 Wheat closed at $5.77/bushel, up $0.1025 from yesterday's close. Mar 25 Soybeans closed at $10.75/bushel, up $0.1675 from yesterday's close. Mar 25 Soymeal closed at $314/short ton, up $10.3 from ye...
Middle East, Mediterranean, and Africa Regional Analysis
MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Turkey’s monthly inflation rate increased by 5.03 percent in January while the 12-month inflation rate stood at 42.12 percent. Turkey’s inflation rate dropped significantly from the 75 percent rate in May 2024. Lebanon...