There are several differences between WPI's wheat production estimates by country and USDA's 12 July numbers. The net result, though, is a significant shift from last year that will have implications going forward.Following the previous discussion here regarding the likelihood of smaller supplies among the world’s major wheat exporters in MY 2017/18 (see Ag Perspectives, 22 May 2017), the table below shows our thoughts about the change in their production levels as of today:Note that WPI’s production estimates by country don’t match up with USDA numbers of 12 July. Following are the differences:
WPI thinks USDA’s U.S. spring wheat estimate is too high by at least 1.5 MMT. There was no change in harvested acres, and significant acreage in...
What You Need to Know Today: China’s state-run COFCO, in statements on Tuesday, implied that U.S. corn exports were currently uneconomical but hinted that the Middle Kingdom would import 3.5 MMT of the feed grain this year, with 1 MMT likely sourced from the U.S. Another drone attack has...
Tanker-tracking data shows a smaller recovery in oil flowing through the Strait of Hormuz than previously thought. Energy Secretary Chris Wright, speaking by video to an international energy conference in Riyadh, Saudi Arabia, said that oil moving through the strait was back to 80 to 90 percent...
Key Takeaways: While soybean, palm, sunflower, and rapeseed oils dominate global vegetable oil markets, premium oils such as olive, avocado, coconut, and sesame command substantially higher prices due to their distinctive flavors, nutritional characteristics, and specialized culinary uses.. Ol...
