Market Commentary: Looking for Market Movers
The bearishness continues as South America crops loom and Northern Hemisphere weather is stable. The impending flood of Argentine soymeal and soyoil onto the market sent the May soyoil contract to a new low. There was nothing in today’s weekly USDA Export Sales report to alter the...
Transatlantic GI’ing Consumers; Political Expediency, Oh My
Transatlantic GI’ing Consumers Politicians on both sides of the Atlantic protest big business and their sacrilegious capitalism. Yet sometimes it is government screwing the consumer to boost private profits. Parmigiano Reggiano was a prized and premium priced cheese before obtaining the E...
Livestock Roundup: Cattle on Feed Preview
USDA will release its Cattle on Feed report tomorrow; the consensus pre-report analysts’ estimate is for the inventory of cattle on feed as of 1 April to be 102 percent of last year; this would be the seventh consecutive month that inventories were equal to or larger than the previous yea...
Market Commentary: Grains Fall while Oilseeds Gain; Oil Falls on U.S. Stocks, Chinese Economy
The CBOT was mixed on Wednesday with wheat futures dropping amid fund selling due to a stronger U.S. dollar and easing Russian FOB offers while corn drifted lower in lackluster, low-volume trade. While the grains were on the defensive, the soy complex found some support from technically related...
Biden-Trump on Trade Policy
A Washington International Trade Association discussion on trade policy with former officials from both the Trump and Biden administrations reinforced the bipartisan agreement on some trade policies. A day after House GOP representatives slammed USTR Katherine Tai for the Biden Administration&r...
Wheat Uptake with No Clear Answer
USDA reports that per capita flour consumption in 2023 fell to the lowest level in 37 years. Flour production and exports were lower, but so were flour imports. The question is why? It has been noted that consumers in developing countries with rising incomes tend to switch from rice consumption...
FOB Prices and Freight Rate App (Updated 17 April)
Ocean Freight Comments - 12 April 2024 By Matt Herrington Ample vessel availability and weak cargo demand meant that dry-bulk freight markets struggled again this week with rates softening across the board. Weak coal demand, particularly from China, remains the primary culprit of weaker markets...
Interactive Ocean Freight Rates (Updated 17 April)
Ocean Freight Comments - 12 April 2024 By Matt Herrington Ample vessel availability and weak cargo demand meant that dry-bulk freight markets struggled again this week with rates softening across the board. Weak coal demand, particularly from China, remains the primary culprit of weaker markets...
Black Sea Regional Analysis
Russian Grain Markets: 8–12 April 2024 During the first week of April, the Russian domestic grain market remained quite volatile but predominantly stable and bearish. The exception was milling wheat going for export which triggered price improvements in the ports against a weaker RUB and...
Market Commentary: Corn, Soybeans Fall on Planting Progress, Weather; NOPA Report Sinks Soyoil
The CBOT was mostly lower on Tuesday with broadly favorable weather in the U.S. and South America allowing timely planting and harvesting, respectively, of summer crops. Monday’s Crop Progress report from USDA indicated that U.S. farmers are making solid gains seeding the 2024 crops with...
Supply Chain Diversity; Clean Hands?; Bipolar Politics
Supply Chain Diversity EU policy experts have assembled a tome on the “State of Food Security in the EU.” The biannual report focuses on how to ensure food security in times of crisis. The authors highlight the growing concerns about extreme adverse weather events in the EU. They lo...
Fed Cattle Near Term Supply and Demand
Fed cattle prices remain at record levels, but the market has been bearish with dropping futures and a weak cash market; prices dropped last week about $2 live and $4 dressed. In the first four months of last year, cattle prices climbed steadily and hit their highest level in April, dropp...
Market Commentary: Looking for Market Movers
The bearishness continues as South America crops loom and Northern Hemisphere weather is stable. The impending flood of Argentine soymeal and soyoil onto the market sent the May soyoil contract to a new low. There was nothing in today’s weekly USDA Export Sales report to alter the...
Transatlantic GI’ing Consumers; Political Expediency, Oh My
Transatlantic GI’ing Consumers Politicians on both sides of the Atlantic protest big business and their sacrilegious capitalism. Yet sometimes it is government screwing the consumer to boost private profits. Parmigiano Reggiano was a prized and premium priced cheese before obtaining the E...
Livestock Roundup: Cattle on Feed Preview
USDA will release its Cattle on Feed report tomorrow; the consensus pre-report analysts’ estimate is for the inventory of cattle on feed as of 1 April to be 102 percent of last year; this would be the seventh consecutive month that inventories were equal to or larger than the previous yea...
Market Commentary: Grains Fall while Oilseeds Gain; Oil Falls on U.S. Stocks, Chinese Economy
The CBOT was mixed on Wednesday with wheat futures dropping amid fund selling due to a stronger U.S. dollar and easing Russian FOB offers while corn drifted lower in lackluster, low-volume trade. While the grains were on the defensive, the soy complex found some support from technically related...
Biden-Trump on Trade Policy
A Washington International Trade Association discussion on trade policy with former officials from both the Trump and Biden administrations reinforced the bipartisan agreement on some trade policies. A day after House GOP representatives slammed USTR Katherine Tai for the Biden Administration&r...
Wheat Uptake with No Clear Answer
USDA reports that per capita flour consumption in 2023 fell to the lowest level in 37 years. Flour production and exports were lower, but so were flour imports. The question is why? It has been noted that consumers in developing countries with rising incomes tend to switch from rice consumption...
FOB Prices and Freight Rate App (Updated 17 April)
Ocean Freight Comments - 12 April 2024 By Matt Herrington Ample vessel availability and weak cargo demand meant that dry-bulk freight markets struggled again this week with rates softening across the board. Weak coal demand, particularly from China, remains the primary culprit of weaker markets...
Interactive Ocean Freight Rates (Updated 17 April)
Ocean Freight Comments - 12 April 2024 By Matt Herrington Ample vessel availability and weak cargo demand meant that dry-bulk freight markets struggled again this week with rates softening across the board. Weak coal demand, particularly from China, remains the primary culprit of weaker markets...
Black Sea Regional Analysis
Russian Grain Markets: 8–12 April 2024 During the first week of April, the Russian domestic grain market remained quite volatile but predominantly stable and bearish. The exception was milling wheat going for export which triggered price improvements in the ports against a weaker RUB and...
Market Commentary: Corn, Soybeans Fall on Planting Progress, Weather; NOPA Report Sinks Soyoil
The CBOT was mostly lower on Tuesday with broadly favorable weather in the U.S. and South America allowing timely planting and harvesting, respectively, of summer crops. Monday’s Crop Progress report from USDA indicated that U.S. farmers are making solid gains seeding the 2024 crops with...
Supply Chain Diversity; Clean Hands?; Bipolar Politics
Supply Chain Diversity EU policy experts have assembled a tome on the “State of Food Security in the EU.” The biannual report focuses on how to ensure food security in times of crisis. The authors highlight the growing concerns about extreme adverse weather events in the EU. They lo...
Fed Cattle Near Term Supply and Demand
Fed cattle prices remain at record levels, but the market has been bearish with dropping futures and a weak cash market; prices dropped last week about $2 live and $4 dressed. In the first four months of last year, cattle prices climbed steadily and hit their highest level in April, dropp...