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Red Meat Production and Trade; New EPA Administrator

While red meat production levels are staying at near-record to record levels going into the last month of the year, there has also been a notable change in...

Oilseed Highlights

USDA recently released its annual long-term projections for major crops, and those for soybeans can be justifiably challenged for several reasons. USDA’s L...

Slow Demand; Tricky Appointments; U.S.-EU; Dumping

Brussels is close to a free trade agreement with Tokyo, but the question is whether it will provide much of a boost to either economy. This is partly answe...

China In-Country Analysis

The average domestic corn price in China retreated even further in the first week of December, dropping RMB 11/MT ($1.60/MT) to RMB 1,689/MT ($245.50/...

Market Commentary

Soybean and grain prices were little changed in overnight trading even though Dalian meal and soyoil futures continued their upward trek. Trading was also...

Black Sea Regional Analysis

Ukraine's grain production is projected to show an increase in 2016, but the problems that  traders have had transporting stocks to the seaports conti...

Closing Futures Prices

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

Creating a Trend; Trade and Tax Policy

With low prices now burdening growers, researchers are calculating what tweaks can be made to extract something additional from the market. However, there...

Closing Futures Prices

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

Oilseed Highlights

The  government  of Ukraine plans to boost its efforts to prevent local farmers from planting GM soybeans. While no such soybean varieties have b...

China’s Continuing Corn Conundrum

Chinese corn reserves were built up over many years as a result of government efforts to support domestic corn prices. It is now attempting various approac...

Middle East, Mediterranean and Africa Regional Analysis

In light of recent action taken by Egypt's government regarding a certain tax together with the need to purchase feed ingredients, medicines, etc. from out...

Market Commentary

In overnight trading, soybeans continued to build on Monday’s gains with fuel provided by higher prices for Dalian’s soymeal and oil as well as another sto...

Who Will Run a Trump Administration USDA?

President-elect Trump has not yet picked a nominee to lead USDA, which is likely to be producer-friendly. However, the list of potential names remains leng...

Commerce Department Reviewing Sugar Agreement with Mexico

With a renegotiation of NAFTA high on the incoming Trump administration’s agenda, a new Commerce Department investigation may tee up sugar as one of the fi...

Southeast Europe Regional Analysis

Ukrainian corn is offered at $165/MT FOB for December-February, which is roughly in line with U.S. stocks on a CNF basis to the main destinations in the Me...

Soybean Demand Not Slowing

The soybean analysis of last Friday (see Ag Perspectives, 2 December) discussed the role of emotion as a driver of the soy complex, but another factor is r...

Market Commentary

Expanding concerns about hot, dry weather across parts of Argentina gave the soy complex new life Sunday evening after last week’s losses, and then a devel...

Mercosur Regional Analysis

Brazilian farmers’ soybean sales have been significantly delayed this year due to a stronger real and weak CBOT. In the past few weeks, though, CBOT has be...

Closing Futures Prices

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

Taiwan as Leverage; Bitter Spring with Mexico; Trump Gauge

The media initially accused Donald Trump of amateurism for talking to the Taiwanese president in violation of a 40-year-old protocol. It turns out, though,...

Not Much Can Stop the Soybean Market

If there has ever been a market that has begged  to be sold over the past year or two, it is soybeans. In fact, most participants did exactly that, an...

Market Commentary

Markets were mixed to slightly lower early in last night’s session, but they were trading steady to higher at the opening this morning. Corn traded higher...

Closing Futures Prices

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

Indian Subcontinent Regional Analysis

While India’s gross domestic product (GDP) was at a high of 7.3 percent in the second quarter, it is likely to be negatively impacted in the third and four...

Rearview Mirror Policy; Foreign Aid and Trade

A common flaw is for new farm policy to be drafted based on immediate past market experience, and that is particularly true for dairy. A key agriculture ad...

Market Commentary

Perhaps today’s market dynamics can best be described by the fact that Chicago and KC wheat futures prices posted yet more contract lows while soyoil contr...

Closing Futures Prices

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

Campaign Promises and Reality

Although President-elect Trump often railed against the Dodd-Frank legislation as a candidate and promised to do away with it, a full repeal is not likely...

Truth Revealed; Diverging Transatlantic Emissions

Pedro Marcilio of the Brazilian firm Participacoes SA admits that U.S. government funds have been used as production loans for Brazilian cotton farmers. No...

Closing Futures Prices

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

Election Impact on the Farm Bill

A Farm Foundation debate today on prospects for the next farm bill, post the election of Donald Trump, brought much enlightenment and a variety of opinions...

Black Sea Regional Analysis

Although Russian grain exports have been lagging behind last year's level, the November volume is expected to show notable growth versus the same month las...

China In-Country Analysis

Given certain developments regarding soymeal and soyoil in November, some stockpiling in the near term makes sense. Nonetheless, the massive turnover and s...

Market Commentary

Grain and soy complex markets traded mostly higher during the overnight session, helped along by the macro impact of the OPEC agreement to cut production a...

Middle East, Mediterranean and Africa Regional Analysis

The Egyptian government forecasts local aquaculture production, which currently meets 80 percent of the country’s consumption demand, will increase 35 perc...

Gleanings from USDA’s Baseline Projections

Each year since 2000, USDA has produced baseline reports that project U.S. crop acreage and supply/demand balances for wheat, corn and soybeans for the 10...

Closing Futures Prices

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

Oilseed Highlights

The inability of farmers to use neonicotinoid insecticides along with poor weather in some areas resulted in EU rapeseed production falling 10.6 percent fr...

Natural Gas Overview

Warmer winter weather last year and to date this year is driving higher-than-normal natural gas storage inventories despite demand from the power sector, a...

More Beatings; China Retribution; Zombies

Mexico’s Finance Minister José Antonio Meade correctly warns that an overplayed effort to rewrite NAFTA would hurt the U.S. economy and not just his countr...

Market Commentary

After trading higher for the last seven trading days, during which the January soybean contract jumped 70 cents higher, the market finally turned in overni...

Southeast Europe Regional Analysis

The Black Sea milling wheat market was again firm last week on slow farmer selling and exporters’ short covering. The pace of exports from Russia remains t...

Mercosur Regional Analysis

Wheat quality has been an issue in Argentina for many years, spanning the entire supply chain. One problem is that many farmers don't know the quality of t...

Perhaps Politics Should Be Watched Instead of Weather

It’s beginning to look like national elections around the world will be as important to the direction of the markets as weather forecasts. With several loo...

Trade and Tax Policies Collision

Donald Trump complained about inequitable international tax systems during the campaign, and now congressional Republicans are entertaining a solution. How...

Closing Futures Prices

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

Strange Year in Politics

Surprise election outcomes in the U.S. and Europe as well as political chaos in South America have set the stage for potentially volatile foreign exchange...

Market Commentary

January soybean futures soared to gains of 18-19 cents last night before collapsing and trading lower at 9:30 A.M. this morning. However, that weakness was...

Losers Pay; Message Received; Arbitrary Standards

The WTO has several problems, but an important one is its understaffed, overworked Appellate Board (AB). While two new judges have recently been appointed,...

More Things to Keep You Up at Night

While the expanding dryness that is starting to affect the 2017 U.S. hard red winter wheat production region has been covered in analysis here this week, t...

Indian Subcontinent Regional Analysis

Wholesale wheat prices in New Delhi, the country’s key market, surged to Rs.23,916/MT ($346/MT) on 18 November from Rs.18,858/MT ($281/MT) on 18 October. T...

Market Commentary

Soybean futures continued to set new highs for this postharvest on more evidence of no slowdown in export demand. However, it was a different story for cor...

Closing Futures Prices

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

China In-Country Analysis

After an extremely slow start to 2016 and a modest recovery in the spring, U.S. food and agricultural exports to China have recovered nicely as a result of...

China; More China; Food Fallacies; Inequality

Senate Agriculture Committee Chairman Pat Roberts (R-Kansas) told Agri-Pulse to “Show me a nation that cannot feed itself, and I'll show you a nation in ch...

Black Sea Regional Analysis

While oilseed prices in Russia showed growth on average in the past week, those in Ukraine exhibited a different pattern in both the domestic and export ma...

EPA Announces Final Biofuel Volumes

The U.S. Environmental Protection Agency (EPA) today finalized the 2017 Required Volume Obligations (RVOs) under the Renewable Fuel Standard (RFS) for over...

Closing Futures Prices

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

Market Commentary

The Pre-Thanksgiving futures market rally did take place, but it ws not in the way traders had imagined. The EPA surprised by announcing its final Renewabl...

Oilseed Highlights

A draft proposal submitted to the EU Commission recommends a 50 percent reduction in the use of biofuels in the transportation sector after 2020. This is b...

Soybean Market Exuberance

Yesterday’s soy complex market performance had many market watchers wondering what was going on. The clarity of hindsight suggests that the rally resulted...

Middle East, Mediterranean and Africa Regional Analysis

Researchers in Kenya have said that planting GM maize could save up to $90 million annually in crop losses as well as lead to an additional production of 4...

Trump and Trade; China’s Designs; Climate Flip-Flops

Donald Trump says he will withdraw the U.S. from the Trans-Pacific Partnership (TPP) on day one of his presidency and instead "negotiate fair, bilateral tr...

Market Commentary

It was once again a mostly green day of trading for grain and soy futures with soybeans and soymeal leading the way. The principal exceptions were soyoil a...

Closing Futures Prices

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

Economic Outlook

The supply of money held by the public has grown almost 47 percent since 2010 when compared with the size of the economy, and some estimates indicate that...

Market Commentary

Unusual strength in Sunday night trading gave way to a sharply higher trading session for the soy complex. U.S. exports are well above USDA projections, le...

Mercosur Regional Analysis

Argentine soybeans started this week showing weaker basis. May shipment is offered at 20 SN with demand bidding at 15 SN, and June cargo is offered at +25...

Transition: USDA and World; Balkanized Agriculture

If many Americans barely understand why and what happened in the recent election, foreigners can be forgiven a similar challenge. International relations h...

Southern Plains Turning Dry

Crop conditions across the U.S. have been so good that there simply hasn’t been any worry about moisture levels. Meanwhile, 2016 brought record U.S. winter...

Propane Outlook for the 2016/17 Winter Season

The U.S. Energy Information Administration (EIA) has issued its Winter Fuel Outlook. It includes data regarding propane, the cost of which is a a major inp...

Closing Futures Prices

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

Southeast Europe Regional Analysis

Demand for Ukrainian wheat is still present in India. One vessel loaded in Bulgaria last week is also apparently destined there, and Russia has asked India...

Do the Math

Analysts are already starting to consider the mix of U.S. planted acres for 2017. Those acreage projections will be used as the base for making next year''...

Market Commentary

Markets were generally mixed overnight, but they turned positive today and finished the week with moderate gains in soybeans, corn and wheat. This was an i...

Closing Futures Prices

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

Transitional Crops; Dead Zone Policy; Huge Conspiracy

The Organic and Non-GMO Forum this week highlighted the conundrum hitting U.S. farmers as consumers change their preferences. However, a new farm bill init...

New Strategy for the Lame-Duck Session

After seeming intent on bundling together certain regular appropriation bills as a series of “minibus” bills prior to the election, the Republican congress...

Indian Subcontinent Regional Analysis

India's recent move against  the country's old currency notes is having a profound effect on farmers who bring their produce to market as well as truc...

Closing Futures Prices

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

Oilseed Highlights

Brazil’s biodiesel production is forecast  to change notably in 2017, based partially on a revision to the required blending level for biodiesel with...

More Tales from Export Sales

U.S. corn exports deviation from historic patterns has implications for what exports will be in the rest of the marketing year. Analysis of unshipped corn...

Retailers Featuring Beef; COF; Thanksgiving Dinner

With beef prices moderating from record highs in recent years, retailers are enjoying profitable margins and have returned to promoting beef with features,...

GMO Enforcement; Natural to a Fault

Ahead of next week’s meeting of the U.S.-China Joint Commission on Commerce and Trade, 37 members of the U.S. Senate asked Obama administration negotiators...

Market Commentary

Trading volume remained slow early in the day session with grain and soy prices muddling around on either side of Wednesday’s closes. The biggest feature d...

Mercosur Regional Analysis

A sudden increase in freight rates from the U.S. Gulf has made Chinese buyers nervous. U.S. FOB prices remain on par with Brazil’s, but certain issues rega...

Biofortified Maize and the Politics of GMOs

Conventionally-bred biofortified crops are improving the health of millions globally but will eventually be forced to rely on GM technology. Will activists...

Closing Futures Prices

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

Market Commentary

Grain and soy futures modestly extended Tuesday’s upturn in prices in slow overnight trading with several factors providing a considerable headwind that li...

New Trade Paradigm; Lesson in Geneva; Trump Impact

The election of Donald Trump is prompting a complete rethink of U.S. trade policy - some of it reasonable, and some of it not so much. New Trade Paradigm T...

Black Sea Regional Analysis

Ukraine's milling wheat prices continued to rise (in UAH expression) due to high demand from domestic and foreign buyers. Meanwhile, Russia's grain export...

Ag Review: Agribusiness Margins in the Face of Uncertainty

WPI Bull/Bear Leanings for Agribusiness A summary and graphical depictions of WPI’s expectations for future agribusiness performance. The Grain Indus...

Middle East, Mediterranean and Africa Regional Analysis

While the currency situation in Egypt seems to be a bit calmer this week, the general consensus among private sector importers is that grain imports will h...

Market Commentary

Grain and soy futures prices were choppy and mixed overnight with corn and soybeans lower and wheat slightly higher in quiet trade. However, the day sessio...

Closing Futures Prices

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

Updating the U.S. Corn Outlook

The November WASDE's surprising increase in the estimated U.S. national average corn yield warrants a fresh look at the nation's supply/demand dynamics.As...

North Dakota Congressman Outspoken on Ag Policy

Representative Kevin Cramer (R-North Dakota) is becoming an outspoken leader in proposing new agricultural policy ideas, but his biggest reforms come in th...

Trumped Farm Bill; Margin Winners

Typically, political party insiders negotiate a “platform” of policy platitudes intended to inform voters and guide the presidential nominees on the prefer...

Oilseed Highlights

 China’s Global Times, the state-run newspaper, published an editorial warning of bad consequences for the U.S. if the Trump administration imposes re...

It’s All about Asia, and It Will Stay That Way

Southeast Asia is the location of nearly all of the growth and market action and will continue to be so for a long time, which is certainly no surprise to...

Closing Futures Prices

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

Farm Bill Issues and the 2018 Election

With the election over and all eyes in the ag sector on the 2018 Farm Bill, it is worth looking ahead to the 2018 mid-term elections and what role they wil...

Southeast Europe Regional Analysis

The exportable surpluses of milling wheat in Ukraine and Russia are estimated at 16 MMT and 30 MMT, respectively. However, weather conditions during the ne...

Europe Trumped; Supply Destruction

Germany’s Prime Minister Angela Merkel, who set off a political eruption in Europe with her near unilateral decision on Syrian refugees, welcomed incoming...

Market Commentary

Several notable factors were not sufficient on their own to bring enough buyers to the soybean market to offset the fund selling. Much of this weakness is...

China In-Country Analysis

After a strong summer, U.S. pork exports to China came in at 23,905 MT for September with a total value of $50.15 million. These figures were significantly...

Indian Subcontinent Regional Analysis

The Government of India’s surprise demonetization of the Rupee has financial impacts rippling through the Indian economy, though commodity prices remain re...

Erroneous Trump Policy Speculation

In the aftermath of Donald Trump’s victory the whole cadre of Washington analysts, journalists and special interests are playing the speculation game...

Trump's USDA

The outlook for agriculture under a Trump Administration includes a move away from “foodie” issues pushed by the Obamas and farmers in prominent D.C. posit...

The Week That Was

The surprising events of this week created substantial market volatility that will not soon be erased. Normally, the winter months are quiet for commodity...

Market Commentary

A volatile week finished with a retreat in the soy complex, driven by rumors of China forcing a fund out of a long position on the Dalian exchange and farm...

Closing Futures Prices

Today's grain, oilseed, cattle and hog prices.Note: Due to the Veterans Day holiday, the CFTC Committment of Traders data will be published Monday, 14 Nove...

Closing Futures Prices

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

Oilseed Highlights

The big crop was made bigger by USDA’s latest report. The U.S. soybean yield is now the highest on record in the world. Argentina’s soybean crop forecast w...

Into the Unknown

The election is over but the guesswork on what President-elect Trump will do upon entering the White House is just beginning. Possible issues at the forefr...

Wrong Political Lesson; Real Cheese Please

EU leaders are warning that Brexit and Trump’s victory are “warning signs” to liberal democracies though efforts to suppress such events...

Market Commentary

The soy complex took off in the overnight session, fueled by a rally in Palm Oil futures and Asian veg oil supply tightness. Corn and wheat followed soybea...

LIVESTOCK ROUNDUP: Election, WASDE and Red Meat Exports

Following Trump’s election victory, cattlemen are pledging to work with the new administration on issues from trade to sage grouse, though advancing TPP wi...

Closing Futures Prices

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

Trump Transition; Environment Election; Economy and Trump

The most shocking vote in recent history is over and efforts will begin to stitch together the Trump Administration. Other election news includes Washingto...

Black Sea Regional Analysis

Russia’s grain harvest will be the largest in 38 years which sent Russian grain prices were lower this week, adding competitive fuel to world markets. Ukra...

Mercosur Regional Analysis

The record U.S. crop is stifling demand for Brazilian beans and negligible quality differences between Argentinian soybeans and those from the U.S. PNW are...

Market Commentary

The U.S. Presidential election and the November WASDE proved to be a vicious combination that sent markets – from corn to oil to equities – into a tailspin...

Non-Election Topics

Americans are growing weary of political discussions and are looking forward to non-election topics. Fortunately, U.S. grain exports, La Nina weather, and...

New Tax Magnet; Pinging Barriers

Food may be replacing fossil fuels as the flavor of the day for taxes while the WTO’s new system for reporting regulatory barriers to trade may need to be...

Closing Futures Prices

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

Middle East, Mediterranean and Africa Regional Analysis

The new floating Egyptian pound is likely to slow markets in the near term as traders and end-users adjust... Regional Updates MIDDLE EAST/MEDITERRANEAN CO...

Oilseed Highlights

A ban on GM ingredients in animal feeds passed Poland’s lower house of parliament and, if passed in the Senate, could disrupt the nation’s animal industrie...

2018 Farm Bill Baseline Outlook

Falling crop prices and net cash farm income are juxtaposed against falling government farm program payments which will create lively debate when the new C...

Market Commentary

Following yesterday’s “relief rally” in equities, grain and oilseed markets exploded higher today. Malaysian palm oil and Chicago soyoil led grains higher...

Closing Futures Prices

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

Another USDA Report, No Surprises Likely

The November WASDE report may be overshadowed by the election results but important international production revisions are possible. Dry weather in South A...

Lame Duck Agenda

Tomorrow’s elections, for both the U.S. President and various Congressional seats, has strong implications on what will be accomplished during the coming l...

Market Commentary

Weekend election news sent outside markets sharply higher while fund buying boosted the soy complex. Corn and wheat markets were softer despite large volum...

China In-Country Analysis

China’s bifurcated corn market continues with northeastern prices falling and southern prices rising on supply tightness. Chinese soybean crushing margins...

Sugar Tax Election; TPP Dead; Precision Subsidies

Taxes on sugary soft drinks are on several municipal ballots tomorrow, but will they achieve their desired results? Meanwhile, TPP is practically dead and...

Southeast Europe Regional Analysis

Black Sea wheat prices are firming and offers in Ukraine are difficult to find while Russian prices have increased $10 in one month. Black Sea corn markets...

Indian Subcontinent Regional Analysis

The market yard price of corn in Nizamabad has dropped 11.06 percent from the start of the season to $201/MT, and the NCDEX spot price there also decreased...

Market Commentary

Every market has been very tentative this week, and today was no exception. Trading volume was average ahead of the weekend and the U.S. presidential elect...

Farm Groups Start Asking Questions About Next Farm Bill

The 2014 Farm Bill doesn’t expire until 2018, but deliberations on the next one will start in earnest when the new Congress convenes in January 2017. In pr...

U.S. Winter Wheat Acres Going Lower

Record hard red winter wheat yields are not enough to keep 2016 winter wheat plantings from declining, and there are several reasons for the drop in acreag...

Closing Futures Prices

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

Closing Futures Prices

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

Oilseed Highlights

The government of Malaysia today announced it would boost the mandatory biodiesel blend requirement on 1 December. While it will rise from 7 to 10 percent...

Free Trade and the Disbelievers

Distrust of trade agreements is a symptom of a growing, classic populist belief that the trade deck is stacked in favor of big multinational corporations a...

Uncertainty; Too Many Cooks

Global economic growth and trade have been slower in recent years, and Steven J. Davis of the University of Chicago can tell you why.   Policy Uncert...

Market Commentary

Grain and soy markets appear to be adopting a cautious approach to next Tuesday’s election and next Wednesday’s November WASDE. Fund managers are taking so...

Managing the Pork Supply; Red Meat Production

With hog slaughter up this year, there is an excess of pork on the market that will affect prices, especially going into the Thanksgiving holiday when reta...

Creating Competitors; Obesity; TPP Votes; Outlook

As net agricultural exporting countries have worked to improve their access to foreign markets, the less competitive nations have increased their efforts t...

Black Sea Regional Analysis

Russian grain markets again followed the trends of previous weeks as milling grain prices continued to grow. Meanwhile, Russia exported 354,700 MT of grain...

Market Commentary

Perhaps the most interesting feature from the overnight trading sessions so far this week is that while trading volume for grains and the soy complex has b...

Closing Futures Prices

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

Mercosur Regional Analysis

Argentina remains active in the new crop soybean market. Its last trade was performed yesterday at $0.96 SN CNF for June shipment, and offers keep going lo...

Middle East, Mediterranean and Africa Regional Analysis

Egypt has set up a new wheat import inspection system that seems to be giving some confidence to traders and tender participants. It will be under the auth...

Closing Futures Prices

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

Market Commentary

The latent bullish trends that the soybean and corn markets were working to establish got blown apart today, and the technical momentum is now pointed down...

Potential Market Movers

With the fall harvest so far along the downhill slope, it is a good time to step back and take a look at things that might become potential market movers i...

Oilseed Highlights

With Chinese investors increasingly soured on stocks, they have shifted to other sectors such as calligraphy, antiques, art and commodities. One target of...

Protein Rebound

Protein is trending again among diet fads and nutritional advice, but per capita consumption has been moving downward, largely due to retail prices. Howeve...

Fire Hakim

Conventional agriculture is accustomed to seeing the distortions professed about biotechnology by anti-GMO activists, but reading such in the New York Time...

More Things to Keep You Up at Night

Last week's U.S. export inspections were again very big last week, and that highlights the ability to move grain and oilseeds from the interior to export f...

It’s Hard to Make Some People Happy

Ironically, the most protected industry in U.S. agriculture is complaining that its farmers are disadvantaged, and it makes an emotional appeal with an eco...

Closing Futures Prices

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

Market Commentary

The grain and oilseed markets were quietly mixed in overnight trading. Wheat was actually the upside leader last night and today. Corn and soybeans were sl...

China In-Country Analysis

With the landed price of imported soybeans rising to RMB 2,935.74/MT ($433/MT) last week, oil and meal prices were increased. Despite that, the average cru...

CETA’s Meaning; Signs of EU Change; Win Win

By successfully pushing through the Comprehensive Economic and Trade Agreement (CETA) with Canada, EU officials showed more moxie than their American count...

Soybean Economy

The last quarter's GDP growth was the highest since the third quarter of 2015 and more than twice the average rate for this year’s first two quarters. One...

Market Commentary

Markets were slightly lower overnight with no fresh news to push prices higher heading into one of the last harvest weekends of this year. Wheat still has...

What Might 2017/18 Look Like?

Estimates of what U.S. farmers might plant in 2017 are already emerging, although it is very early to play this game as the 2016 corn and soybean harvests...

Indian Subcontinent Regional Analysis

India's peanut-in-shell MSP for the 2016/17 season was fixed at $629/MT in June 2016. However, GOI’s first advanced estimates of September 2016 have projec...

Closing Futures Prices

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

Food Price Deflation Reflects Commodity Markets

Yesterday USDA released its Food Price Outlook Report for September, which is based on the Consumer Price Index (CPI) from the Bureau of Labor Statistics,...

Closing Futures Prices

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

CETA Angst; Nuking Equality

Canada is a small country next to the EU, but at this time it shares its head of state with the Brexit redcoats. Perhaps this is behind the fact that nothi...

Trends in World Trade

If U.S. grain and soybean exports are of key importance to futures market action, it follows that world trade in these commodities is as well.We have often...

Oilseed Highlights

The National Assembly of France today rejected a Green Party-proposed amendment to the 2017 budget bill, which the group had sought as a way to address its...

Market Commentary

Overnight trading built on the momentum provided by yesterday’s firmer closes. The day session saw prices mostly stay in the green, although some choppines...

Market Commentary

Futures prices found buyers early during the overnight trading session, and they began to edge higher with the soy complex in the lead. The green numbers c...

Dumb Parents; Gibberish Labeling; WTO and Wallonia

The New York State Congress of Parents and Teachers has apparently decided to jump the shark by literally opposing GMOs in school meals, citing overwhelmin...

Black Sea Regional Analysis

Ukraine's mllling wheat prices increased, mainly due to international factors such as the higher purchase price on the GASC tender and lower-than-forecast...

Mercosur Regional Analysis

Argentina again traded a full May shipment last week at +99 SN CNF China, a decrease from the last trade at +110 SN for an April shipment. Considering that...

Closing Futures Prices

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

Election 2016: A Look Two Weeks Out

The U.S. election is two weeks from today, so this seems like as good a time as any for a preview. Voters will choose a president, all 435 House members an...

Market Commentary

Grain and soy futures prices were mixed, but little changed in rather quiet trade overnight. What excitement there was came from Malaysian palm oil, which...

Closing Futures Prices

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

Terminology; EU Irony; Trade De-Partisanization

Voting in the U.S. Congress had been increasingly partisan with Republicans favorable and Democrats opposed to free trade deals. Now the 2016 presidential...

Corn Market Dynamics

Having become confident that it has a good handle on total U.S. corn supplies for 2016/17, the market has already begun to switch its focus to the next two...

Middle East, Mediterranean and Africa Regional Analysis

The Kenyan government has announced that it is raising the National Cereals and Produce Board (NCPB) purchase price for maize by about 22 percent. However,...

Oilseed Highlights

The All India Poultry Exporters Association wants the government to either ban the importation of chicken meat produced with biotech feed ingredients or al...

Not Again in My Lifetime

 Many farmers across the northern Plains, the new Corn Belt, are saying that they won’t see yields like this year's corn crop again in their lifetimes...

Closing Futures Prices

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

Market Commentary

Markets opened slightly lower Sunday evening, but it didn’t take long before soybean futures turned positive. November soybean futures traded as much as 16...

Southeast Europe Regional Analysis

The market in Romania and Bulgaria is very quiet. While the domestic wheat price has increased about $10 over the last three weeks, farmers are still reluc...

Growth in Cheaper U.S. Crude Oil

As the market recovered this year, there has been growth in certain short positions on the part of producers and merchants. This could well suggest that U...

China In-Country Analysis

China’s domestic corn prices showed some volatility last week between northern and southern provinces as deep corn processors in the latter lacked sufficie...

Minority Rights; Anti-Biotech Nonsense

The relative power balance of minority opinion versus the majority is the tipping point between successful democracy and future Brexits. Extreme Minority R...

RVOs Rule Proposal Sent to White House OMB

On Wednesday of this week, the U.S. EPA submitted its proposed RVOs rule for biofuel use under the RFS to the White House OMB. The question that remains is...

Mistruths about Trade

Washington’s famous think tanks have opined on the future of trade policy, and the analysis is far more thoughtful than the complete falsehoods asser...

Closing Futures Prices

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

The Demand Train Still Gaining Momentum

It is still tough to find anyone who is even leaning toward the bullish side of the ledger, but it is also becoming difficult to ignore the building demand...

Indian Subcontinent Regional Analysis

Keeping food prices down is key for Indian households. In order to do that and also maintain low inflation, the government has taken a step that would allo...

Market Commentary

Markets were steady in quiet overnight trade. Corn and soybean futures gained back some of yesterday’s losses to start today’s action. Corn was steady to h...

Market Commentary

The overnight session was a relatively quiet one with corn and soybean prices trading a little higher and following up on yesterday’s firm finish while whe...

Oilseed Highlights

While USDA is forecasting a record U.S. soybean yield this year of 54 bushels/acre (3.63 MT/hectare), there is a great deal of evidence that it may be even...

Hog Backlog; Cattle on Feed; Cattle Futures Contract

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

Oilseed Highlights

While USDA is forecasting a record U.S. soybean yield this year of 54 bushels/acre (3.63 MT/hectare), there is a great deal of evidence that it may be even...

Oilseed Highlights

While USDA is forecasting a record U.S. soybean yield this year of 54 bushels/acre (3.63 MT/hectare), there is a great deal of evidence that it may be even...

The La Nina Dance

After one of the strongest El Ninos on record was officially declared over last June, the CPC issued a La Nina watch. That was then cancelled in early Sept...

Closing Futures Prices

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

India’s Chutzpah; Ignoring Elephant; Regime Change

Agriculture specifically is unlikely to be much affected by the U.S. election, but there are tangential issues with implications for the sector. Chutzpah T...

Mercosur Regional Analysis

Despite the continuous drop in basis in the U.S., Brazil and Argentina have decided to compete by lowering their levels against USG and PNW. The main compe...

Black Sea Regional Analysis

Feed wheat and feed barley FOB offer prices decreased in Ukraine but remained steady in other terms of trade. Meanwhile, milling wheat bid prices grew on t...

Market Commentary

Grain and soy prices traded back and forth in overnight trading. Corn and wheat futures traded unchanged to a little lower, while soybeans were slightly hi...

Closing Futures Prices

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

Clinton versus Trump on Ag; Chemo-Marketing

Differences, nuances and agreement marked the outcome of a session today between former USDA Deputy Secretary Kathleen Merrigan representing the Clinton ca...

USDA Trying to Wrap Up Six Years’ Work on GIPSA Rule

USDA has sent the White House OMB a draft of new livestock marketing and contracting regulations under GIPSA. Some of the controversial provisions in the o...

Middle East, Mediterranean and Africa Regional Analysis

Tanzania reports that its first official GM maize field trials, which involve a white drought-resistant variety, began last week and are expected to take a...

Oilseed Highlights

U.S. farmers are in the process of harvesting the largest soybean crop ever along with a record yield. In many states, they are seeing yields far above ave...

Closing Futures Prices

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

Soybean Market Dynamics

One might ask why the big crop/big demand year of 2016/17 is much different from 2015/16 when there was an almost record U.S. soybean crop absorbed by then...

Market Commentary

Markets traded both sides during the overnight session as wheat, corn and soybean prices held near the high ends of their recent trading ranges. After grai...

Random Thoughts from a North Asian Wheat Conference

From China’s non-WTO compliance to “gluten free” marketing and excess shuttle-train capacity, a recent wheat conference for North Asian wheat buyers reveal...

China In-Country Analysis

Falling soymeal stocks and increasing soyoil prices, combined with inexpensive imported soybeans, have boosted Chinese crushing margins recently. U.S. soyb...

Market Commentary

Soybeans rallied strongly today as global vegoil prices spiked early. NOPA’s report highlighting ending stocks and crushing rates added to the bullish fuel...

Closing Futures Prices

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

The Cost of the Coming Winter

NOAA’s forecast that the coming winter will be colder than last year’s means energy costs will be on the rise. Livestock producers in the Midwest will cons...

Southeast Europe Regional Analysis

Black Sea wheat and corn prices are firmer this week, driven by the futures rallies in Paris, Chicago, and other global markets. Additionally, Ukrainian ra...

Ag Review: Industry Insights and Outlook for Q4 2016

The Grain Industry Farmland values have been among the last to experience the impact of low commodity prices, but the downward pressure has now begun. Oils...

Indian Subcontinent Regional Analysis

GOI has undertaken the task of integrating the Regulated Agriculture Market Yards, which provide pricing for farmers’ produce bought in the market yard. Th...

Federal Preemption Needed

Massachusetts may soon join California in dictating livestock production methods in a manner that greatly disrupts the farming industry. This is all certai...

Closing Futures Prices

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

Market Commentary

Strong upward price action occurred in the grains and oilseed complex today as bullish export news outweighed the week's record-breaking supply news. Fund...

Wheat, Wheat Everywhere, but Not a Drop to Eat

U.S. wheat ending supplies and another record world wheat crop in 2016 are all being affected by one particular issue.The USDA quarterly stocks report rele...

Market Commentary

After yesterday’s highly anticipated October WASDE led to futures prices ultimately sliding lower, trading volume during the overnight trading session was...

Implications of USDA-Projected Dairy Growth

Over the past 15 years, U.S. dairy exports have expanded more than fivefold, reaching a record $7.1 billion in 2014, and the longer-term USDA 10-year forec...

The Aftermath of the October WASDE

While the October 2016 WASDE contained no fundamental surprises, it did not lack for items of interest.As noted yesterday, the October 2016 WASDE contained...

Market Commentary

After yesterday’s highly anticipated October WASDE led to futures prices ultimately sliding lower, trading volume during the overnight trading session was...

Brazil GMO Seed; Africa Led Astray; Polling Now

Brazilian Secretary of Agribusiness and International Relations Odilson Ribeiro Silva has approved the Chamber of Foreign Trade allowing the importation of...

Oilseed Highlights

Yesterday’s USDA report indicates that U.S soybean exporters and processors are going to have a large supply to work with in the year ahead, and one partic...

Closing Futures Prices

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

Market Commentary

After yesterday’s highly anticipated October WASDE led to futures prices ultimately sliding lower, trading volume during the overnight trading session was...

USDA Buying More Cheese; Trade in 2017

China’s enormous influence on the pork market is now greater than ever as USDA is projecting that the country will account for more than 25 percent of glob...

Mercosur Regional Analysis

The old crop corn market remains totally quiet with a few sellers ready to trade at $0.90 over December futures for October and November and with a few cen...

Market Commentary

USDA’s October production and supply/demand estimates were relatively close to expectations and certainly not bullish. In the immediate wake of today's rep...

GI Challenge; Funding Politics

The Canada-EU Trade agreement is on the docket for discussion this week in Brussels, and  the U.S. dairy industry is now reportedly preparing to chall...

Closing Futures Prices

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

Black Sea Regional Analysis

Russia's domestic prices for 3rd and 4th grade soft mililng wheat increased for the most part during 3-9 October, and 5th grade feed wheat prices dropped a...

TPP More Likely; No Food Policy Election

Conventional wisdom holds that when both major presidential candidates oppose the Trans-Pacific Partnership (TPP), it makes congressional consideration and...

Closing Futures Prices

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

Some Pre-Report Thoughts and Other Matters

Markets are of course fixated on tomorrow’s WASDE from USDA and the updated yield and production estimates for the U.S. 2016 corn and soybean crops it will...

Middle East, Mediterranean and Africa Regional Analysis

High maize prices in South Africa have in turn pushed up local poultry prices, leading to an expected notable increase in poultry imports this year and an...

Market Commentary

Markets did very little on this day before the release of the October WASDE. Prices traded on both sides of yesterday’s closes and mostly settled with only...

Oilseed Highlights

It is well known that people tend to eat higher quality diets containing more animal protein and vegoils when they migrate from farms to the cities. That h...

Market Commentary

Corn was mostly steady overnight, but it turned higher today and closed quite strong. The corn market still has a significant fund short position. Meanwhil...

Closing Futures Prices

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

Food Policy Poll

Given the growing opinion in support of regulation, perhaps the most interesting poll result was when participants were asked to rank their level of trust...

October USDA Reports

The trade talk has been about better soybean and smaller corn yields than expected since these harvests got underway. The latter yield, though, would have...

Policy and Technology

Much the way Washington and Brussels help their respective main aircraft builders, Boeing and Airbus, the EU and the U.S. subsidize their respective agricu...

Southeast Europe Regional Analysis

The wheat market in Romania and Bulgaria remains very quiet as farmers are not selling at current market prices. They are still holding a large volume of s...

China In-Country Analysis

Despite flooding in several provinces over the summer, there was a drought in Heilongjiang, the bedrock of China’s domestic soybean industry, which has imp...

Trade Adjustment; Marshmallows; Chem Attack

One U.S. agency's review of restrictions on a particular  herbicide and state action regarding chemical spraying ultimately signal that food security...

Farm Program Spending Outpacing Other Entitlement Programs

USDA announced this week that more than $7 billion will be paid out in farm support payments under the new ARC and PLC programs versus approximately $5 bil...

Market Commentary

Markets traded steady to fractionally higher overnight in very light volume. Today saw a consolidation type of trading ahead of the weekend and before next...

Indian Subcontinent Regional Analysis

India's domestic oil industry had asked GOI to raise both the duty on imported oil along with the differential between the crude and refined oils duties to...

Closing Futures Prices

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

More Things to Keep You Up at Night

Record soybean yields and soybean markets that have held relatively strong have turned the Corn Belt (and northern Plains) farm economic outlook from grim...

Closing Futures Prices

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

Comeback from Avian Flu; Hogs and Pigs; FSIS Label Guidance

The two commodity sectors impacted by highly pathogenic avian influenza (HPAI) have made a comeback. Meanwhile, USDA’s FSIS has released a guidance documen...

Oilseed Highlights

Reports of very high soybean yields across the Midwest continue. However, it also is clear that many farmers saw substantial losses this year because of a...

An Anniversary of Sorts

Much has happened in the 20 years that have passed since the first genetically modified (GM) soybean crop was harvested in commercial quantities by U.S. fa...

Harvesting Cash from Naiveté

By awakening consumers to the mundanity of the food business, one food critic and his ilk have spawned new Big Ag profits with meaningless but profitable p...

Market Commentary

Once again, overnight trade in grain and soy futures was characterized by low volume and limited price movement. The day session found more selling pressur...

Cold War in Economics

In the post-Cold War through pre-Great Recession timeframe, the Western “neoliberal consensus” for economic policy took over the world like a tsunami. Now...

Black Sea Regional Analysis

Ukraine's milling wheat market was rather stable last week. Domestic traders’ bids grew because of rather active demand, mainly in the bottom segment, to $...

Closing Futures Prices

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

Market Commentary

Grain and soy markets were mixed overnight in slow trade. Prices traded both sides of yesterday’s closes but never moved very far from them. However, the d...

Mercosur Regional Analysis

There were almost no soybean trades in Argentina this past week. Demand has been showing up mostly for November and December in search of cheap offers. How...

Closing Futures Prices

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

China Risks Relations; Future of China Relations

China seeks treatment as a market economy, and yet its top-down policies such as the Textile Industry Development Plan reveal the extent to which it will t...

Trump’s Trade Policy: A Tax Increase

A white paper with a detailed breakdown of Donald Trump’s economic plan was released last Thursday by two of his campaign’s senior economic policy advisors...

A Snapshot of the U.S. Wheat Outlook

For the past several years, the U.S. wheat supply/demand outlook and U.S. wheat prices did not mean a great deal to the world market. Cheaper wheat was ava...

Middle East, Mediterranean and Africa Regional Analysis

While the recent ergot issue in Egypt appears to be resolved, the government's announcement this past week regarding changes to the origin and destination...

Oilseed Highlights

The government of Argentina yesterday announced the soybean export tax will not be reduced by 5 percent as promised on 1 January due to financial difficult...

Market Commentary

Corn futures prices were buoyed by the market’s ability to once again trade and close above the $3.43 technical support level for December corn. Meanwhile,...

Upon Further Review

The 30 September USDA quarterly stocks reports didn’t contain any hidden bullish or bearish news for the corn and soybean markets. However, there a few iss...

Southeast Europe Regional Analysis

The wheat market in Romania and Bulgaria is extremely quiet. No trades have been reported in recent weeks except for one Moroccan tender as farmers are unw...

Market Commentary

While markets were steady overnight in light volume trade, corn and soybean markets started to firm at today’s opening. Wheat, on the other hand, couldn’t...

China In-Country Analysis

With the Mid-Autumn Harvest Festival in close proximity and the National Day scheduled to run through the first week of October, market data has been limit...

Low Substance; Fig Leaf; Labels; GMO Embargo

In hopes of spurring support for the Trans-Pacific Partnership (TPP), some U.S. agriculture groups highlight the fact that the EU is continuing to negotiat...

Closing Futures Prices

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

Pressure on the Biodiesel Tax Credit

At the moment, there is political inertia on a tax extender package. In part, this is because last year’s Protecting Americans from Tax Hikes (PATH) Act ad...

Crop Insurance Worries for Wheat

The RMA employs the FN rating to reduce the APH yields used for crop insurance policies. This year’s problem with the FN scores is in addition to the low y...

Indian Subcontinent Regional Analysis

At the start of the wheat season, it was thought in India that international prices could rise if large volumes of wheat were to be imported. That has not...

Corn Fight; Leverage; Aggie at EPA

African countries attending a conference this past week in Washington on the African Growth and Opportunity Act (AGOA) pushed back on a U.S. suggestion tha...

Closing Futures Prices

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

USDA Quarterly Stocks Report

The September WASDE soybean ending supply estimate was 195 million bushels, and the trade was looking at today’s stocks number to see if carry-in soybean s...

Market Commentary

Markets were mixed to lower overnight in light trading volume. Wheat and corn opened lower this morning ahead of the USDA reports, but the soy complex star...

Closing Futures Prices

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

Hogs and Pigs Report; Cold Storage

USDA will release its quarterly Hogs and Pigs report tomorrow. If expectations bear out, slaughter capacity could become very tight in November and Decembe...

New Trade Policy; Stop the Pests

In a critique of U.S. trade policy, Congressman Sander Levin (D-Michigan) correctly asserts that the public perception problem with trade will not go away...

Market Commentary

Trading ahead of tomorrow’s USDA reports produced mixed results. Those reports coincide with the end of the quarter for noncommercial-managed funds, a time...

Odds and Ends

The eve of another important report from USDA, namely tomorrow’s 1 September quarterly stocks plus the final small grain production summaries, presents a g...

Fracking and Farming; Wasted Effort; Megafarms

Opponents key in on two or three generalized arguments against it, but there are dozens of specific outcomes of the TPP that are better than the status quo...

Black Sea Regional Analysis

Although the Russian grain market continued to follow the trends of the previous week, there were two new influencing factors. Meanwhile, an analysis of 20...

Mercosur Regional Analysis

Argentina's soybeans showed some movement this week in the new crop market with one cargo  traded at +43 SN for a 15 April position. Meanwhile, Brazil...

Closing Futures Prices

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

Market Commentary

Crude oil’s excitement of today did not spill over into grain or soy complex markets. Meanwhile, soybean export sales totaling 343,000 MT and the reports o...

Middle East, Mediterranean and Africa Regional Analysis

Kenya reports that local maize and maize meal prices are dropping slightly as the local harvest has boosted supplies. However, maize imports are still need...

Urban Pastoralization; Healthy Labeling

In an effort to get more concrete poured on top of soil, the U.S. has had rural development subsidies for decades, and now there will be the opposite, urba...

Closing Futures Prices

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

Oilseed Highlights

The U.S. soybean harvest has been delayed by heavy rains, and the key states affected include North Dakota, Iowa, Illinois, Minnesota, and South Dakota. Wh...

From the Campaign Trail

Last night’s first presidential debate of the general election campaign did not include any mention of agriculture or agricultural policy – as was to be ex...

Wheat’s Struggles

Historically small wheat acreage should result in sharply reduced production, which would seem likely to help lower burdensome wheat supplies for 2017/18...

Market Commentary

Corn futures prices traded lower early to near a multi-week low and then recovered to finish with a gain of a couple of cents. The day’s trading range was...

Closing Futures Prices

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

China In-Country Analysis

The estimated nationwide soymeal inventory totaled 512,000 MT as of 23 September, down 40,000 MT (-7.26 percent) from the week before and 467,200 MT lower...

More Things to Keep You Up at Night

Shuttle rail secondary market values have been rising for weeks and are now trading at a $1,000-2,000/car premium to tariff for October and November. They...

What the Fed Likely Will Do

Although the Fed did not increase interest rates at its last meeting, just as it hasn’t since December 2015, certain factors suggest a rate hike will very...

Market Commentary

Corn steadily lost ground today on fund selling and some expectations that farmers will have to sell some bushels as the corn harvest starts to gain some m...

Abenomics; Trump Deficit; CAP Conflict

Japanese Prime Minister Shinzō Abe introduced today his envisioned economic policy. It is mostly a rehash of prior commitments but now with a $277 billion...

Oilseed Highlights

Canadian Prime Minister Justin Trudeau and Chinese Premier Li Keqiang jointly announced yesterday in Ottawa that the two countries have reached an agreemen...

Closing Futures Prices

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

Indian Subcontinent Regional Analysis

The first advance estimates for India’s 2016/17 kharif production have been released, and they indicate a bumper crop this year. However, the trade believe...

DDGS Duties; Rulemaking; Fat; Debate

The announcement that Beijing will impose a 33.8 percent antidumping duty on imports of DDGS from the U.S. was not a surprise, although there is also anoth...

Weather Still a Factor

It has been an interesting year in crop weather - to say the least - and somewhat ironic that instead of hot, dry weather being the problem around the worl...

Brinksmanship on the FY 2017 Continuing Resolution

Emergency funding for the water crisis in Flint, Michigan, has now bogged down the CR and is leading to the political brinksmanship in Congress. However, a...

Market Commentary

Markets were weak overnight with soybeans leading prices lower, and that weakness continued into today’s session. There was some talk about soybean/corn sp...

U.S. Export Pace Substantially Higher Than Last Year

Only when examining the actual numbers can the magnitude of the increase in soybean, corn and wheat export sales from last year be realized. However, there...

Closing Futures Prices

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

Bee Sting; Africa; USDA Leadership

USDA Secretary Tom Vilsack reportedly recommended that his successor be a former governor. It is an understandable intuitive viewpoint, but not one held up...

Market Commentary

Markets firmed during the overnight session following yesterday’s mild sell-off. November soybeans finished the overnight session up 3¾ cents as tropical o...

Black Sea Regional Analysis

The Russian Grain Union president  has noted a specific currency change as a contributing factor to the country strengthening its position as one of t...

Mercosur Regional Analysis

The Argentine soybean market mostly continued in the pattern set the previous week with old crop offers at $1.25 over November futures. However, new crop o...

Market Commentary

Corn traded a narrow range today before settling a half-cent to a penny lower. New fundamental news is hard to come by at this point, and today’s weak acti...

Misdirected Blame; Reap What’s Sown

The UN adopted a declaration calling for all nations to address the problem of rising antibiotic resistance, and agriculture got fingered heavily. However,...

Closing Futures Prices

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

Blame Game; Unsolicited Advice

A provision in the 2014 Farm Bill requires the U.S. EPA to create an advisory committee of agricultural specialists to advise the agency’s scientists befor...

Market Commentary

Strong buying occurred in soybeans today with the November contract closing up 17¼ cents today. Both soymeal and soyoil offered early support as did higher...

Monetary Policy and Farm Income

The overall economy is ready for a federal funds rate hike, which will be an impact on farm income that is already down with crop prices and debt that is s...

Middle East, Mediterranean and Africa Regional Analysis

The fallout from Egypt's new zero ergot standard for wheat continues with no offers for its recent tenders and confusion regarding shipments purchased unde...

Oilseed Highlights

The aquaculture sector has long relied heavily on fish meal as a prime source of protein in its feeds. The supply is decreasing, however, so it will need t...

Winter Wheat Crop Revenue Insurance Prices

U.S. producers can participate in a crop revenue insurance program, Crop Revenue Coverage (CRC), with premiums subsidized by the federal government. Now th...

Closing Futures Prices

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

Short-Term CR Moving Forward In Senate

Federal government funding is approaching a crucial deadline with the current fiscal year ending on 30 September, and the Senate is expected to pass a CR t...

Southeast Europe Regional Analysis

While the Ukrainian feed wheat price lost about $12 during the past three weeks, the market in Bulgaria and Romania showed a different price change as a re...

Market Commentary

Soybean futures led the charge higher overnight on follow-through buying after last Friday’s strong closes. Corn then faced a problem similar to soybeans’...

Closing Futures Prices

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

China In-Country Analysis

Although U.S. corn exports to China saw a modest uptick in July at a total 59,078 MT with FOB port departure value of $9.65 million after consecutive month...

Mergers and Opposition

Senate Judiciary Committee Chairman Chuck Grassley (R-Iowa) hosts a hearing tomorrow on the proposed mergers occurring right now in the agribusiness sector...

Durum Production Big, But There Is a Problem

Canada is expected to harvest a record durum crop of nearly 7 MMT while the U.S. crop is the biggest in years at 2.5 MMT.  However, a certain issue wi...

Market Commentary

Markets were mostly lower overnight on relatively light volume. When today’s session opened, however, funds then embarked on a buying program in corn and s...

Dubious Wisdom; Trumped-Up Problem; Misinterpretation

The U.S. Food & Drug Administration is like most government bureaucracies in that it is slow-moving and over-reaching. However, Donald Trump’s call thi...

Ag Mergers Impact Washington’s K Street

Lower crop prices and farm income together with pressure for new products are leading to a wave of consolidation in the ag sector. One of the little-discus...

Indian Subcontinent Regional Analysis

High prices of pulses, the main vegetable protein for Indians, have led to higher wholesale and retail inflation. This has prompted GOI to enact certain me...

El Nino/La Nina? Not So Fast

The headline story of last spring and shortly thereafter was the record-strong El Nino and its potential impact on North American crop production this summ...

Closing Futures Prices

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

Closing Futures Prices

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

Market Commentary

Grain and soy prices firmed a bit overnight as trading volume improved from the low levels of the past two days. After trading resumed in the day session,...

Mergers and Acquisitions

Yesterday’s announcement that Bayer AG was acquiring Monsanto has set off a firestorm of mostly critical reaction. However, there is a key motivator behind...

Oilseed Highlights

The General Court of the European Union today issued a ruling on the EU’s anti-dumping duties on biodiesel imports from Argentina and Indonesia, and this c...

WASDE; Dairy Herd Culling Settlement; EU Pork Production

While U.S. pork production for 2016 is reduced on expectations of slightly lower carcass weights for the third quarter, there is a different scenario in th...

Cost of Free IP; Bear Market Strategies

The United Nations High Level Panel on Access to Medicines released its report this week advising that like poor countries, middle-income countries should...

Europe Falls Hard; Ag and WRDA

Nowhere is the lower farm income issue being more contentiously discussed than in Europe. Politicians are expressing outrage over the spread between farm g...

Market Commentary

Finally, the market seems to have absorbed whatever implications it has drawn from Monday’s WASDE and USDA’s updated predictions of U.S. corn and soybean y...

Closing Futures Prices

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

Mercosur Regional Analysis

Buyers returned to the Brazilian soybean market after a prolonged, especially quiet period. February shipments traded several times at $1.54-1.55 over Marc...

Black Sea Regional Analysis

Ukraine's domestic sunflower seed prices increased mainly due to devaluation of the national currency. Meanwhile, domestic rapeseed prices rose as buyers c...

Middle East, Mediterranean and Africa Regional Analysis

A recent GMO report notes that only three countries in Sub-Saharan Africa allow biotech crops, although eight other African countries are conducting fields...

Congressional CR Decisions Looming

With the government fiscal year ending on 30 September, the timing is clear as to when a CR must be passed, although the length of its duration is not. The...

Closing Futures Prices

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

Oilseed Highlights

The focus now shifts to harvesting the huge U.S. soybean crop.  Efforts are already underway in the Dakotas, but it will be two to three weeks before...

Trump, Ag and Trade

Trump campaign representatives spoke today to a packed room of agricultural group representatives. While there was insistence that farming would be treated...

A Few Thoughts from the WASDE

By the time the September WASDE was released yesterday, the trade’s pre-report consensus had coalesced. It had USDA’s corn estimates accurately pegged and...

Market Commentary

Overnight trade saw prices ease lower, led by soybeans. With no changes in the U.S. wheat supply/demand, wheat futures prices looked to the other markets f...

China In-Country Analysis

China’s estimated soymeal inventory totaled 606,900 MT as of 9 September, down 104,400 MT from the week before and significantly lower than a year ago. Mea...

Dodd-Frank and Agricultural Credit

The Dodd-Frank Act was signed in 2010 after the 2008-2009 financial crisis. Its purpose was to protect consumers and the stability of the financial system,...

Formers on Trade; Bogus Solutions; Clean and Messy Labels

The Center for Strategic and International Studies (CSIS) pooled together four former U.S. Trade Representatives (USTRs) to discuss American interest in th...

Closing Futures Prices

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

Southeast Europe Regional Analysis

While the Russian 12.5 pro wheat is the cheapest origin (for similar quality) for the next few months, there are certain other origins that may displace it...

Market Commentary

The trade expected the soybean yield to be raised, but USDA spooked the market by boosting it almost a full 2 bushels/acre, but there was a different surpr...

Mixed USDA Reports

USDA did not make a single change to the U.S. wheat supply and demand numbers. It did, however, adjust  production estimates for India, Kazakhstan, Au...

Think Tanks Calls for Privatizing Federal Ag Risk Management

The market-oriented think tank Heritage Foundation yesterday issued a special report, which provides a number of policy recommendations geared toward ...

Ag Perspectives Readers’ Yield Expectations

A survey of Ag Perspectives readers suggests likely corn yield reductions and more upside potential for soybean yields in the September WASDE report.Record...

Closing Futures Prices

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

Market Commentary

Markets were quietly mixed overnight with little fresh news ahead of the weekend and the 12 September USDA reports. U.S. equity markets were sharply lower...

Indian Subcontinent Regional Analysis

In response to an appeal for approval, a subcommittee of  India's Genetic Engineering Appraisal Committee has issued  its findings regarding the...

Another USDA Report

USDA will release its monthly WASDE (supply/demand) estimates and another round of corn and soybean crop production estimates on 12 September. However, the...

Deceptive Marketing; Trump versus Clinton; Japanese Rice

Public opinion polling sponsored by the Center for Food Integrity shows the number of consumer believing the food system to be headed in the right directio...

The Official Export Numbers

As interesting and important as export sales and export inspection data from USDA/FAS and FGIS may be, they are not the last word on the volume of corn, wh...

Market Commentary

Markets moved higher by baby steps overnight, helped by the weaker U.S. dollar as well as Chinese soybean imports from all origins that totaled 7.7 MMT dur...

Heifer Slaughter Higher in July; Red Meat Exports

The U.S. Meat Export Federation (USMEF) today released the July beef and pork export volumes and values, which are totaled from USDA statistics. Beef expor...

TPP Uncertainty; Disrupting Obesity; EU Insurance

Governments continue to be attracted to one-off tax schemes in an effort to fight the obesity epidemic and concurrently increase the budget coffer for poli...

Closing Futures Prices

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

Oilseed Highlights

The average forecast of analysts queried by Reuters is for Brazil to produce a record 103.1 MMT of soybeans in 2017. This is clearly a possibility if the c...

Market Commentary

Overnight trade saw generally higher prices for grains and the soy complex. The gains were modest in corn and wheat but more robust for soybeans and soymea...

Closing Futures Prices

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

Black Sea Regional Analysis

While Ukraine's milling wheat prices stopped rising because of the global market direction and milling rye prices remained stable, the general trend can be...

Disease Imports; G20 Misses; GMO Blog; Efficiency

G20 leaders meeting in China had several interesting conclusions about the global situation, but what really needs addressing are the unfair aspects of tra...

Mercosur Regional Analysis

Argentina’s soybean exports remain very quiet with old crop cargoes still offered by just one or two players at $1.35 over November for spot position. Mean...

Middle East, Mediterranean and Africa Regional Analysis

Researchers at Saudi Arabia’s KAUST University announced that they have identified a gene in barley that may increase yields in crops subjected to certain...

Cow Flatulence Tax; Complex Food Marketing

Despite the bulk of all feed grains being grown in the Midwest, California has managed to dominate the nation’s dairy production. However, the state legisl...

Supply and Demand

Four years of big crops in the U.S. and the world have brought some economic pain for farmers in the form of prices that, in many cases, are below the cost...

Closing Futures Prices

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

Oilseed Highlights

The government of China wants to reduce the country's corn production and stocks as well as the volume of soybean imports. Its goal is to raise soybean pla...

Positive but Slow Economic Growth with Pressure on Ag and Food

The recent Institute for Supply Management (ISM) reports indicate growth, although slow, for the economy overall. There is still considerable pressure on t...

Market Commentary

After the long holiday weekend, the overnight session saw a moderate volume of trading. The day session saw wheat and corn prices holding on either side of...

Corn and Presidential Elections

Yesterday was the beginning of the new corn marketing year, and a recent analysis indicates the direction of corn prices after 1 September seems to have a...

Indian Subcontinent Regional Analysis

It is the end of the corn season, and India does not have any surplus of stocks despite farmers increasing the planted area in response to market developme...

More Things to Keep You Up at Night

The giant corn and soybean harvests looming coupled with unprofitable low prices are creating a marketing dilemma for Corn Belt farmers. They are searching...

Closing Futures Prices

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

Transatlantic Mess; Views on Trade; Good Old Dayz

France is hosting a meeting of EU members to discuss the Common Agricultural Policy (CAP) and how it can better respond to the current supply/demand imbala...

Market Commentary

Markets were firm overnight with soybean futures trading as much as 10-11 cents higher. There was then more follow-through buying in the corn market today...

Closing Futures Prices

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

Free Trade Cycles

Support for free trade has ebbed and flowed in cycles that frequently track the ups and downs of national economies. Nearly every political leader is in fa...

North American Hogs and Pigs Inventory; Cash Receipts; Robotics

A cattle and sheep herding robot is being tested by the Australian Centre for Field Robotics. While the current model is more likely to replace herding dog...

Oilseed Highlights

Canadian Prime Minister Justin Trudeau has achieved a small measure of success regarding the issue of China changing its foreign material limit for canola...

Market Commentary

It is a new month today, and fund selling of the grains slackened, which allowed some price recovery overnight. This recovery carried over into the day ses...

Policy Change; Hate Answer; FarmTech; Coup

Thus far, activist groups such as Plate of the Union have been unable to achieve any kind of presidential candidate focus on U.S. food policy. Meanwhile, t...

Black Sea Regional Analysis

Russia has revised its grain harvest forecast and is also considering a change regarding grain exports after a discussion during proceedings of the Russian...

Market Commentary

Overnight trading saw soybean prices open higher on a rebound, then slip lower under more selling pressure while the grains hung on to trade marginally on...

Mercosur Regional Analysis

The next few weeks will likely be marked with Brazilian corn buyers turning to Argentina for December and March shipments, and Argentine premiums will sure...

Closing Futures Prices

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

New Year’s Eve for U.S. Corn and Soybeans

31 August is effectively New Year’s Eve for U.S. corn and soybeans as their 2016/17 crop year officially begins tomorrow. While it is doubtful that many in...

Rule by Irrational Mobs

Anti-GMOers want social or ethical concerns to be a consideration in biotech regulatory decision-making. However, this constitutes a slippery slope given t...

Market Commentary

Grain and soy complex futures prices tried to stabilize overnight after Monday’s beatdown, and there were expectations for some sort of “Turnaround Tuesday...

Oilseed Highlights

Argentina’s major farm organizations fear new legislation that the government plans to introduce next month regarding royalties on biotech soybean seed. Fa...

California Ag Overtime: A Budding National Issue?

The California minimum wage issue will, predictably, have broader economic impacts. The alarming development, however, is that this is becoming a national...

Yellow Charges; TTIP and Europe; No Problem

Anti-free trade campaigners attacked the pending EU-Canada Comprehensive Economic Trade Agreement (CETA) by arguing it would lower food safety standards. P...

Middle East, Mediterranean and Africa Regional Analysis

Egypt's ergot problem continues with its ever-changing tolerance level. The latest edict conflicts with the FAO determiniation of an acceptable limit for t...

Closing Futures Prices

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

Market Commentary

Markets started quietly Sunday evening. While analysts thought corn would find some support after the Pro Farmer crop tour released a corn yield estimate b...

Where Will the Cash Flow Be Found?

Farmers are trapped in an uncomfortable dilemma. Selling the remaining old crop bushels or more unsold new crop production at current prices will generate...

The Deficit and Rising Farm Spending

As farm and commodity groups seek additional financial assistance for the remainder of this year and start to focus on the upcoming farm bill next year, bu...

Self-Imposed Limits on Policymakers

Governments should not crush the populist appeals of dissenters, but they must find a better way of responding to them. At minimum, this means achieving gr...

Get Ready for Wheat Market Volatility

Recent analysis by WPI suggests the U.S. wheat market is poised for volatility in the coming months. A study of proprietary prices shows the increasing spr...

China In-Country Analysis

Recent reports have documented a decline in China's corn plantings, and  new soybean plantings there are also decreasing as is farmers’ willingness to...

Closing Futures Prices

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

Closing Futures Prices

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

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