WPI Spotlight

  • August 24, 2017
    During his presidential campaign, candidate Donald Trump often characterized the 23-year-old North American Free... NAFTA Renegotiation Begins
  • June 20, 2017
    Farmers in India want the Swaminathan Report recommendations implemented, including the suggestion that Minimum... Loan Waivers and MSP Issues in India

Spotlight

A spring update on corn in China

Although the Chinese government has taken a series of measures to quicken the procurement of local corn to replenish reserves, the overall procurement pace is still very slow, as most farmers in China are holding no higher than 20 percent stocks of corn at hand and they are not in a hurry to sell now in expectation of higher prices and with attention now focused on spring planting.

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Supplying soybeans and soymeal to export markets is key

For most of the last 30 years it has been the growth in domestic demand for soymeal and soyoil that has been the prime driver behind investments by U.S. oilseed processing firms. 

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How Oilseed Supply Can Meet Burgeoning Demand

If global soybean demand continues to grow at the pace of the last two decades, then world soybean supply will need to increase by 70 mmt in a decade to meet demand. That is a lot considering it is about equal to this year's forecasted production of soybeans in Brazil, the world's second-largest producer. It also is equal to about 27 percent of forecasted global soybean production in 2010/11.

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The Uncertain Political Situation Continues to affect Markets

The main news in the Mediterranean region is still Libya, and military actions against Libya are continuing as this report is written. The military action following the U.N resolution is limited to military targets and should not, one hopes, have any effect in other areas.

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Market Volatility takes on a new meaning

The week of 14-18 March 2011 had to be the most volatile weeks in the history of agricultural markets—if not all markets. I didn't look backwards to try to find another period of similarly explosive moves first lower and then higher, but it's hard to imagine it could have ever been worse.

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How low can the corn carryout go?

Yesterday's WASDE from USDA sent sort of a shock wave through grain markets. Although there was good reason for USDA to increase estimated corn use from a statistical perspective, traders were nevertheless surprised that USDA chose to do so in February. Most thought that further tightening of the U.S. corn S and D would happen in a later month. On the other hand, we have heard speculation that USDA raised estimated use and dropped ending stocks to a "pipeline" level in February hoping the price reaction would stimulate the necessary demand rationing earlier rather than later. We doubt it is fair or accurate to accuse USDA and the World Board of such a devious approach. It seems much more likely that USDA/WOAB analysts simply called things as they saw them, as they should.

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WPI Spotlight

  • August 24, 2017
    During his presidential campaign, candidate Donald Trump often characterized the 23-year-old North American Free... NAFTA Renegotiation Begins
  • June 20, 2017
    Farmers in India want the Swaminathan Report recommendations implemented, including the suggestion that Minimum... Loan Waivers and MSP Issues in India