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Trade Policy Holes; Anti-GM Religion; Just Lying

Activists opposed to conventional food and agriculture often step over the line, but one has finally been caught. Trade Policy to Address Industrial Policy...

EPA Did Not Comply With RFS Assessment Obligations

Yesterday the U.S. EPA’s Office of the Inspector General  released its report on a review to determine if the agency complied with the statutory repor...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Russia Slammed; Bear Market Policy

The populist National Farmers Union (NFU) has now provided some ideas on how to address the economic fallout of a long-run bear market.   Russia Slam...

Wheat – Burdensome Feed Quality versus Tight Milling Quality

2016 will be another big wheat production year. The question will be how quality wheat separates itself from the voluminous amount of feed wheat, but there...

Market Commentary

Soybean futures were weaker again overnight with the November contract dipping below $10. Meanwhile, corn and wheat were mostly steady overnight but turned...

Indian Subcontinent Regional Analysis

Considering how difficult it currently is to cull/sell cows in India as there is likely to be a clash of ideologies with the Hindu lobbies, farmers in some...

Market Commentary

Grain and soy complex prices mostly traded lower in overnight action as the technically overbought Malaysian palm oil market corrected from yesterday’s big...

Bear M&A; Ag Policy Ahead

Bear markets always spur more mergers and acquisitions as firms scramble to find savings and survive. Several are currently underway, and members of Congre...

Oilseed Highlights

India has sharply boosted its soyoil imports this year as its vegetable oil refiners have a reason to prefer those stocks over palm oil. Reaching USDA Fore...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Brazil versus U.S. in Meat Production; Cattle on Feed

Last month's feeder calf placements data points to a changing supply situation for the beef market next quarter. Similarly, feedlots' fed cattle marketings...

Supply and Demand

It is not at all unusual to find a period of time in a single crop cycle when the supply side appears dominant and another when demand seems to take over...

Black Sea Regional Analysis

A downward trend still dominated most of the Russian grain market, although the prices for feed barley and corn were unchanged. Meanwhile, there is a dispu...

Market Commentary

After a rather tentative overnight session, CME grain and soy complex futures put together a rally during the day session in which consistency was more imp...

Government Math; Pocket Change; GM Beats Neonicotinoids

Collateral damage to non-target species by pesticides should come as no surprise. What is surprising is that the superiority of genetic modification as a p...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Mercosur Regional Analysis

Last year, Brazilian soybeans were able to compete against  U.S. origin through December, and even January showed some exports. That will not be the c...

Ethanol Production Capacity Increases for Third Year

According to the U.S. Energy Information Administration (EIA), domestic fuel ethanol production capacity has increased for the third consecutive year in 20...

Oilseed Highlights

The National Oilseed Processors Association (NOPA) yesterday released its July monthly soybean crush report, which indicated a drop in volume versus the pr...

Corn Market Conundrum

Despite the very high weekly corn crop condition ratings that persist even though they should begin a seasonal drop, there appears to be widespread skeptic...

Market Commentary

The overnight session saw two-sided trade in reduced volume. While volume improved somewhat during the day session, price action remained indecisive. Fund...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Blockchain Disruption; TPP Strategy; Trump Aggies

Big banks are racing furiously under the assumption that blockchain technology is going to undermine the need for their role in ensuring the integrity of f...

Middle East, Mediterranean and Africa Regional Analysis

Kenya will begin a two-season GM maize testing program in October. The hope is that the biotech variety will be found to be superior to the current maize s...

Southeast Europe Regional Analysis

Saudi Arabia bought 640,000 MT of hard wheat for October/November at prices equivalent to about $196-198 FOB. The cheapest origins were Germany, Poland and...

Policy Conundrum; Extraterritorial; High Prices

There is great frustration on the part of some that the adverse impacts of the food system fail to garner more political attention in a major election year...

Is It Real or Is It Memorex?

Most people won’t remember the “Is it real or is it Memorex?” slogan. With soybean futures finishing today up to 27 cents higher, though, some are wonderin...

Market Commentary

Agricultural markets opened steady to a fraction lower Sunday night, but soybean futures were trading good gains within the first hour. The buying across t...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

China In-Country Analysis

As China's per capita income has boomed, the dining habits of young professionals have changed dramatically. Consequently, demand for high quality flour ha...

Court Rules EPA Pesticide Review Must Move Ahead

A three-judge panel from the Ninth Circuit Court of Appeals chastised the U.S. EPA once again last Friday for a string of delays in taking action on a requ...

Market Commentary

Markets were calm overnight in anticipation of today’s USDA WASDE, which is how today’s session started. Corn had new contract lows before the reports were...

Bearish USDA Reports

Today’s USDA reports were bearish at first glance. However, the picture for soybeans looks much more bullish when factoring record demand against reduced o...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Will Checkoff Programs Be Reformed in the Farm Bill?

Commodity checkoff programs, also known as research and promotion programs, have been the center of controversy in the last few years. As to be expected, w...

Indian Subcontinent Regional Analysis

GOI may not be able to procure the volume of ethanol required to meet its Ethanol Blending Program (EBP) mandate of a 10 percent blend in all gasoline used...

WASDE Farm Bill Impacts; Russia Loses; TPP Movement; Barriers

Today’s WASDE report from USDA may have been bearish for the commodity markets, but it was bullish for the farm spending component of the next farm bill. W...

Market Commentary

Grain and soy markets traded rather quietly on both sides of Wednesday’s closes overnight, but action picked up during the day session, at least in terms o...

The Looming EU Wheat Futures Battle

Euronext’s Paris wheat futures could be considered a far better and more logical proxy for the world wheat market than Chicago wheat futures. The CME Group...

Oilseed Highlights

Argentina's oilseed processors want the country to grow more soybeans so that they can increase their capacity utilization. The country currently has about...

A Look at Cattle Herd Rebuilding

Among market watchers, there is now a great deal of prognostication about the pace of the cattle herd rebuilding amidst positive beef demand signs that can...

Ag Review: Aquaculture's Global Appeal

The Aquaculture Juggernaut Despite efforts by antagonists to end fish farming, its efficiency will keep it the dominant animal protein production methodolo...

Ag Hypocrisy; TTIP Potential Squandered

Neither the political left nor right possesses a monopoly on hypocrisy, but today’s example involves Iowa agribusiness owner Bruce Ratstetter, who is...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Mercosur Regional Analysis

Argentina’s new crop soybean market was active again this week. Two CNF cargoes were traded at $110 and $106 over the July CBOT contract, and one FOB cargo...

Black Sea Regional Analysis

Traders' domestic milling wheat bids in Ukraine kept growing, possibly due to rising export prices. Prices at the UBS ports prices continued to increase as...

PC Marketing; Flunking Science

NGOs in the United Kingdom are complaining to officials because food companies are predominantly marketing snack foods and drinks (“junk food”) during the...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Market Commentary

The overnight session featured stronger soybean and soy product prices with subdued trading of corn and wheat on both sides of Tuesday’s closes. However, t...

Market Commentary

Grain and soy prices were mildly lower in overnight trading with volume no better than average. During the day session, trading in corn and wheat was a two...

Oilseed Highlights

Indonesia’s palm oil stocks fell 8.2 percent to 1.8 MMT in June from 1.96 MMT at the end of May. That was the sixth straight month that they have declined,...

U.S. Farm Production Expenditures Down in 2015

Total farm production expenditures were estimated at $362.8 billion for the year, an 8.8 percent decrease from $397.6 billion in 2014 that was driven by se...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Middle East, Mediterranean and Africa Regional Analysis

Recent analysis of maize cereals and flour in Tanzania have shown very high levels of aflatoxin, but the government claims a different cause of the reporte...

Booming Export Demand

The June data shows that the trend toward larger U.S. exports is already underway, but current export sales volumes for 2016/17 provide a way to add some q...

Indigenously Natural; Best Commodity Policy

Today was the International Day of the World’s Indigenous Peoples, which basically praised these subgroups for their disengagement from the world. The whol...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Milking the System; Orwellian Policy; Killer Trade

Canada will extend and make permanent a program that enables dairy processors to obtain domestic milk at world market prices, which are well below the guar...

Farmland Economics

USDA’s National Agricultural Statistics Service (NASS) has released its annual survey results on farmland values and cash rents, which indicate some change...

Report Week

Virtually everyone involved to any extent in corn and soybean markets is anticipating that USDA will boost those yield estimates, chiefly for two reasons...

Southeast Europe Regional Analysis

The prospects for limited exports out of France are increasing demand for Black Sea wheat as well as other origins. There was one unusual trade involving t...

China In-Country Analysis

The sizable spread between China’s domestic wholesale pork price and foreign-produced pork, which went as high as RMB 26.74/kg ($4.02/kg) in Shanghai this...

Market Commentary

Soybeans, corn and wheat opened better than expected Sunday evening, and volume overnight was fairly strong in all three markets .USDA's announced sale of...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

CME Announces More Changes for Cattle Futures

Today’s announcement included news that the CME will add a seasonal discount on live cattle tendered to one delivery location for the October contract (onl...

Farm Policy Risk; Trade Policy Risk

With the increasing attention in Washington on income inequality, any focus in the future on what parts of agriculture have money and assets while concurre...

More Things to Keep You Up at Night

The surge in corn and soybean export demand is elevating shuttle freight values as well. However, this is not a positive development for some. Meanwhile, t...

Indian Subcontinent Regional Analysis

As India’s inability to import non-GM corn from international markets continues, high input and low output prices as well as other issues over the past few...

Market Commentary

USDA announced additional soybean export sales this morning, which pushed soybean futures as much as 20-22 cents higher early in today’s session. Corn stru...

Speculative Position Limits – Again

Like the proverbial bad penny, the issues raised by the CFTC’s proposals to establish limits on the size of speculative positions held in derivative market...

Market Commentary

Grain and soy contracts once again tried to stage a rally overnight and then early in the day session. Meanwhile, the corn market is continually weighed do...

Domestic Meat Consumption Up; Beef Trade Deal with Brazil

Domestic meat consumption in the U.S. is back on the rise with several  factors all contributing  to lower prices. Last year and 2013 were the on...

Late Complaint; Ganges Food; Darwin Eaters

Now that a WTO dispute settlement panel is forcing India to allow imports of American poultry products, the nation’s chicken farmers are nervous. Their rep...

Oilseed Highlights

It could be assumed that sustainability would not be much of an issue in the developing countries of Southeast Asia. However, there are European firms with...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Market Commentary

Like corn, soybean futures contracts spent most of today’s trade posting green numbers. November soybeans were up as much as 13 cents at the day’s high bef...

Mercosur Regional Analysis

Despite Argentina's high premiums, Brazilian buyers procured corn at $130 over the December contract for delivery in October and November. A large concern...

Black Sea Regional Analysis

Grain prices on the Russian market continued to decrease overall, more significantly when expressed in USD since the ruble has weakened so much over the pa...

Middle East, Mediterranean and Africa Regional Analysis

Egypt’s wheat inspection committee announced that its initial investigation shows a small portion of the government’s local wheat purchases cannot be locat...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Oilseed Highlights

China's Agriculture Minister Han Changfu has announced government plans regarding future corn plantings that could have an impact on the country's soybean...

Ag Perspectives Readers’ Corn Yield Forecast

A survey of Ag Perspectives readers suggests the 2016 U.S. corn yield will exceed both 2014’s record and current USDA projections.What will the 2016 U.S. c...

North American Carbon Reduction: A Tale of Two Nations

A carbon tax was the concept behind President Obama’s cap and trade proposal that was ultimately abandoned early in his first term. In Canada, meanwhile, E...

Sweet is Sweet; Inequality

Although income inequality was heightened by the Great Recession and has statistically tempered, it remains a major policy concern. The outcome of research...

A Few Comments Upon Entering August

While grain and soy markets seem to slow down in August during some years, 2016 may not be such a time as there is so much going on of potential importance...

Market Commentary

The overnight trade saw wheat prices edge higher while corn and soybeans drifted lower on yesterday’s fancy crop condition ratings. Trading volume was a bi...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

China In-Country Analysis

In an effort to reduce China's swelling inventory of imported soybeans, crushing facilities steadily boosted their utilization rates throughout July. Howev...

Productivity; People; Marketing

Like Europe, U.S. use of inputs like fertilizer slowed as genetics and technology increased in their role in production. The difference is that U.S. agricu...

Farm Income Problems and What to Do

Low prices and weak or no profits are spurring a resurgence in marketing interest among farmers, and there are several steps that each can take.There have...

Impact of Presidential Race on Senate and Committees

Now that the major parties’ nominating-conventions are over, the presidential campaign enters its home stretch, a 100-day sprint to the finish. One o...

Market Commentary

The soy complex opened weaker than expected Sunday evening and really never looked back last night or today. November futures were down as much as 44-45 ce...

Indian Subcontinent Regional Analysis

India's sugar prices are expected to remain volatile as its area under sugarcane is down approximately 4 percent for 2016/17. Sugar is priced at $540/MT on...

ARC Program in Search of New Yield Data

The American Soybean Association (ASA) just completed its July board meeting, and it is urging USDA to provide an administrative fix to the 2014 Farm Bill...

Bitter Labeling; U.S. Election and Economy

The recently enacted GMO labeling law may cause a bitter rift in one U.S. industry if USDA uses its discretion and determines that products containing suga...

More Concerns About the Farm Economy

The price collapse during July has again started to highlight some concerns about the state of the U.S. farm economy, but there is one bright spot.The pric...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Market Commentary

While corn is sitting at or near contract lows and wheat was lifeless again today, the soybean market received a lift from another round of export sales an...

Market Commentary

After trading slightly higher overnight, soybean futures prices gave way to a milder weather outlook and less than overwhelming weekly export sales data. T...

The Best of All Worlds

2016/17 is shaping up to be a far different and better year for producers, handlers, transporters, processors and exporters of the major U.S. row crops tha...

Oilseed Highlights

Compared with 2014/15, this year’s volume of U.S. soymeal exports has not been very good. However, it would be even worse if not for the big increase to tw...

Trade Strategy; China’s Feed Market

China’s imports of DDGS were up nearly 20 percent in June but still down 75 percent compared to the first of last year. They should be higher based on the...

Mexican Beef Imports Increase – Don’t Tell Trump!

Republican presidential nominee Donald Trump has proposed renegotiating NAFTA and other existing trade deals. His motivation is based on a belief that a co...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Market Commentary

Grain and soy markets traded in better volume overnight with mixed results. Soybeans were firmer, but the grains held unchanged to slightly lower. Soon aft...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Industrial Challenge; GMO Contrasts; Cuban Mirage; TPP Death

The two major U.S. presidential candidates, Clinton and Trump, could not kill the prospects for a lame-duck vote on the Trans-Pacific Partnership (TPP) by...

Black Sea Regional Analysis

Domestic milling wheat bids quoted by traders in Ukraine grew due to the slowdown in harvesting caused by rain as well as the low share of milling wheat in...

Mercosur Regional Analysis

The Brazilian soybean market has been reactivated for new crop. Fueled by the drop in CBOT soybean prices, buyers have been showing significant interest, a...

Market Commentary

The U.S. wheat futures market was reacting to a 4.50 euro decline in the spot Paris wheat futures contract after several days of price appreciation. The so...

Reducing Food Waste: Will It Impact Commodity Markets?

USDA and the EPA have targeted a 50 percent reduction in food waste by 2030, which is about 4.75 billion pounds (2.375 MMT) annually for the next 14 years...

EU Fast-Track; Glyphosate Review; Gastro-Defamation

A post-Brexit revolt by member states has forced Brussels into conceding a ratification process to national parliaments on the Canada-EU Trade Agreement (C...

Looking Ahead to the August WASDE

One feature during July has been the consistency of USDA’s weekly crop condition ratings for corn and soybeans. There is already considerable discussion ab...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Oilseed Highlights

It has been Vietnam’s rapidly increasing demand for pork, poultry meat and farm-raised fish that has driven the quick growth in demand for soymeal, corn an...

Middle East, Mediterranean and Africa Regional Analysis

Silo owners in Egypt are reportedly protesting that the committee tasked with investigating the government's local wheat purchases is totally incompetent...

More Things to Keep You Up at Night

Now that weather has faded from the market screens, there are other items to discuss. Among a few to start the week are shuttle train values, U.S. winter w...

China In-Country Analysis

An analysis of the Dalian monthly data for June compared with that from May shows that the markets for soybeans, corn and related products are experiencing...

Market Commentary

The soy complex was again under fairly heavy selling pressure to start this week. Meanwhile, corn had a narrow trading range today. Funds have liquidated t...

Veep Versus Veep on Agriculture

The two major party presidential candidates have now named their running mates, and both have distinct records as well as positions regarding agriculture.B...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Wrath for China; Convention Education; Trade not Harmful

Washington is known for lobbying, but the quadrennial U.S. political conventions are equally ripe targets for those trying to influence future policy direc...

Southeast Europe Regional Analysis

The French market will be very volatile in the coming days/weeks under the influence of the reported yields and quality as the harvest progresses to the no...

Ethanol Hits Record Output

Ethanol output jumped last week by 25,000 barrels per day (bpd) to a weekly average of 1.03 million bpd, setting a record for the second  consecutive...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Funds Give Up on a Weather Market

The spring rally in the soy complex, which dragged corn and wheat along, fit nicely into the La Nina weather scenario. Funds were very early to jump on tha...

Market Commentary

Funds were still holding fairly large long positions in soybean and soymeal futures, but they were heavy sellers in both today. Corn withstood that onslaug...

Indian Subcontinent Regional Analysis

Early this month, the United States sought trade sanctions against India after winning a dispute at the WTO regarding restrictions on imports of its poultr...

Bad Food for College

Canadian journalist and author Malcolm Gladwell has written some awesome books about life’s dynamics, but his latest correlation may be half-baked...

Oilseed Highlights

Today’s USDA export sales report indicated last week was good for U.S. soy. The sales suggest the U.S. will have excellent exports through the remainder of...

China Non-Market; SPS Cost; Cost of Non-GMO

The U.S. is hoping to negotiate with China on supply controls regarding steel and other products when the G-20 meets in September. Meanwhile, the EU says t...

Tales from Export Sales

This week's Export Sales report from USDA offers insight into the grain market's likely price pattern going forward. Based on historic export patterns, U.S...

China Drives Pork Expansion

While pork exports are down 6 percent from last year based on slower slaughter, those to China and Hong Kong increased notably during January-May with addi...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Market Commentary

It was a two-sided and rather quiet market, both during overnight trading and again during the day session. However, that is not to say there was no price...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Black Sea Regional Analysis

Russia's domestic grain prices dropped as they traditionally do at this time of year, supported by a higher average yield at this time, although corn price...

Mercosur Regional Analysis

All ports in Argentina are facing logistic challenges that stem from Monday’s strike by two popular trucker unions. Meanwhile, traders there are debating w...

Stall and BS; China Hot Seat

The U.S. and India began talks to resolve a dispute over poultry trade before Washington imposes $450 million in retaliation. However, prospects are not go...

Market Commentary

The overnight session started with a halfhearted effort by grain and soy futures markets to recover from yesterday’s beatdown. Trade was on both sides of T...

Ag Plank of the Republican Platform

Yesterday was the opening day of the Republican convention in Cleveland. Delegates there adopted the party’s latest platform, which included some highlight...

Market Commentary

After soy and corn prices recovered yesterday from deep early losses to close solidly higher, markets were unprepared for the unexpected rains and milder p...

Oilseed Highlights

There is no question of a potential decrease in China’s soybean imports next year due to several factors, including a change in its price support program f...

Middle East, Mediterranean and Africa Regional Analysis

13 African nations met in Tanzania to discuss ways of controlling aflatoxin, mainly with maize and groundnuts (peanuts). Much time was focused on the succe...

Is the Wheat Outlook Changing?

The wheat market has been immersed in such a bearish mentality for so long that it almost seems to have become a permanent condition. However, there are so...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Platform Jiu-Jitsu; Precautionary Kills

The Republicans struggled with writing the trade-related provisions of this year’s convention platform. That is because their presidential candidate is les...

Market Commentary

Markets opened lower Sunday evening with soybeans again leading the markets down. November soybeans traded as much as 24 cents lower overnight on continued...

Southeast Europe Regional Analysis

The Algerian OAIC bought 400,000 MT of EU wheat, paying around $198/MT CNF. Algeria is traditionally a captive market for French origin, but the French exp...

Massaging GIs; Entertainment, Not Policy

The latest Transatlantic Trade and Investment Partnership (TTIP) negotiations reportedly made progress in several areas, except on Brussels’ demand for Geo...

Egg Market Volatility

In less than one year’s time, eggs have moved from record-high prices due to the outbreak of highly pathogenic avian influenza (HPAI) to the lowest prices...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

China In-Country Analysis

China’s estimated soymeal inventories continued to climb nationwide last week, rising another 80,000 MT to a total 800,000 MT. Several factors caused this...

The Curious State of Wheat

There hasn’t been any positive or bullish news around the wheat markets for a very long time. Despite what appears to be overwhelmingly bearish U.S. and wo...

Weather and Yield Cushions

It is now at the mid-point of the growing season, and weather has been quite good. However, extended forecasts suggest a potential threat to yield cushions...

UK Upper hand; R versus D on Ag

The two major U.S. political parties generally find ways to take polarizing positions on everything, and that includes agriculture. UK Upper hand The Frenc...

Indian Subcontinent Regional Analysis

As India's domestic corn price remains higher than those on the world market, the country's 2016/17 corn tariff-rate quota (TRQ) of 500,000 MT was announce...

Does Monetary Policy Matter Anymore?

The conventional wisdom of the past eight years has been that without central bank action, the crisis of 2008-09 would have turned into a global depression...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Market Commentary

To say that weather markets are unpredictable is to state the obvious, but today’s whipsaw price action carried that to an extreme. Soybean futures prices...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Cage-Free Massachusetts

The Humane Society of the U.S. (HSUS) has proposed a ballot initiative for this November’s election in Massachusetts, which was approved by the state’s Sup...

The Next New Guessing Game

Weather market is a term most applicable during times when prices are driven primarily by fear of what an extended period of adverse weather conditions mig...

Oilseed Highlights

Senators Chuck Grassley (R-IA), Maria Cantwell (D-WA) and 12 others yesterday introduced legislation that would extend the current $1/gallon biodiesel tax...

TTIP Wall; GMO Happy; Dumbing Quality

EU officials have expressed frustration that their U.S. counterparts have been unwilling to match their market access offers for advancing the Transatlanti...

Market Commentary

Soybean futures prices were hammered into big losses when hints of improved weather prospects sent long positioned traders running for cover. Today’s volat...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Mercosur Regional Analysis

The rapid increase in Argentine corn export premiums continues as they climb to the mid-90s for August-October shipment. Typically, fast-rising premiums le...

Black Sea Regional Analysis

A downward trend continued to dominate the Ukrainian milling wheat market last week and also spread to corn. The main reasons for this were the growing off...

Fresh on Brexit; Ordering up Food

Venezuela's civilian leadership has tried vilifying the private sector food system, but that tactic failed to address shortages and food inflation. The per...

Market Commentary

Yesterday’s post-report rally continued in overnight trading with grains and the soy complex all posting gains. That same pattern continued again during th...

Oilseed Highlights

USDA’s WASDE report of today further tightened the soybean supply situation by boosting exports. It also raised its forecasts for soybean exports and crush...

The July WASDE

USDA's July WASDE  was released at midday, which included updates to its U.S. and world supply/demand estimates for 2015/16 and revisions to its proje...

Market Commentary

Today’s market action, particularly the late soybean rally, has more to do with the potentially adverse weather outlook than anything contained in the July...

Free Trade in Ag

The Heritage Foundation, a free-market think tank in Washington, DC, released a paper yesterday, “Promoting Free Trade in Agriculture,” which is part of th...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Middle East, Mediterranean and Africa Regional Analysis

Zimbabwe and Malawi are both expected to suffer a notable drop in this year's maize production. The deficit will be very difficult to source from neighbori...

Southeast Europe Regional Analysis

The Black Sea milling wheat market is under pressure as the harvest is progressing rapidly under favorable weather. It has dropped approximately $20 in abo...

Trade Policy Wall; Clinton versus Trump

Trade negotiations are going to be stuck for quite a while, and yet the status quo is an unfavorable situation. Trade Policy Wall TTIP: This week Brussels...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Ag Review: Trade, the Election, and the Future

Trade, the Election and the Future Renegotiating trade agreements and improving citizen understanding are necessary public policy goals. The Importance of...

China In-Country Analysis

Given that four state-owned enterprises are the primary producers of ethanol in China, the government has appeared to throw them a lifeline by allowing the...

USDA July Report Preview

Tomorrow’s corn numbers will almost have to be bearish. Meanwhile, the soybean outlook has clearly changed from a fundamental perspective after the world a...

Market Commentary

The extended weather forecast pushed soybean futures sharply higher to start the Sunday evening session. Corn and wheat were very reluctant followers, and...

Indian Subcontinent Regional Analysis

India has decided to increase the blending rate of ethanol in gasoline to 22.5 percent. However, the big question pertains to how this ethanol will be sour...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

The Power of Money (Again)

The collapse in the soy complex, corn and wheat in just two weeks has been nothing short of amazing. It started with another “Black Swan” event when Great...

India Retaliation; Politics over Science; NAFTA ROO

India has been blocking imports of U.S. broiler meat for nearly a decade, which was ruled illegal last year by a WTO dispute settlement panel. However, New...

Market Commentary

Soybean and soymeal futures took a real beating this week as funds reduced their long positions. It was a combination of better U.S. weather and weaker out...

Taxing Beans; Shuttering Democracy; UN Diktats

The World Health Organization is lamenting the fact that many governments have failed to employ marketing restrictions against foods deemed to contribute t...

Market Commentary

Overnight trading featured a strong rally effort by corn, which pulled wheat along as soybean prices fell under renewed selling pressure. Soymeal and soybe...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Putting the Brakes on Cage-Free Eggs?

When many major food services and several retail outlets made the decision to switch to cage-free eggs, the market was different than it currently is. Now...

Oilseed Highlights

The Canadian province with the fastest-growing soybean area in recent years has been Manitoba where it has expanded 103 percent since 2012. This has been m...

GMO Labeling Debate Never Ends

The prospect of facing a patchwork of state labeling requirements caused food companies to push Congress to pass national labeling legislation that would s...

Market Commentary

Soymeal futures did not need today’s expanded trading limits that resulted from yesterday’s limit down closes, but they did fall roughly $18 at session low...

Labeling Mess; Subsidizing Competitors; Trade Plan

Both the Vermont labeling law and the proposed federal labeling requirement pending in Congress are likely to lead to consumer confusion, but an equally ba...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Black Sea Regional Analysis

Domestic traders’ milling wheat bids in Ukraine decreased to $160-174/MT (3rd grade) and $150-169/MT EXW (3rd and 4th grades) with prices for the old harve...

Mercosur Regional Analysis

Long positions being held in the Brazilian soybean market are maintaining depressed levels on the offer side despite the big drop of CBOT. After falling al...

Campaign Issues; Farm Subsidies; GMO Rules

Trade has become a pivotal issue in the 2016 presidential election, but there is a sound argument that food would be a better target. Trade versus Food Tra...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Points of Interest

As is usually the case at this point in the U.S. summer growing season and with USDA's June reports as well as the Fourth of July holiday now in the past,...

Market Commentary

Macro weakness and favorable weather made a bearish combination for grain and soy markets. Even so, the soybean market’s gap down opening and subsequent co...

Middle East, Mediterranean and Africa Regional Analysis

Algeria’s purchases of French wheat are reported to be up 62 percent over last year. However, there are fears that the drop in its quality because of the h...

100 Years of Farm Bills

Although the new farm bill won’t be passed until 2018, a number of producer groups are already holding informal meetings in Washington, DC and elsewhere th...

Oilseed Highlights

South Korea is reported to have sharply increased its imports of soybeans and soymeal in the first eight months of MY 2015/16 as those of two other oilseed...

Indian Subcontinent Regional Analysis

The spot corn price at Gulabbagh (Bihar) was down 3.21 percent and the new crop delivery price fell in Uttar Pradesh on news that PEC Limited had been allo...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Renewable Energy Replacing Coal

According to EIA, the renewable share of energy consumption in 2015 was its largest since the 1930s. Meanwhile, the most significant decline of U.S. fossil...

Market Commentary

It was a much more subdued overnight trading session that ended with wheat, corn and soybean futures all lower.  More corn acres than expected in yest...

More Things to Keep You Up at Night

It appears that a large percentage of both the hard red winter and soft red winter wheat crops will have to either find a home in very long-term storage or...

Poppycock over UK Food; TPP Renegotiation

Nearly half the food consumed in the UK is imported, but it is poppycock to suggest that somehow the Brits now have a food security issue. Poppycock over U...

Market Commentary

Traders nervously awaited USDA’s June acreage and stocks reports, which have a considerable history of causing major price movements in grain and soy futur...

2015 Started New Cattle Cycle

A cattle cycle is a period when the nation’s number of beef cattle is alternately expanded and reduced for several consecutive years in response to perceiv...

U.S. Acreage and Grain Stocks

Every single number contained in today's USDA reports exceeded average trade expectations except for the one that is arguably of the greatest importance fo...

Oilseed Highlights

Even with soybeans offering a better profit opportunity, U.S. farmers seem to favor another crop, much like their counterparts in Argentina apparently do...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Generalized Malevolence Obsession

How else to explain the unending focus by critics against biotechnology than obsession with malevolence.How else to explain the unending focus by critics a...

Market Commentary

After mixed trade in moderate volume overnight, traders' wariness ahead of tomorrow's USDA reports led to some noncommercial selling during the day session...

Black Sea Regional Analysis

In a meeting with grain exporters on 28 June, Rosselkhoznadzor experts announced that the service believes certain changes need to be made in Yeysk and Tem...

Slapping Greenpeace; Trump Strategy; Ag Economy

Finally, some serious-minded intellectuals have decided to take action against the promoters of pseudoscience as a letter signed by 107 Nobel laureates has...

Mercosur Regional Analysis

Argentina still has some soybean cargoes available on July and August, and there will probably be some September as well. Today August is offered at 78 SQ,...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Middle East, Mediterranean and Africa Regional Analysis

White maize prices in South Africa continue to move higher as imports are just not able to keep up with local consumption levels, and stocks are reportedly...

Oilseed Highlights

Representatives of soybean producers from North and South America were in Brussels last week regarding  EU reapproval of the use of glyphosate (Roundu...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

30 June and 4 July

After being swept up in the geopolitical tsunami that resulted from the Brexit vote, grain and soy complex markets should return their focus to their own m...

Economic Uncertainty

The global financial markets are full of anxiety. As yields on 10-year U.S. Treasury debt dropped to 1.44 percent yesterday, close to the all-time low of 1...

Market Commentary

Grain and soy markets started out the overnight session a bit lower in response to continued favorable weekly corn and soybean crop conditions. However, th...

Global Food Philosophy; TPP Schedule; China’s Ills

The U.S. Congress is likely to pass the “Global Food Security Act” in final form legislation next month, which is intended to make permanent the Feed the F...

China In-Country Analysis

If Henan Province serves as an indicator for China, there should be significant changes in planted corn acreage this year and next as well as in the plante...

Dubious Experts; Insider Trading; Palm Tax Nut

French politicians have reversed their earlier proposed tax on imported palm oil, supposedly intended to promote biodiversity in Southeast Asia. However, t...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Will New Emission Standards Impact Long-Term Biodiesel Use?

One of the issues behind the blend wall for ethanol in the motor gasoline supply is the increased fuel economy standards that were passed at the same time...

Weather Remains an Issue

Soybeans took control again last night and today, trading sharply higher. No one could pinpoint the reasons for the big strength, although the daily export...

Southeast Europe Regional Analysis

One of the consequences of Brexit is the disappearance of offers for UK feed wheat, which had been the cheapest origin for the Spanish market. This has als...

Market Commentary

After recovering most of its losses last Friday, corn opened firmer Sunday evening in conjunction with the soybean market. Meanwhile, Brexit and the soarin...

Thoughts and Observations from a Wheat Conference

Many different opinions and ideas were expressed at a wheat conference this week, which generated a number of thoughts and observations. The hard red wint...

Brexited!!

The markets have pummeled the British pound in the wake of the UK decision, but the EU has some reasons to fear Brexit as it is losing one of the stronger...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Indian Subcontinent Regional Analysis

India has a mandate to use up to 10 percent ethanol in gasoline and was expected to reach a 5 percent blend rate by September 2016, but that may be in jeop...

Meaning of Brexit; RFS Quibble

Sometime in the future, nations will decide that globalization and integration have greater benefit for their people, and the negotiated reunion of nations...

Market Commentary

Grain and soy complex markets felt the pain from the Brexit vote even though the decision has virtually no effect on short-term supply/demand fundamentals...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Tales Spun by Export Sales

This week's Export Sales report from USDA offers insight into the grain market's likely price pattern going forward. Based on historic export patterns, U.S...

China’ Meat Consumption Recommendation

China's National Health and Family Planning Commission (NHFPC) has updated its dietary recommendations, but its view on meat consumption is contrary to the...

Oilseed Highlights

Brazilian Agriculture Minister Blairo Maggi yesterday indicated specific steps the government plans to take to boost supplies of soybeans and corn in order...

Market Commentary

Lowered weather concerns and a technically weak corn posture generated broad-based selling across the grain and soy board. It started overnight for corn an...

GMO Label; Natural; Food versus Fuel; Ergot

Lawsuits challenging foods labeled as natural when there are pesticide residues present open up a large can of worms. Biotech Labeling Compromise The biote...

Market Commentary

After the beat down of the past two days, grain and soy futures markets took a consolidating pause today. As expected, prices traded lower on follow-throug...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Mercosur Regional Analysis

Soybean demand in Brazil suddenly decided to cover all the shorts due to the lack of farmer selling, and basis is rising nonstop. August was trading at +11...

Brexit Informs Much; One-Sided Transparency

According to polling in Britain, the Leave or Brexit campaign is largely supported by older, lower-skilled workers. By contrast, the Remain or Bremain posi...

Black Sea Regional Analysis

Ukraine's milling wheat prices decreased slightly because of a more stable national currency and slightly lower export prices. Feed wheat and barley prices...

Market Commentary

The theme of risk reduction was established early during the overnight session, and it dominated the market as the day session opened. Several factors led...

Middle East, Mediterranean and Africa Regional Analysis

Jordan has revised its wheat tender terms in order to attract more participants. It has raised the sunn pest (suni pest) allowable levels and will apply US...

Oilseed Highlights

The voracious appetite for meat has been the greatest driver of soymeal demand in the last 25 years. Now the Chinese government seems to have decided that...

Market Crosswinds

There are many different pressure points facing fund managers these days, and they are stirring up crosswinds for grain and soy markets.Grain and soy futur...

Knowing Quality; Jobs and Protectionism; Meat Morals

EU Agriculture Commissioner Phil Hogan tried to reassure farmers that protecting geographical indicators (GIs) in international trade negotiations is a top...

Congressional Hearings of Interest to Agriculture

The House of Representatives has 18 committee hearings scheduled for tomorrow. At least five are of interest to agriculture, which include topics related t...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Market Commentary

Markets opened sharply lower Sunday evening. Corn actually lost more ground today, likely the result of a more or less benign weather forecast as the all-i...

Rules of the Road; Miscellaneous

Treasury Secretary Jack Lew criticized China for imposing restrictions on U.S. businesses that are making it more difficult for them to operate in the Midd...

China In-Country Analysis

The restrictions that China’s central government imposes on the stock exchanges have probably unintentionally encouraged speculators and instant wealth see...

The Savior Rally

The big rallies in corn and soybeans since late March have been met with a huge sigh of relief from U.S. farmers and agricultural bankers. Farm meetings la...

Southeast Europe Regional Analysis

The extremely tight old crop situation and strong rally of the CBOT corn futures during the last five weeks have stopped the farmer selling in the Black Se...

Insights from Consumer Food Spending

This week the Census Bureau released the May 2016 U.S. retail sales data. This marked the 14th consecutive month that food service has outsold the grocery...

Market Commentary

The multi-day collapse in soy complex prices ended overnight with higher trade in soybeans and soymeal, and that strength dragged corn and wheat along as w...

Summer Weather

Market chatter has been somewhat obsessed since last winter with the potential El Nino/La Nina shift and the potential ramifications this might have for cr...

Indian Subcontinent Regional Analysis

India's retail inflation reached a 21-month high of 5.76 percent in May 2016, largely fueled by protein demand, espcially for pulses. The expected good mon...

Better Ag Policy; Nothing Changes; Meatless; Energy Economics

The International Resources Panel, launched by the United Nations Environmental Program (UNEP), has issued a report quantifying that one-third of the world...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

An Economic Stress Test

One of the most alarming aspects of the current situation is that eight years of extraordinarily loose monetary policies have been unable to put national e...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Oilseed Highlights

The National Oilseed Processor Association’s (NOPA’s) soybean crush report of yesterday indicated its members had the largest May crush ever, driven by goo...

Livestock, Dairy, and Poultry Outlook

USDA released its monthly Livestock, Dairy, and Poultry Outlook report today, which showed herd rebuilding is having an impact on the beef cattle market. I...

Market Commentary

Grain and soy markets spent the day mired in the red. At their lows, corn futures were down at least 9 cents, soybeans were off around 30 cents and soymeal...

Deadly Hyperbolism; Chem-Free Farming; Sugar Tax Failure

After a nearly three-year delay, the EU Commission has issued criteria for identifying endocrine disruptors. Significantly, the specific potency of the dis...

Market Commentary

The overnight session saw grain and soy prices work both side of yesterday’s closes, although they were slightly firmer as the trading recess neared. Led b...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Black Sea Regional Analysis

Domestic grain prices in Russia  increased for almost all crops because of the tight deficit of stocks. Meanwhile, they were mostly stable in Ukraine...

Mercosur Regional Analysis

Brazil cannot sell any more deferred soybeans, and some of the recent market trades for July and August were just washouts or short covering. Meanwhile, Ar...

Risky TTIP Conclusion; Future of Agriculture

While the European Parliament followed the advice of activist Olivier De Schutter in rejecting the use of intensive, conventional agriculture in Africa, G-...

Middle East, Mediterranean and Africa Regional Analysis

Maize prices in Kenya have been moving higher as import supplies have become increasingly more difficult to source from neighboring countries. They have re...

Weather, the Fed and Brexit

Four months ago, there were quite a few complaints about the lack of market volatility. Has this glum outlook really changed for the better? Obviously, the...

Market Commentary

Grain and soy prices weakened in active overnight trading. The theme of lower prices carried over into the day session, and long liquidation became more wi...

House Ways and Means Committee Looks at Ag Trade

The recent U.S. ITC report on the TPP identified agriculture as one of the sectors that will benefit the most. The House Ways and Means Committee’s Subcomm...

Oilseed Highlights

The head of Argentina’s Ministry of Agri-Industry yesterday indicated the government was very close to reaching a deal with Monsanto regarding the inspecti...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Latest RFS Reform Plan Targets Fuel Side of Equation

The total blend of ethanol in the fuel supply in 2016 is about 10.1 percent based on the ethanol volume of 14.5 billion gallons.  If set at 9.7 percen...

Organic Chemical Burden; Trade Rules

Big Ag continues to play defense and thus gets beaten regularly in its battle against antagonists. The latest black eye was delivered by 47 Green Party mem...

China In-Country Analysis

Weekly data from the Dalian Exchange confirms the trend in soymeal that began in early May has now weakened as investors take profits. Through today, the s...

Market Commentary

Soybeans ripped sharply higher on the opening Sunday night based on less-than-expected weekend rainfall. That early rally was the high for the night and al...

More Things to Keep You Up at Night

The outlook for U.S. soybeans has undergone a quick and remarkable change over the past three months after being decidedly bearish in February and early Ma...

USDA Reports

The U.S. winter wheat production estimate was 6 percent higher from the May number. That is a significant increase, all in hard winter wheat, and justified...

Market Commentary

There appears to be no stopping the soybean train yet. This is the ninth week in a row of higher soy complex trade and, by some accounts, the longest rally...

Indian Subcontinent Regional Analysis

Farmers do not wish to grow soybeans in 2016/17 for many reasons, including low prices and a lack of good seeds as well as fear that the excessive rains fo...

Write with Clarity; Slap the DR

Momentum is supposedly building in Congress to fully liberalize economic engagement with Cuba. Meanwhile, the president’s Export Council (PEC) has pondered...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

EPA Holds Hearing on 2017 RFS Proposal

The U.S. EPA held a public hearing in Kansas City yesterday to receive comments on the 2017 proposed Required Volume Obligations (RVOs) for biofuels under...

Stone Age Starvation; All Politics

In the U.S., regulators with a scientific background weigh the approval of new drugs and chemicals. In the EU, it is left up to politicians and the sway of...

Oilseed Highlights

One of the advantages Argentina has had in the last year in exporting soybeans, soy products and other agricultural commodities has been its weak currency...

Ag Review: The Global Livestock Industry

Issues Plaguing the Meat Industry From animal welfare to meat substitutes, the livestock sector faces many challenges. U.S. Meat Exports and the TPP The U...

PEDv in Manitoba

After 16 months of no additional incidents of Porcine Epidemic Diarrhea virus (PEDv) in the province of Manitoba, authorities are confirming three new case...

Market Commentary

Prices for the grains and soybeans turned a bit lower overnight in much quieter trade. The day session faced a more diverse set of inputs. General Comments...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

World Food Security Update

Defining and quantifying world food security is difficult, to say the least, but there is at least one significant effort to do so. Since 2012, the DuPont-...

Black Sea Regional Analysis

Grain prices at the Ukrainian ports rose during the week in review because of limited offer, but that should be a short-term trend. According to forecasts,...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Mercosur Regional Analysis

The South American soybean market showed some movement in the first week of June. In Argentina, trades were made at levels of 49 SN for June shipment and 6...

Market Commentary

Price action in the grains was rather quiet and mixed, leading to small gains overnight while the soy complex worked its way higher. Soybeans and soymeal t...

China’s Offer; Cage-Free Hurt; Trump and Brexit

The Obama Administration will spend $16.8 million to encourage healthier food purchase decisions by SNAP recipients. However, a notable food assistance dev...

Middle East, Mediterranean and Africa Regional Analysis

According to reports in Egypt, the price for local poultry, the main consumers of corn and soymeal, has grown 25 percent in recent weeks. While some source...

War on America; War on Salt; Subsidies to Pollute

The European Commission once again failed to achieve agreement by a qualified majority to provide a temporary extension for the approved use of glyphosate...

Ethanol: Exports Help Scale Blendwall

Through the first quarter of 2016, domestic ethanol use totaled 3.4864 billion gallons or 83.01 million barrels. Until higher blends can circumvent the ble...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Oilseed Highlights

Although India expects to produce a larger soybean crop in 2016, its protein meal exports continued to drop in May as a lack of supply and high prices made...

Market Commentary

The overnight session was considerably less frenetic than Monday’s with corn, wheat and soybeans trading both sides of yesterday’s closes on about half the...

A Few Random Thoughts

This is a particular time on the crop cycle calendar when there is a multitude of crop and market-related possibilities floating around but very few factor...

Southeast Europe Regional Analysis

The corn market in the Black Sea is extremely firm due to the CBOT futures rally and slow pace of farmer selling. Corn is now at an approximate $10-15 prem...

China In-Country Analysis

The producers' price for soyoil (grade 4) averaged RMB 6,268/MT (approximately $952.70/MT) last week, up RMB 142/MT ($21.60/MT) from the previous week and...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Commodities Back in the Lead

It’s far too early to say the bear market is dead. It is interesting, however, to watch how some of these commodity markets have exploded higher without an...

Ethanol and Crude Oil Shipments from the Midwest

Most crude oil, ethanol and biodiesel rail shipments in the United States originate in the Midwest (PADD 2). While only a relatively small percentage of cr...

Market Commentary

Markets started strong Sunday evening and finished that way with soybeans and soymeal again leading the way. The buying accelerated at today’s opening with...

Sugar War; Mixed on Quotas; Other Briefs

Policy can have a great impact on markets, as shown by the current multi-prong attack on sugar. Some say this will be a huge benefit to artificial sweetene...

Market Commentary

It was another day of volatile price action in the soy complex. This time around, much of the market’s strength occurred during the overnight session. Mean...

Skimming Pockets; Notable

The Organic Trade Association issued a study showing that income was higher and poverty lower in the 225 counties with significant organic food production...

Funding for USDA Loan Programs an Issue

According to a recent Federal Reserve report, prices were below breakeven for a number of commodities in the Corn Belt. It also indicates that credit condi...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

The March is On

No market has attracted as much attention over the past few years like the soy complex has in recent months. One of the slogans of a very successful colleg...

Indian Subcontinent Regional Analysis

The Cabinet Committee on Economic Affairs (CECA) has approved an increase in the Minimum Support Prices (MSPs) for all 2016/17 kharif crops. While pulses h...

Market Commentary

It was another blowout kind of a day for the soy complex with grain futures attempting to follow. Once again, overnight trading and price action provided l...

What is Weather Worth?

Although this bull market has been driven at least in part by speculative money from noncommercial traders, it could not have survived as long and as stron...

Oilseed Highlights

A European environmental group, Transport & Environment (T&E), claims the EU biodiesel industry has sharply increased its usage of palm oil as a fe...

Bigger than TTIP; Milk Fight; Beer Fear

While Washington and Brussels are blaming one another for the lack of progress in the Transatlantic Trade and Investment Partnership (TTIP) negotiations an...

GAO to Investigate Cattle Market

The GAO announced yesterday that it has accepted the Senate Judiciary Committee’s request, spearheaded by a letter it received in January from R-CALF USA,&...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Topsy-Turvy; CAP 2020; Mad Meat Blockades

The EU has opened debate on the next (2020) iteration of the Common Agricultural Policy, and some want it to look more like U.S. policy. Topsy-Turvy Politi...

Mercosur Regional Analysis

Brazil’s soybean market keeps heating up with the basis showing a regular daily increase as the old crop offer is being reduced due to the very negative or...

Market Commentary

The placid overnight trading pattern was quickly cast aside as the day session opened. Renewed fund buying and bull spreading of soybeans and then corn qui...

Black Sea Regional Analysis

Russia's domestic grain prices continued to rise due to the decreasing stocks and offers of  the 2015 production. However, barley prices started dropp...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Vague Law; Leap; Fool’s Gold; Commoditization

Greens and others in Canada have dreamed up what is termed the “Leap Manifesto,” which they contend would move society closer to utopia, and their aspirati...

World Soybean Outlook for 2016/17

WASDE projections of record-large world production in 2016/17 still leading to an 8 MMT reduction in ending soybean supplies painted a tempting picture for...

Supreme Court Rules on WOTUS

The Supreme Court weighed in today on the Waters of the United States (WOTUS) wetlands regulatory rule. At issue was whether final agency action by the Arm...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Middle East, Mediterranean and Africa Regional Analysis

USDA FAS published a report this week on the Egyptian program of land reclamation. The report points out that if the planned 630,000 hectares of desert are...

Oilseed Highlights

Brazil’s farmers would be expected to sharply boost their soybean plantings in the upcoming crop year as a result of the high prices. However, they may be...

Market Commentary

Market bulls are receiving no help from the weather outlook, and the generally softer prices seen during most of the day session are a sign of that. The ab...

Market Commentary

Markets were relatively quiet today. USDA announced the sale of 100,000 MT of soymeal to unknown. That was enough to generate light fund buying that held s...

U.S. Corn and Soybean Export Objective Too Small

There is no question that U.S. corn and soybean exports will be greater than anticipated even a month ago in USDA’s May WASDE, largely because of some sign...

Foodsuasion; Risky Purchase II

A key hindrance to the EU extending the approved use of glyphosate in Brussels is coming from German politicians. They do not accept the opinion of Europe&...

Corn Shortage in Brazil Impacting Livestock and Wheat

Several factors have contributed to Brazil's bullish corn market, squeezing chicken and hog producers. In turn, this is having an impact on wheat prices th...

Indian Subcontinent Regional Analysis

India’s pulses demand is close to 24 MMT with current production stagnant at about 17-18 MMT, leading the country to be a net importer. Now Canada, Austral...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Commodity Speculation and the Real World

The Dow Jones-UBS Commodity Index was up about 10 percent during the 5 April-25 May period with much of that increase due to soybeans, meal and corn. The p...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Market Commentary

It was another see-saw type of day for grain and soy markets that started out higher across the board during an active overnight session. Wheat was the unl...

USDA to Re-Propose GIPSA Rule

The rule was first proposed in June 2010, per congressional direction in the 2008 Farm Bill. Specifically, Congress directed USDA to look at five issues re...

Brexit Blunder; Quotas

A British decision to leave (Brexit) the European Union may or may not lead to more positive outcomes in terms of the country’s economics or domestic harmo...

Oilseed Highlights

The rich countries of Europe along with some developing nations in Asia and Africa continue to oppose the planting, and in some cases the consumption, of G...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Market Commentary

Both the soybean and soymeal markets rallied overnight as the Dalian soymeal market prices stabilized amid another session of record trading volume. Undoub...

Mercosur Regional Analysis

The corn situation in Argentina is not improving yet, and some are starting to think that the lineups will not ease until at least the end of July. Meanwhi...

Black Sea Regional Analysis

Milling wheat prices started decreasing at the Ukrainian Black Sea (UBS) ports, mainly due to the exhaustion of export potential and the resultant lower de...

Fishy Cat Fight; EU for TTIP; Blame Shifting

The U.S. Senate approved (55 to 43) a measure today that would end USDA’s inspection of imported catfish and move the responsibility back to the FDA from w...

Market Commentary

Everyone likes a little market excitement, but the back-and-forth price swings experienced today pushed the needle on that meter higher than it has been fo...

Middle East, Mediterranean and Africa Regional Analysis

For the past few years, Egypt has been one of the top two importers of U.S. 60 percent protein corn gluten meal (CGM). However, the sudden rally in those p...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Dairy a Winner Under the TPP

The U.S. dairy sector is a big winner under the Trans-Pacific Partnership (TPP), according to the recently released analysis of the agreement by the U.S. I...

U.S. AB Repeat; Unsustainable Demand; Xenophobes for the TPP

The EU reportedly described the U.S. effort at blocking an additional term for Korean Seung Wha Chang on the WTO Appellate Body as “unprecedented,” and Jap...

World Corn Outlook for 2016/17

USDA's projections for world corn production and consumption in 2016/17 are similar in pattern to those for 2015/16. However, there is a wild card in that...

Southeast Europe Regional Analysis

New crop (July/August) feed wheat is offered at $170 FOB in Ukraine and Bulgaria. Bulgarian origin has a €12 advantage over the Ukrainian to EU destination...

Ethanol Roundup

The U.S. EPA is looking at “several changes” to the Renewable Fuel Standard (RFS) in order to “resolve outstanding issues” and “provide clarification” on i...

Excessive Rain More of a Concern Today

The eastern Corn Belt struggled early with cool temperatures and wet conditions that delayed planting progress. May has been drier, though, and parts of th...

China In-Country Analysis

While apple shipments to China pale in value and volume compared with other commodities, they are an important proxy for value goods as this fruit is a pre...

Market Commentary

Soybean futures were down as much as 20-22 cents at mid-morning, and that weakness in the soy complex kept wheat lower all day. Meanwhile, corn was very re...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

AB Politics; Government Money; Exporter of Death

A draft EU-backed study of the Transatlantic Trade and Investment Partnership (TTIP) oddly concludes that the pact will actually raise the cost of food and...

Market Commentary

It was a very active night session with soymeal setting new highs in the July contract, trading $8-10 higher. That had soybean futures 12 cents higher with...

Indian Subcontinent Regional Analysis

While India continues to import large quantities of palm oil, considered unhealthy by many and mostly used domestically as a base for mixed vegetable oils,...

Snapshot of Credit Situation

There are plenty of worries about credit access and conditions in the agriculture sector. The Senate Agriculture Committee held a hearing yesterday on the...

Weather and Yields

Summer weather and yield potential will be next on the market’s agenda, and there has been much hype about the shift in weather patterns from El Nino to La...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

March of Luddites; Shallow Politics

 It is easier for politicians to embrace a false perception of the past than to work on a policy approach whereby productivity gains and its associate...

Oilseed Highlights

Private analysts in Argentina indicate that country will not be able to meet its soybean export commitment in the current marketing year because it lacks a...

RFS Proposal Impacts Feed

U.S. EPA’s  2017 proposed Required Volume Obligations (RVOs) for the Renewable Fuel Standard (RFS) implies a likely  increase in conventional&nbs...

World Trends

The ebb and flow of world trade of grains and oilseeds is one of the more important determinants of domestic prices in major producing and exporting countr...

Market Commentary

Grain and soy markets took little notice of the Fed’s bullish influence on the U.S. dollar yesterday, but that was not the case as the day session got unde...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Black Sea Regional Analysis

Wheat (milling and feed) and corn prices continued to rise in RUB expression at the Russian grain market, although at a higher rate than previously. They a...

ITC on TPP; EWG Hag; Bear View

The supply side looks a mess as agricultural production outpaces demand. Rabobank even notes the expansion in poultry production by non-traditional supplie...

Market Commentary

It can’t be said that the increased prospects of a Fed interest rate hike in June had any real impact on grain and soy markets today. Prices were slightly...

Mercosur Regional Analysis

Origination has become very expensive for soybean exporters in Argentina. The FAS market keeps climbing as farmers are not eager to sell aggressively. In t...

ITC Prompts TAA; Glyphosate Safe Again; Regulatory Coherence

Tomorrow is the day that the U.S. International Trade Commission (ITC) is expected to issue its impact analysis of the Trans-Pacific Partnership (TPP) agre...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Oilseed Highlights

Monsanto today announced it has suspended sale of future biotech soybean technologies in Argentina because of recent, disappointing discussions with the go...

World Soybean Outlook

USDA’s world 2016/17 soybean supply/demand projections provide a good benchmark from which to weigh potential, real changes in both. The soybean market see...

Middle East, Mediterranean and Africa Regional Analysis

Millers and grain traders in Zimbabwe have set a minimum purchase price for local maize of $335/MT, which is lower than the $390/MT that the government has...

Blairo Maggi New Brazilian Ag Minister

During his political career, Maggi made waves by supporting President Lula’s re-election because of the latter's commitment to growing the soybean industry...

Market Commentary

The current mood of grain and soy futures markets seems mainly unaffected by details of planting progress and beneficial weather as today’s price action de...

More Things to Keep You Up at Night

The U.S. hard red winter wheat crop is likely getting larger. Barring a wet weather pattern during the harvest period, the last issue is what the market ca...

Market Commentary

Markets traded lower much of today’s session. It seemed at times that they could make a significant move lower, but that sharper break just never happened...

Farm Dust; New Rules; Pick a Veep

NASA has combined with Columbia University to produce a study (Geophysical Research Letters), which claims that fine particulate matter from food productio...

Voter Crop Insurance Poll

With the possibility of an ag appropriations bill markup this week in the Senate and discussion already started about the next farm bill, National Crop Ins...

China In-Country Analysis

While China's President Xi is driven to implement economic and agricultural policy reforms that will deleverage the Chinese economy and take away the loose...

Southeast Europe Regional Analysis

France’s exports to non-EU destinations have significantly increased during the last month as its wheat is competitive against Black Sea origins. Algeria b...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Risky Reading; Risky Purchase

The publication Consumers Report (CR) has long been depended upon for objective information about products for purchase, but it has become an unreliable so...

Bill Proposed to Cap Ethanol under 10 Percent Blendwall

On Tuesday 10 May, House Representatives Bill Flores (R-Texas), Peter Welch (D-Vermont), Jim Costa (D-California), and Robert Goodlatte (R-Virginia) introd...

Big Production and Big Demand

While the May USDA WASDE numbers projected another season of record or near-record yields and production, there are implications for the margin of error be...

Market Commentary

Corn and wheat futures traded higher most of today’s session as the soy complex continued to struggle. Better harvest weather in Argentina coupled with mor...

Indian Subcontinent Regional Analysis

Corn prices continued to be down during the first few weeks of the harvest in Bihar, but they have been moving up as demand increased once industries reali...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Grain Stocks Mythology

The concept of holding stocks of grain that can be used during times of need has a nice humanitarian ring to it. It only becomes a good deal less appealing...

USTR to Challenge China over Chicken

The U.S. Trade Representative’s (USTR’s) office announced on 10 May that the U.S. will challenge China over its failure to bring its duties on U.S. chicken...

No Natural at All

The U.S. FDA has collected public comments and now must decide what the term “natural” means on a food label.The U.S. FDA has collected public comments and...

Market Commentary

Grain and soy complex prices firmed in overnight trade with the complex getting a big boost from the surging Dalian (DCE) soymeal contract, which closed up...

Oilseed Highlights

USDA is initially forecasting Brazil’s and Argentina’s soybean harvested area in 2017 will increase by 900,000 hectares and 50,000 hectares, respectively...

Market Commentary

Markets were considerably more relaxed today amid consolidating trade that saw both sides of yesterday’s closes before finishing mostly lower. However, tod...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

Snookering Public Stockholding

WTO members committed in the Nairobi Ministerial declaration to create a rule regarding a government’s right to use stockholding for food security purposes...

Black Sea Regional Analysis

Ukraine's milling wheat prices increased slightly as did corn prices at the UBS ports due to export reasons. The milling rye market there remained stable a...

Mercosur Regional Analysis

The corn situation in Argentina is generating big losses throughout the entire chain. It started with farmers not harvesting and thus not delivering to por...

Oilseed Highlights

Monsanto today lowered its forecast for U.S. plantings of its Roundup Ready 2Xtend soybean this year from 3 million acres to 2 million acres. U.S. processo...

Middle East, Mediterranean and Africa Regional Analysis

U.S. corn exports to North Africa/Africa in the first quarter of 2016 are down 75 percent versus 2015, mainly due to reduced business with Algeria, Morocco...

Salacious Hamburger Study Could Follow Hot Dog Study in Media

Last October, the company Clear Labs of Menlo Park, California released the findings of its investigation into the molecular makeup of hot dogs. Industry s...

The May 2016 WASDE

This is always one of the most interesting of USDA’s monthly supply/demand reports as it is the first to provide the agency’s views of the next crop year a...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices...

F Bombs; Stiffing; Currency Manipulation; Market Forces

Beijing wants the U.S. to concede to China the status of being a “market economy” under the rules of the WTO, but it has a funny way of trying to sway Wash...

Market Commentary

The May WASDE with its first peak at supply/demand for the next crop year has a history of generating futures market volatility immediately following its r...

USDA Report Preview

These reports will set the tone for the markets until and unless weather changes the dynamics of the yield estimates, but USDA's corn and soybean productio...

Market Commentary

Last week’s unexpectedly big hard red winter wheat yield forecast from the wheat tours kept pressure on wheat again today. The big rally in the U.S. dollar...

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