There was a notable gain in broiler pullet chick placements for future domestic hatchery supply flocks during July 2015, which indicates an ample supply of...
Articles
Green; White; TPP Stimulant
U.S. agriculture has been scoring some wins in the environmental arena of late, and there is hope regarding another pending ruling. Green Wars U.S. agricul...
The Short Term and the Long Term
Macro issues are currently driving prices as much or more than micro fundamentals such as supply and demand. Commodity markets have been bearish in the rec...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Rationing; Abysmal; Land
The Union of Concerned Scientists (UCS) joins the club of foodies asserting that abundance and affordability are somehow evil concepts, which implies that...
Mercosur Regional Analysis
Traders may wish to note that the recent drop in CBOT prices is not attracting any additional selling of South American soybeans from the coming 2015/16 ca...
Market Commentary
The overnight session found corn and wheat trading both sides of yesterday's closes, while soybeans were mostly firmer. That is the way the day session ope...
Black Sea Regional Analysis
Prices grew everywhere on the Russian market with active buying and selling at the week's beginning, but business then practically came to a halt by its en...
Market Commentary
Any negative economic news about China sends shivers throughout markets around the world, and its PMI falling to a three-year low was no exception. General...
Booming U.S. Feed Grain Supplies
2015 production of grain sorghums, barley and oats is expected to exceed domestic demand by more than 360 million bushels. This illustrates how important e...
Realignment; Outlook; Mouseprint
Pollsters say that Trump's disparagement of the Latino community has not broad-brushed other Republican candidates, but the rise of the anti-corporate welf...
Middle East and Mediterranean Regional Analysis
Egypt has decided to allow 13.5 percent moisture in wheat tender offers for a period of twelve months at the request of France, which has had difficulty me...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Oilseed Highlights
The drop in soybean prices over the last year has obviously helped to boost global soybean demand. However, the increase in global consumption predicted fo...
Consumer Reports Bashes Grain-Fed Beef
The Consumer Reports study was conducted by its Food Safety and Sustainability Center. It tested 300 samples from 458 pounds of ground beef from various pr...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
China In-Country Analysis
China’s recent currency depreciation has raised the cost of imported soybeans and is one factor that has slowed domestic utilization rates. A second factor...
Southeast Europe Regional Analysis
Considering the large carryover stocks in Russia at the start of this season, the combined exportable surplus in 2015/16 in Russia and Ukraine should be ab...
Prioritizing; Non-replicable; Reform
U.S. organic production standards are emotive (not science) based and cheat the philosophy of “all natural” and still fall short of the yields achieved in...
North Dakota Court Puts "Whoa" In WOTUS
There is now further confusion over the WOTUS rule, despite the fact that the EPA and the Army Corps of Engineers published a final rule defining the...
Market Commentary
Markets opened Sunday evening with little change. By morning, however, soybeans were showing double digit losses and corn and wheat were also lower. Genera...
U.S. Net Farm Income Plunging
It’s no surprise. The longest bull market in history followed by the steep collapse in commodity prices has left farmers in the U.S. and around the w...
Clinton Ag Policy Belies Campaign Strategy
While every major presidential candidate with the exception of Donald Trump has at least made a public statement on ethanol while campaigning in Iowa, form...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Food Rot; Taxes; WOTUS; Seeds
The law unanimously passed by the French Parliament requiring that supermarkets donate their food rather than destroy what is likely rotten has now be...
Indian Subcontinent Regional Analysis
After the wheat import duty was introduced as a way to safeguard the interests of the Food Corporation of India (FCI), industry associations, particularly...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
U.S. Corn & Soybean Exports Sales Pace Remains Very Slow
U.S. corn and soybean export sales are lagging far behind those of the past four years, which is a primary concern among bulls and bears alike, and there a...
Market Commentary
It was a relatively calm day across most markets today following a very tumultuous week. Some news stories tied the small rally in the soy complex to the b...
AGOA Slap; Ghanaian Ag
U.S. Trade Representative Michael Froman has reportedly warned his South African counterpart that at least part of that country's benefits under the Africa...
Oilseed Highlights
Concerned there will be too little corn for livestock feed, the current Argentine government plans to offer farmers interest rate subsidies to maintain its...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
U.S. and Canadian Cattle Inventory
USDA reported that the combined total of all cattle and calves in the United States and Canada on 1 July 2015 showed an increase from last year. However, e...
Market Commentary
The new crop soybean market, which would be most immediately affected by China, did manage to post a nice 14-16 cent rally today. Corn futures were higher...
China’s Grain Dilemma
Predictably, China is now reaping the same results that high-price support farm policies produced years earlier in the U.S. and EU. The Chinese government'...
Mercosur Regional Analysis
South America could potentially benefit from present conditions within the global soy complex as there seems to be a delayed beginning of the soybean harve...
Market Commentary
A stronger U.S. dollar, weaker crude oil, generally weaker world grain prices and chatter about the lack of world demand for grains and oilseeds all served...
Black Sea Regional Analysis
The Ukrainian Ministry of Agrarian Policy and Food indicated on 25 August that the country will export 36.83 MMT of grain in MY 2015/16 versus 34.8 MMT in...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Weight Loss Plan; NLEA Fight II
Rural development initiatives tend to be like the latest weight loss plan – full of promise but yielding dubious results. Weight Loss Plan Democratic presi...
What Does the Bond Market Say About the U.S. Economy?
Comparing the nominal yields of five-year Treasury bonds with the real yields of five-year Treasury Inflation Protected Securities (TIPS) may be one of the...
Middle East and Mediterranean Regional Analysis
Officials in Bangladesh have said that the country will import 950,000 MT of wheat in the 12-month period ending June 2016, a significant increase over the...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Market Commentary
Grain and soy futures markets had a relatively placid day, although they swung in relatively wide ranges. However, trading volumes were relatively light. G...
Brazil’s Export Infrastructure Growing Rapidly; Transportation System a Problem
As impressive as the new barge and export facilities are, there continue to be major bottlenecks in the inland transportation system that hinder commodity...
The Uncertainties that Matter
How grain and soy markets react to their own set of uncertainties often ignores what financial markets may be doing.Uncertainty almost always leads to vola...
Transatlantic Divergence
German Agriculture Minister Christian Schmidt has served notice that his government intends to prohibit the use of GM crops otherwise approved by the Europ...
China In-Country Analysis
China's average live pig prices had been moving steadily upward through July, but several macroeconomic factors have had an impact with the first reve...
Bear Market Policies; Less Safe Food
Uncertainty roils many markets but not commodities where there is little hope for a rebound due to no visible path upward. Bear Market Policies Uncertainty...
Market Commentary
World financial markets were getting decimated again when markets opened Sunday, and it was another day of risk off and "get me out" selling. However, that...
Agricultural Espionage
The idea of espionage over farm crops and food is novel to most consumers. However, the U.S. government has identified the sector as ripe for spying for ye...
China, China, China
There have been several important news stories from China in recent days, but the one that deserves more chatter suggests the country might be considering...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Southeast Europe Regional Analysis
At the current export pace of about 3 MMT per month, Russia will dominate the wheat market until next spring. However, two variables could prevent th...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Stats Canada‘s First 2015 Production Estimates
These estimates were basically all below the average trade guesses. The steep reductions in wheat and canola production were the result of the drought that...
Senate Ag Committee to Take Up Child Nutrition Bill
The Senate Agriculture Committee focused on flexibility with new rules at its May hearing on the bill, especially regarding the standards for whole grains...
Market Commentary
The world was selling everything today, including wheat, corn and soybeans. It was as close to a Black Friday as we could get in the financial markets. Tod...
Indian Subcontinent Regional Analysis
The two main foods in the Indian kitchen are onions and pulses,but their higher prices are upsetting the typical household budget. The increases are attrib...
Market Commentary
Reaction to a technically oversold market and debate about the potential U.S. corn and soybean yields, spurred by the Pro Farmers annual Midwestern crop to...
Organic Backfire
Sales of foods labeled as "non-GMO" have apparently skyrocketed, much to the chagrin of organic food producers. Peggy Lowe of National Public Radio (NPR)...
Today’s Unexpected Price Action
Traders must strive to decipher whether today's unexpectedly bullish price action was an upward head fake in a further downward market or the "real McCoy"...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
China: Lower Yuan, Less Hogs; Ruble, Geopolitics and Pork
China's slowing economy and higer prices together with other factors are leading to slower consumer demand for pork and a decline in hog production. While...
Mercosur Regional Analysis
There have recently been promises by Argentine political candidates to remove export taxes on all crops except soybeans. The one certainty is the country w...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Market Commentary
There was an indication today that the stakes were being raised as traders with opposing long and short positions squared off in tug-of-war contests that t...
Influence of Tight Margins
Farm policy and food manufacturer practices are evidence that the agrifood sector is a mature industry existing on tight margins. Farm policy and food man...
Black Sea Regional Analysis
Although Russia's current grain harvest lags behind the results of a year ago, Deputy Minister of Agriculture Sergey Levin announced today that the current...
Clean and Deceptive; Ethanol Attacks
Although some studies have asserted that fructose is worse for health than other sugars such as sucrose, none have the conclusive evidence built against pa...
Market Commentary
Wheat has attractive prospects for 2016, but today's close of the December Chicago SRW contract back below the physiologically important level of $5.00 see...
Oilseed Highlights
USDA's foreast for global 2015/16 rapeseed production indicates a notable decline from last year's record 71.815 MMT. This has implications for many countr...
Economic Growth, the U.S. Dollar and Ag Trade
The federal government's revenues are outpacing its outlays compared with 2014. This and other positive economic factors have strengthened the U.S. dollar,...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Middle East and Mediterranean Regional Analysis
Turkey and Iran are said to be discussing the possibility of importing grain from Crimea as production there is reportedly up by about 23 percent over last...
China In-Country Analysis
Looking back at the data from the beginning of July, China's soymeal inventories have varied region-by-region and week-by-week due to fluctuations in feed...
AGOA; Secret Necessity; Managing the Bear
The Government Accountability Office (GAO) has issued a report describing the conditions necessary for the U.S. to convert the recently reauthorized, ten-y...
Presidential Hopefuls and the RFS
Presidential candidates are hitting Iowa hard with one of the marquee events being the Iowa State Fair. That has led to a number of news items about their...
Market Commentary
Corn and wheat futures were higher most of the overnight session, while the soy complex was lower. However, that pattern reversed itself today. General Com...
Uneventful Trade Until September Crop Report
Demand for U.S. corn and wheat isn't strong enough to change anything, at least not today, although soybean demand could make a difference. The domes...
Southeast Europe Regional Analysis
The Black Sea market remains under pressure as demand is on an "as-needed basis" with buyers in the major destinations reluctant to cover their needs for f...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Market Commentary
All markets were subject to a relative calmness today after a tumultuous week of bearish USDA reports and China's currency devaluations. Meanwhile, the bul...
Weary of India; Overwrought
Although food and agriculture are not on the agenda of next month's U.S.-India Strategic and Commercial Dialogue, the way New Delhi has manhandled Europe's...
More Things to Keep You Up at Night
This week's bearish USDA reports will likely result in farmers doing all they can to store as much of their unsold 2015 production as possible. One problem...
A Look at the Yuan Devaluation
There is no doubt that China's move is bearish for commodities. Putting the devaluation in context, however, China has essentially pegged its currency to t...
Indian Subcontinent Regional Analysis
The government of India's (GOI's) decision to impose a 10 percent wheat import tariff is expected to enable the Food Corporation of India (FCI) to offload...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Market Commentary
After yesterday's major market washout, some sort of recovery bounce was to be expected today, and that is exactly what the market provided. General Commen...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Some Post-Report Thoughts
If there were a record of the margin by which pre-August report trade consensus estimates missed the NASS numbers up or down each year, yesterday's would p...
COOL Retaliation Delayed; Ractopamine Math
As all appeals regarding the WTO ruling against its country-of-origin labeling (COOL) law have been exhausted, the U.S. filed a brief disputing...
Water War; Contrasts in GMOs
Transparency and technology have combined to make policy making a more sophisticated battle over information. Nowhere is this better illustrated than in th...
USDA Report Shakes Up Soy Sector
USDA's higher forecasts for U.S. soy yields and production noted in yesterday's report clearly sent shock waves through the market as they were much above...
Mercosur Regional Analysis
If present global pricing conditions remain for another six-nine months, financial constraints could force Argentine farmers to pull vast quantities of soy...
Market Commentary
Just a quick glance at today's futures closes revealed corn down 19 cents, soybeans off more than 60 cents and wheat down 15 cents, which shows the tone of...
Black Sea Regional Analysis
Ukraine's milling wheat prices dropped under the pressure of lower prices on European markets and increasing offer. Most traders have also completed their...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Wrong Solution; Surprising Critique
India has many problems, but two involve a surplus of sugar that the government may subsidize into the export market and a malnourishment rate of 40 percen...
Middle East and Mediterranean Regional Analysis
Morocco's overall wheat and barley plantings are up by about 11 percent with production expected to increase by 69 percent compared with last year. Wheat i...
Devaluation Game; Tangled Sweetener Web
The U.S. sugar price is artificially held so high that the product is being smuggled across the border, and now it's politically-created distortions are th...
Market Commentary
Grain and soy futures were slammed like most other commodity markets and closed sharply lower. The reaction to the devaluation of the yuan masked the marke...
Oilseed Highlights
Because of the growth in its poultry sector and aquaculture industry, Turkey's consumption of soybeans and soymeal has been rising rapidly in recent years...
The U.S. Dollar, Chinese Yuan and Commodity Prices
While the International Monetary Fund (IMF) is considering adding the Chinese yuan to its basket of "reserve currencies," the world is experiencing an incr...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
The Ides of August
While USDA's August corn and soybean yield and production estimates may be more solid than July's projections, they still may vary considerably up or down...
Ag Review: The Frontier Markets
Ranking the Frontier Markets By using indices measuring certain fundamentals for prospective market improvement, the five best countries are identified for...
China In-Country Analysis
Rumors of state policy shifts are driving down China's domestic corn prices, which is affecting some processors' margins. However, the cornstarch and ethan...
Southeast Europe Regional Analysis
The heat wave persisting across France and central Europe as well as other regions has strongly affected corn crops and impacted the volume that the EU wil...
12 August USDA Report Could Be Significant
There are a number of reasons why USDA's numbers in its 12 August report may have a significant impact on prices.USDA will provide its first corn and soybe...
South Africa; China Subsidies; Science Deniers
The U.S. government is preparing its annual report to Congress on China's compliance with WTO obligations, and among the comments it is likely to receive f...
Market Commentary
Buying in the soy complex accelerated at this morning's opening and eventually took soybean futures more than 30 higher. That strength eventually spilled o...
Scotland Moves to Ban GM Crops
The EU's opt-out measure adopted earlier this year, which allows member states or devolved administrations to restrict or ban GM organisms despite EU...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Indian Subcontinent Regional Analysis
Corn prices in India continue on an upward trend as both supplies and hope for good availability next season dwindle. Similarly, egg prices are also on the...
Russia’s Food Wreck; Sugar for Dairy
The Obama administration has assured U.S. sugar producers that it will not undermine their domestic support program and in return asked that the industry s...
El Nino Getting Stronger
There have been several recent weather issues such as the drought in western Canada and the warm, dry finish to the season in Western Europe, but none have...
Market Commentary
Soybean futures exploded to near 20-cent gains on a warmer and drier weather forecast for the Corn Belt over the next 10-14 days. Wheat turned higher with...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Oilseed Highlights
As the world's two largest soybean-producing nations, the U.S. and Brazil compete aggressively to supply the world's demand. Both countries have excellent...
Market Commentary
Corn futures ended about 3 cents lower today under pressure from last week's relatively small export sales, further evidence that lower Brazilian offers as...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Lighter Broilers and Hogs; Brazilian Beef Imports; Meat and the Global Economy
While the trend toward expanded meat consumption globally will still be a major driver in the agricultural sector, there is one element to be considered. L...
The U.S. Dollar Effect
Back when the U.S. was the major supplier of wheat, corn and soybeans in the world market, currency relationships had only a marginal impact on the volumes...
Pay the Piper; Senate Action
The U.S. Senate is having one of its most productive sessions in years and is spending its last week of session before the August break by rolling through...
Sugar; COOL; WOTUS; Vietnam; Sunscreen
U.S. agriculture and other sectors have filed suit against the Obama administration's efforts to regulate the waters of the U.S. (WOTUS), and now environme...
Mercosur Regional Analysis
Brazil has the means to undercut current USG soybean prices. However, if the present selling opportunities are missed, South American merchandisers may nee...
Black Sea Regional Analysis
Ukraine's milling wheat prices were stable on the domestic market and at the UBS ports. They decreased, however, on the export market due to the increasing...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Market Commentary
Recent estimates by various analytic firms seem uniform in predicting that USDA's yield estimates for corn and soybeans will drop by one amount or another...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Video Conflict; Puerto Greece Example
President Barack Obama has suggested that the Republican-led Congress should pass a law easing Puerto Rico's ability to restructure its debt. However, ther...
Oilseed Highlights
While the record pace of Brazilian and Argentine soybean export sales in 2015 continues, Korea's largest feed miller (Nonghyup Feed, Inc.) yesterday...
Middle East and Mediterranean Regional Analysis
There continues to be a great deal of discussion regarding how Turkey can protect itself against the negative effects of the EU/U.S. Transatlantic Trade an...
Market Commentary
Today's trading of corn contracts was primarily preparation for USDA's 12 August reports. There is far less interest among traders in trying to trigger tec...
Bipartisan Energy Bill Clears Senate Committee
The Energy Policy Modernization Act incorporates pieces of 114 different bills as well as addresses a few of the farm bill energy issues, exports of liquef...
Market Commentary
The soy complex had a day of very wide trading ranges on good (not big) volume. Corn futures had a 6 cent trading range and closed in the middle, down 3-4...
TPP; Renewables; Dollar; Mind Shaping
Ministers supposedly wrapped up 98 percent of the negotiating topics for the Trans-Pacific Partnership (TPP), and optimists say they could meet again later...
China In-Country Analysis
While China's total grain output has stabilized at 600 MMT per year, imports have continued to grow and exceeded 100 MMT last year for the first time in hi...
Southeast Europe Regional Analysis
Russia's wheat exports were slower than expected in July at only 1.3 MMT. There seems to be one main reason for this trend, which is forcing exporters to t...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Low-Price Environment Getting More Headlines
We are now starting to see the headlines in the more traditional news arenas reflect concerns about the crash in profits across the agricultural spectrum.T...
Congress Leaves for August Recess with Business Unfinished
The House of Representatives has recessed for the traditional August break, while the Senate is in session for the remainder of this week before it too adj...
TPP; Concerns and Timing
Trans-Pacific Partnership (TPP) negotiators reached the end of the ministers' schedule time. They are down to just a handful of issues, and there are indic...
Indian Subcontinent Regional Analysis
India's sugar sector continues to suffer from low prices against the cost of production. Little change is expected unless the government of India (GOI) pro...
Market Commentary
Wheat futures tried to sustain a small rally today, but that effort didn't uncover enough buying to offset the weakness in soybeans and eventual weakness i...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Ethanol Export Outlook
Data from the U.S. Energy Information Administration (EIA) shows that ethanol exports to date have totaled more than 377 million gallons though May, while...
More Things to Keep You Up at Night
Record world soybean supplies, the apparent extended shipping of South American soybeans and pretty good U.S. weather have broken the soybean futures marke...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Market Commentary
After falling sharply from the wet weather highs, grain futures markets are quite oversold and due for a bounce, which is what they got today until wheat r...
Oilseed Highlights
Pakistan's soybean imports have substantially increased this year with USDA expecting that volume to more than double in 2015/16. The surge is being driven...
Dodd-Frank After Five Years
It is the fifth anniversary of the Wall Street Reform and Consumer Protection Act, more commonly known as Dodd-Frank, and such sweeping legislation is cert...
Canadians Reject Voluntary COOL
The Canadian complaint about the U.S. voluntary COOL is that it still requires labeling based on where animals are born, raised and slaughtered. That neces...
CFTC; GMO Wars
U.S. House Agriculture Committee Chairman Mike Conaway (R-Texas) has made clear that the Commodity Futures Trading Commission (CFTC) is not going to get th...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Food Politics; Militancy; Economics
French farmers reportedly blocked more than 400 trucks carrying perishable food products from Germany and Spain into France, complaining about the impact o...
Black Sea Regional Analysis
The Hydrometeorological Center of Ukraine raised its 2015 grain estimate to 60.5 MMT, which includes 25.3 MMT of corn. Meanwhile, sunflower seed production...
Market Commentary
Grain futures prices were under pressure during much of today's trading, while soybean prices traded on both sides before closing mixed with old crop Augus...
Mercosur Regional Analysis
The stop-and-go release of corn export licenses, uncertainty about their distribution and falling CBOT corn futures contracts are combining to cause errati...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Middle East and Mediterranean Regional Analysis
Egypt's GASC is reviewing its current position with regard to French wheat moisture levels. It stipulates a maximum level of 13 percent but has allowed Fre...
Chinese Soy Milk
Most of the soy milk consumed in China is obtained from street vendors. White Wave Foods will be entering the market in a joint venture effort to convert t...
Investors, Speculators and Whiplash
Whether one considers them to be investors or speculators, managed funds have collectively taken a real beating in the grain and soy markets during the las...
Ethanol War; Ex-Im Highway
When all sides in a regulatory matter are upset, it means the agency in charge has either found the only middle ground available or has failed altogether t...
Market Commentary
"Turnaround Tuesday" may have become sort of a cliché, but it is true more often than not that Tuesday's grain and soy futures market prices move in the op...
China In-Country Analysis
China's domestic corn prices saw modest improvement last week. The slight rise has been largely driven by a recent supply shortage in the north, which has...
California Dairy Gets Higher Milk Price: Still Seeks FMMO
The reason for the California FMMO petition is to adjust the price of milk that goes to cheese. The state system uses two calculations for pricing nonfat s...
Southeast Europe Regional Analysis
The corn market in the Black Sea is under heavy pressure due to the strong competition from Brazil and Argentina. The price for new crop (October/November)...
The China Syndrome
It's difficult to not worry about demand for agricultural commodities when concerned about China's economy. The country has accounted for 65 percent of the...
Market Commentary
Grain and oilseed markets gapped lower Sunday evening, and those losses accelerated throughout today's session before markets closed. The 8 percent drop in...
Technology; Meaningfulness; Balance
U.S. President Barack Obama's decision to upgrade Malaysia's status as a Tier 2 level trafficker in human beings enables that country to continue its aspir...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Chilean Food Label Law and the U.S. Junk Food Warning Idea
A new food label law in Chile requires that packaged foods high in calories, saturated fat, refined sugars or sodium bear stop sign-shaped warning notices...
Market Commentary
Fund selling continued overnight and today, which pushed corn, soybean and wheat futures sharply lower and at/or below key technical support. There were se...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
2015 Crop Comparison
At a meeting of farmers this week in southeastern North Dakota, which was sponsored by the regional Farm Business Management group from the local college,...
Oilseed Highlights
Industry predictions of a decline in EU rapeseed production are being confirmed by sharply lower yields in Germany. Farmers there are harvesting at least 2...
Indian Subcontinent Regional Analysis
Indian wheat prices continue to move upward in the midst of high quality (high protein) imports from Australia. There is a demand from the Food Corporation...
Senate Action; ROW Subsidy; No Warnings
Congressional Democrats are reportedly pressuring the Obama administration to deny the domestic pharmaceutical industry's ambition of acquiring longer pate...
GMO Labeling; Carbon Caps; Rural Development
The U.S. House passed (275-150) the Safe and Accurate Food Labeling Act of 2015, which would preempt states from imposing mandatory labeling of GM foods. H...
It’s Either Too Hot or Too Cold
For the last decade, the general public has been bombarded with innumerable dire warnings about the current and future impact of global warming, and the po...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Market Commentary
Soy futures were under pressure throughout the day session with soymeal giving up its heretofore bullish posture. Meanwhile, wheat futures finally closed h...
Bird Flu Recovery, Restocking and Prevention
Egg-layer farms are getting ready to restock now after the highly pathogenic avian influenza (HPAI) strain that broke out in Iowa this past April. However,...
Mercosur Regional Analysis
One potential reason for the slowing interest in the Argentine soybean market is assumed to be a carry that had developed in local prices. This carry is no...
Black Sea Regional Analysis
Russia has exported 434,000 MT of grain as of 15 July 2015 and from the beginning of MY 2015/16, a 56.9 percent decrease compared with the same period in t...
Market Commentary
Grain and soy prices have been slowly eroding again because of several factors. Noncommercials that piled into long positions during early July's rally hav...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
What about Demand?
Ultimately, demand is just as important a market factor as supply, but it is often more difficult to quantify with its ever-changing array of variables.In...
Biodiesel Production Credit; GMO Labeling Preempt
Legislation (H.R. 1599) that would preempt state-level GMO labeling laws, amongst other things, has attracted efforts to amend the bill when it comes to th...
Middle East and Mediterranean Regional Analysis
Wheat importers in Sudan, Yemen and Madagascar may find that they will be able to purchase low-cost stocks from Pakistan. The government there is said to b...
Market Commentary
With a generally benign weather outlook, the corn and soy markets had little to trade on today, and the light volume reflected that. Meanwhile, wheat conti...
RIN Market Turnover
In an effort to provide more transparency to the market, the U.S EPA published data this month on Renewable Identification Number (RIN) ownership under the...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Oilseed Highlights
Chinese government data indicates the country imported 8.09 MMT of soybeans in June, primarily from Brazil and Argentina. Trade sources indicate an additio...
Market Commentary
Funds continued to shrink their long positions in all markets as the technical picture has turned bearish over the past several days of market action. ...
Organic Hypocrisy; Greek “Reforms”
The distortions and obfuscations that define the organic food industry were well illustrated by a recent presentation in Washington by a representative of...
Southeast Europe Regional Analysis
Romania usually exports a very limited volume of feed wheat as the average protein level is above 11.5 percent and gluten is usually above 25 percent...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Implications of the Low Price Environment
All segments of agriculture have been hugely profitable during this six-seven year bull market, but there are potentially negative consequences for many go...
China In-Country Analysis
U.S. DDGS exports to China surpassed 860,000 MT in May, a 48 percent increase over the same month a year ago. Although the June figures are not yet av...
Greece and the Long-Term Outlook of the Euro
The steps back to normalcy in Greece have had a short-term impact on southern Europe. With yields falling today on Portuguese, Spanish and Italian governme...
Market Commentary
Wheat has few friends on a good day, so it didn't have much of a chance to trade higher when corn and soybeans were both weak, which was the situation toda...
Food Politics; Media Error; Bullishhh
U.S. Senate appropriators have decided they know best how to safeguard public safety and health in the food sphere, as evidenced by the USDA and FDA 2016 f...
Iran Deal’s Impact on Oil Markets
The commodity interest in this deal pertains to the potential impact that the lifting of sanctions might have on global oil markets. Provided the agreement...
Indian Subcontinent Regional Analysis
The Food Safety and Standards Authority of India's (FSSAI's) draft order that would potentially ban the use of meat cum bone meal (MBM) in animal feeds is...
More Things to Keep You Up at Night
The corn/soybean yield debates continue, and there are big swings in the various yield and acreage estimates. USDA will include its special acreage survey...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Market Commentary
The overnight session produced higher corn and soy prices, while wheat traded lower. However, funds returned as buyers early in the day session, which prop...
Chicken Expansion
While U.S. broiler production is forecast to grow in 2015 and 2016, two remaining unknowns are next year's corn and soymeal prices as well as what might oc...
Oilseed Highlights
The U.S. soybean industry was a strong supporter of the U.S.–Colombia Free Trade Agreement (FTA) when it was being considered by Congress in 2011. It belie...
Single Agency; TPP and Canada; Tax Extenders
Proponents hope to move a bill in the U.S. Congress that extends 52 tax credits that are under a philosophical attack by opponents who deem them to be corp...
The Competition Game
While world trade in wheat, corn and soybeans was dominated by the U.S. for many years and into the 21st century, the global push for agricultural producti...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Black Sea Regional Analysis
The Ukrainian grain markets saw an increase in both domestic and export prices for feed barley, corn and several types of wheat. Contributing factors were...
Mercosur Regional Analysis
Today's weak price action in the soy complex is party reflective of the effort by Argentina's soybean exporters to go head-to-head against their U.S. count...
Iranian Market; Selective Science
USDA Secretary Tom Vilsack justifiably criticized the U.S. beef industry today for hypocrisy in regards to efforts by some industry groups to stall a USDA...
Market Commentary
Grain and soy futures traded mostly lower overnight in average volume. Corn's technical reversal yesterday set a negative tone along with weather forecasts...
Market Commentary
Markets seemed to have taken a cold shower in the interim between the overnight and the day sessions as a much different attitude seemed to prevail today...
Transatlantic GMO; Research; Comparative Advantage
Proponents of increased publicly-funded agricultural research are demanding that the Congress better study the issue, warning that funding is stalled at th...
Middle East and Mediterranean Regional Analysis
Egypt' recent rate of population growth, 22.3 percent between 2006 and 2015, could mean a total of 100 million or more in less than five years. This will h...
Oilseed Highlights
The market has been very focused on China as the driver of global soybean and soymeal demand for good reason. However, there are other populous countries d...
Topics Not Involving Crop Prospects
Whether or not the Food and Drug Administration (FDA), which considers GM foods to be safe, should require that foods containing GM ingredients or made fro...
Near-Term Price Projections
Because of current conditons, both Kansas City and Chicago wheat contracts will take price directions from corn contracts for a while longer as it is prese...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Senate Ag Appropriations
The Senate bill was passed in subcommittee by voice vote with no amendments and will be taken up by the full Senate Appropriations Committee on 16 July. It...
A Potentially Explosive Soybean Market
The July WASDE released Friday cut U.S. 2014/15 soybean ending supplies all the way down to 255 million bushels and estimated that 2015/16 U.S. soybean end...
Appropriations Bills Going Nowhere
The Republican-controlled Congress has been pursuing appropriations bills based on the sequester targets, which the White House has promised to veto. All o...
Market Commentary
Corn's trading pattern today was almost the same as the soybean market with early weakness and a gradual increase in fund buying. Meanwhile, wheat struggle...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
China In-Country Analysis
OilseedsSmall Decline in Soymeal InventoriesAfter nearly a month of steady increases, the estimated soymeal inventories of major crushers fell last week to...
Southeast Europe Regional Analysis
Although both Romania and Bulgaria planted about 10 percent less wheat this past fall because of the excessive rains, the crops may be very similar to last...
China In-Country Analysis
As market pessimism mounts in China, last week's average domestic corn price fell. A survey with traders, though, indicated that cornstarch prices did rise...
TPP Momentum; Sweet Solution
After spending several days in Tokyo, Acting Deputy U.S. Trade Representative Wendy Cutler indicated confidence that she and her Japanese counterpart are o...
“Free Trade” that Changes Nothing
Canadian Trade Minister Ed Fast says he sees no reason his country needs to change its supply management systems for dairy and poultry in the Trans-Pacific...
Market Commentary
The corn numbers were the most supportive today, while soybean futures rallied to as much as 20 cents higher following the WASDE release before dipping to...
Indian Subcontinent Regional Analysis
With greater demand for pulses anticipated in the coming months and a lower-than-normal monsoon projection, the government of India (GOI) has already...
Snack Attack
The recent report from Mintel indicates notable changes in the snacking habits of Americans from just a year ago. The big driver of the modern snack renais...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Very Mixed USDA July Reports
While some thought USDA might adjust U.S. corn and soybean yields because of the wet conditions across the eastern Corn Belt, that type of revision would h...
Market Commentary
Today's rally in soybeans and corn came as a result of the confluence of several factors. There was the Chinese market recovery, more heavy rain in the eas...
Risky Business
Recognizing risks and adequately managing them is a key function in the operation of any commercial activity, and it is especially so for agribusiness.The...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
GMOs; Doha; Climate Change; Economy
While Europe throws up barriers to GMOs, including imposing an approval process that takes twice as long on average as the U.S. regulatory path, Canada is...
Oilseed Highlights
Brazil's soybean processors should be enjoying excellent crush margins after the country harvested a record-high crop, but a combination of rising soybean...
Red Meat Exports Down in May
According to the U.S. Meat Export Federation (USMEF), the country's beef exports dropped in May by 14 percent in volume and 6 percent in value compared wit...
Mercosur Regional Analysis
The recent selling of Argentine soybeans for October and November at this time of year is unusual. A point of consideration is that if the sales volume doe...
Ag Review: Sustainability and Agriculture
Defining Sustainability Activists, ecologists and economists have all battled over the concept of sustainability, though no one doubts it is an infinite dy...
Black Sea Regional Analysis
Russia's new marketing season started 1 July, but there was no traditional decrease of prices as the new harvest grain entered the market. Instead, prices...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Market Commentary
Although traders are still nervous about possible fallout from the Greek situation, the greater potential for commodity market impact comes from China wher...
TTIP; GMOs; Horses
An EU Commission meeting next week is expected to hear widespread opposition to its proposal to allow individual member states to opt out of food and feed...
Middle East and Mediterranean Regional Analysis
Turkey's soybean imports have increased by about 30 percent over the past three or four years and are expected to rise by another 200,000 MT in 2015/16. In...
Subsidies; Government; China; 483
Legislation has again been introduced in the U.S. Senate to consolidate food safety enforcement in the U.S., although the bill isn't moving anytime soon. C...
Market Commentary
The overnight price weakness carried over into the day session with the strong U.S. dollar and China's weakening economy keeping prices under pressure. Gen...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
House Ag Committee to Consider Impact of Reversing Crude Oil Export Ban
One of the more interesting aspects of lifting the ban is the impact it could have on U.S.-EU trade as the EU's strategic need for crude oil could change t...
Outside Influences
It becomes difficult to separate grain and soy market fundamentals from all of the current outside influences. Some of those such as the U.S. dollar and th...
Oilseed Highlights
India's declining soybean production and rising consumption have resulted in a steady growth of its vegoil imports in recent years, which Oil World has est...
Market Commentary
Agricultural markets followed the financial and energy markets lower overnight and early today, but we started to see some significant separation once toda...
Congressional Schedule: 28 Legislative Days Until New Fiscal Year
With no appropriations bills completed, Congress will be back in session tomorrow with 16 legislative days before the month-long August recess. It will the...
China In-Country Analysis
As the estimated soymeal inventories for China's major crushers showed a notable gain last week, the uptick in soybean shipment arrivals and higher utiliza...
Greece; GMO Regs; Trade Negotiations; Aussie Ag
The worst part about the current situation with Greece is uncertainty, but things are not that bleak or uncertain. Greece Known Knowns The worst part about...
Corn Supply/Demand Tightening
The very wet conditions across the eastern Corn Belt have caused other problems in addition to lost acres. Corn is or has been standing in water in many ar...
Southeast Europe Regional Analysis
The Black Sea market was active last week as a significant volume of Russian wheat changed hands. A majority of the trades were between multinational tradi...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Hogs and Pigs Report; JBS to Buy Cargill Pork
The USDA Quarterly Hogs and Pigs Report released last Friday indicates the market hog inventory is up 9.4 percent, but that isn't a reliable benchmark due...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Oilseed Highlights
Most in the trade appear to have concluded that the lower soybean stocks noted in USDA's report on Tuesday indicate that it overestimated the size of...
FoE Half Right; Meaning/ful
A survey by the Pew Research Center on American opinions toward GMOs and pesticides indicates that if Big Ag was ever in the fight against its antagonists,...
A Tumultuous Week
USDA's 30 June numbers were mildly bullish for corn and soybeans, and the persistent heavy rainfall over southern and eastern portions of the Midwest has p...
FoE Half Right; Meaning/ful
A survey by the Pew Research Center on American opinions toward GMOs and pesticides indicates that if Big Ag was ever in the fight against its antagonists,...
Market Commentary
Prices swung in wide ranges on both sides before finishing with relatively small changes. Drawn by the rather dramatic change of market momentum this week,...
Market Commentary
The CME announced that trading volume in its agricultural products set a record of about 2.857 million contracts yesterday. The day session today did not r...
Black Sea Regional Analysis
While the Ukrainian grain markets saw mostly stable domestic prices during 22-26 June 2015, feed wheat prices at the Ukrainian Black Sea (UBS) ports contin...
Mercosur Regional Analysis
Brazil and Argentina took advantage of this week's rise in CBOT contract prices. In comparison, U.S. soybeans are so expensive that there is even talk of s...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Bias; Preemption; Doldrums
A federal judge has just ruled that a county ban in Hawaii against the cultivation of GM crops is preempted by federal and state law. Such federal assertio...
Middle East and Mediterranean Regional Analysis
The Egyptian government announced that it plans to update/repair all port discharge equipment. This is intended to significantly reduce the unloading time...
Oilseed Highlights
Today's USDA planted area report indicated U.S. farmers planted or intend to plant 85.139 million acres of soybeans, a greater number than USDA's Prospecti...
Drill It and They Will Build
Increased refinery runs, based on growth in both capacity and utilization, have helped accommodate gains in U.S. crude oil production. That production aver...
USDA’s Acreage and Quarterly Stocks Reports
These reports contained a few of the usual June surprises, mainly in the quarterly stocks numbers, and the grain and soy futures markets continued their hi...
Market Commentary
Following the release of today's USDA reports, there was a huge inflow of managed money into the grain and soy markets seeking to buy everything across the...
Millennials; Organic Marketing
Greece is teetering on a Grexit, Puerto Rico officially acknowledged that it lacks the funds to pay its creditors, the Middle East remains on fire and Chin...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Market Commentary
Trading volume today was quite large with funds again very big players as the short covering in wheat and corn continued. Commercials were reported as heav...
Greece; Cost: Benefit; Brazil Ethanol Tax
As lawsuits get filed against U.S. EPA's recent rule restricting agricultural (and other) impacts on waterways, some are hoping a separate ruling today by...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
House Ag Subcommittee Examines Label Claim Oversight Infrastructure
There has been a spate of state and local regulations as well as proposed referenda on labeling of GM foods and crops. The hearing was intended to provide...
USDA Acreage Numbers Will Be Important
These acreage estimates for corn and soybeans have also taken on more importance because we are starting to see some doubt expressed over the latest USDA y...
Southeast Europe Regional Analysis
The EU's barley exports licenses for the current campaign total 3.3 MMT more than a year ago, which more or less corresponds to the increase in its imports...
China In-Country Analysis
China's domestic corn prices fell last week because of sluggish demand from the deep corn processing industry. Meanwhile, the average cornstarch price did...
Reorganization and Budget
The current budget situation is only partially the result of the Republicans now controlling both houses of Congress. The White House says that the automat...
U.S. Winter Wheat Crop Has Problems
This has been a terrible harvest season for the U.S. hard red winter wheat crop with no end to the rain after three-four years of drought. The crop was mat...
Indian Subcontinent Regional Analysis
While the Food Safety and Standards Authority of India (FSSAI) is adopting more stringent rules and procedures for domestic products, it is changing its me...
Market Commentary
Price action closed out this week in a dramatic manner that accurately reflects the increased uncertainty among a diverse group of traders. The greatest ch...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Farmland Values
This is the second year of what could be a multi-year correction in farmland prices due to lower commodity prices, increasing interest rates and slower inv...
The Potential Surprise of USDA’s 1 June Quarterly Stocks Reports
With all of the focus directed to the release of USDA's planted acreage estimates next Tuesday, the 1 June quarterly stocks reports, which will also be iss...
Big Week; Sugar; RFS
An orchestrated effort to change the supply management approach to the U.S. sugar market has been on hiatus for at least a decade, but that is about to cha...
Market Commentary
Traders lured into short positions in the market by visions of another year of big crops on top of large carryout volumes decided they could no longer bear...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Oilseed Highlights
While it is still relatively early in the growing season, there is increasing concern about the impact heavy rains will have on key soybean-growing states...
Author Calls Dietary Guidelines Unconscionable
Nina Teicholz, author of New York Times bestseller The Big Fat Surprise, asserts that the bias against meat had its origins in a 1961 report from the Ameri...
Mercosur Regional Analysis
Argentine market participants are buoyed by the expectation that the U.S. will be unable to fully meet growing Chinese sorghum demand. While there are othe...
Market Commentary
Today's up-and-down price action in grain and soy futures markets is typical market fare leading up to key USDA reports, which in this case are the 30 June...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Prognosis; Implications; Bipartisanship; Taste
The American approval of TPA shifts the international focus to the Trans-Pacific Partnership (TPP), but what are the implications of the former on the latt...
Black Sea Regional Analysis
Prices continued decreasing in the European part of the Russian grain market. This was especially true for barley and wheat, although the causes were somew...
USDA Issues Report on Cuba Potential
USDA's Economic Research Service has released a report that discusses the potential to foster additional growth in U.S.-Cuba agricultural trade and the pos...
Oilseed Highlights
In order to supply European firms seeking non-biotech soybeans and soymeal, the German farming company KTG Agrar AG has sharply increased its plantings of...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Market Vibrations
Market prices were driven steadily lower for much of the last six months, largely by the abundance of U.S. and world supplies of grains and soybeans. Never...
Market Commentary
The 30 June reports on acreage and quarterly stocks are already affecting grain and soy markets a week in advance. The apparent decline in crop conditions...
Middle East and Mediterranean Regional Analysis
The Iranian government forecasts wheat imports will drop to 2 MMT this year as it plans to purchase as much as 7.7 MMT of the expected 11 MMT in domestic p...
Southeast Europe Regional Analysis
Strategie Grains, the French analytic firm, is forecasting that the EU 2015/16 wheat balance will be heavier than the current campaign for two primary reas...
Brazilian Subsidies; False and Clever Choices; China
Brazil may reportedly challenge America's Agriculture Risk Coverage (ARC) program that is in the 2014 Farm Bill. However, there are at least two reasons wh...
China In-Country Analysis
Several mid- and long-term fundamental trends in China have contributed to declining pig stocks in May compared with the previous month and the same period...
Market Commentary
Corn again struggled to follow the strong rallies in wheat and soybeans today. The trade apparently believes the wet conditions haven't affected corn acres...
Crop Ratings – A Life of Their Own
While the majority of market participants seem to know that crop conditions are rather subjective and statistically insignificant in relation to the final...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Supreme Court Rules Against Raisin Marketing Order
Today's Supreme Court ruling against the federal raisin marketing order sets a precedent for many other such orders for specialty crops as well as for milk...
Indian Subcontinent Regional Analysis
With the current threat of El Nino, which could curb monsoon rains and negatively impact India's agriculture, GOI is taking steps to move farmers away from...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Market Commentary
Soybeans were weak early in the session, but light fund buying brought prices back to unchanged before noon. It was a big week for soybeans as they traded...
The Acreage Discussion Picks up Some Steam
The discussion now centers on how many total acres of corn and soybeans were planted or will still get planted as well as how the mix between both crops ha...
House Subcommittee Passes Ag Appropriations
The overall spending for discretionary programs and mandatory nutrition programs totaled $143.9 billion, which is $3.2 billion less than the president's bu...
Oilseed Highlights
Reports out of China indicate the government has decided to end its program of purchasing and storing rapeseed and rapeseed oil as a means to support farme...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
COOL Retaliation Turns to Arbitration
The U.S. has notified the WTO that it will seek arbitration over its mandatory country-of-origin labeling (COOL) statute and the latest ruling against...
Market Commentary
After three days of higher futures prices, mainly as a result of noncommercial short covering, grain and soy futures markets seemed due for a breather toda...
Market Cycles
It is the cyclical nature of freely-traded futures markets that attracts traders and trading volume. If futures prices did not move up and down, there woul...
TPA/TAA Machinations; the Pope; Cotton Speculation
Pope Francis, whose upbringing was in the anti-elite populism of Argentina, now resides over perhaps the wealthiest institution on earth. Yet, he continues...
TPA; RFS; Organic; Welfare; Economy
Legislation has been introduced in the U.S. Congress to eliminate the Renewable Fuel Standard (RFS), but it has no chance at enactment. However, more notab...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Mercosur Regional Analysis
Argentine soybeans are being offered at around 30 SN for July and August, but demand has disappeared because Chinese buyers seem to believe that there will...
Market Commentary
Grains and the soy complex were trading factors other than interest rates today. Weather and technical considerations once again dominated grain markets, b...
Black Sea Regional Analysis
With favorable weather conditions reported for Russia's spring and winter crop development, Rusagrotrans, the nation's largest grain transportation provide...
Oilseed Highlights
Although soymeal imports for Australia and New Zealand have rapidly increased since 2000/01, the interesting change has occurred in both countries' preferr...
Currencies; Pope Omissions; Miscellany
While it is believed that Havana will soon end its dual currency system, there is a suggestion that Greece emerge out of its debt crisis by instead adoptin...
Refreshing the View
The most specific, direct influences for grain and soy markets appear to be USDA's various reports and weather, but the fundamental message we see is that...
Market Commentary
Corn was pulled higher by the strength of soybeans. However, wheat markets shrugged off lower winter wheat crop ratings and prospects for more rain to clos...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Fed Decision on Interest Rates Tomorrow
The debate in monetary policy for most of the year has regarded when the Federal Reserve will increase interest rates for the first time in nine years. The...
Middle East and Mediterranean Regional Analysis
Pakistan has announced its intention to raise the soymeal import tariff from 11 to 21 percent as of 1 July, which is expected to boost its soybean imports...
Southeast Europe Regional Analysis
Since the Russian government lifted the export tax on wheat approximately one month ago, there has been no real pressure on old crop prices. Instead, old c...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
China In-Country Analysis
Since early March 2015, the average soymeal price has been on a constant downward slide. We expect this trend to continue, as demand from downstream users...
Low Prices and Large Old Crop Supplies Causing Farmer Angst
Farmers now face a predicament they haven’t faced since the bull market started nearly 10 years ago: they are carrying large old crop supplies and have sol...
TPA Angst; WOTUS Lobbying; Unscientific Scientist
Reversing Friday's defeat of Trade Adjustment Assistance (TAA) by legislators will require more than just a few days of lobbying and a change in the legisl...
China In-Country Analysis
Since early March 2015, the average soymeal price has been on a constant downward slide. We expect this trend to continue, as demand from downstream users...
Trade Victory for U.S. Chickens in South Africa
U.S. chicken products have been blocked from South Africa since 2000 – the same year that the United States passed the African Growth and Opportunity Act (...
Market Commentary
Corn struggled under the pressure from the wheat market plus thoughts that the corn crop ratings might improve in today’s weekly report. The trade seems un...
WOTUS Rule Backlash
Yesterday the American Farm Bureau Federation (AFBF) issued a fact-check document rebutting the agency's "Fact Sheet" on the final rule, which also provide...
Market Commentary
It was a reverse crush day in the soy complex with soybean futures slightly lower most of the morning and meal and oil futures a bit higher. That pattern c...
Indian Subcontinent Regional Analysis
With exports at a standstill and with only domestic buyers, sugar prices in India have crashed and are likely to remain so in 2015/16 as oversupply has had...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
TPA’s Chance; Regressive West; Private Standards
President Obama will get another chance at House passage of the Trade Adjustment Assistance (TAA) bill, but it will require successful maneuvering of...
Oilseed Highlights
In January, the U.S. EPA approved the importation of Argentine soy-based biodiesel under a streamlined procedure, and now Argentina's shipping agency Nabsa...
Control of Production, Consumption; WOTUS; COOL
With nearly a billion people, many knowing hunger firsthand, Indian Prime Minister Narendra Modi has asked a new economic think tank called Niti Aayog to p...
Market Commentary
The soy complex picked up speed in downward momentum today, and wheat contracts also had sizable selloffs. The decline in corn slowed, however, presumably...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Trade Promotion
The eventual growth and dominance of domestic producers within nations is generally the reason that governments are eventually incentivized to build up pro...
COOL Repeal
The U.S. House of Representatives passed a bill last night to repeal the country-of-origin labeling (COOL) requirements for beef, pork and poultry. The nex...
Black Sea Regional Analysis
The Russian Ministry of Agriculture announced that 29.065 MMT of grain were exported as of 3 June 2015 and from the beginning of MY 2014/15, a 17.7 percent...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
GMO Opt-Out Trouble; TPA Vote; Precaution Fix
There has been plenty of analysis detailing how neither Washington nor Brussels has a monopoly on the imposition of precaution in product risk assessments...
Market Commentary
USDA did not anticipate any change in the average corn farm price because of a minor adjustment in this season's ending stocks, detailed in the June...
Middle East and Mediterranean Regional Analysis
There have been comments in Egypt that lower-priced, imported wheat is being sold to the government as domestic stock because of its high purchase price. G...
Oilseed Highlights
A combination of declining global prices for soybeans and soymeal together with China's corn price supports has resulted in soymeal and corn now trading in...
Market Commentary
Indecision was the uniform message conveyed today by the charts of corn, wheat and soy complex futures contracts. The wheat market is also a promising bull...
El Nino’s Influence and 2015/16 Grain Prices
The current El Nino will affect more than just U.S. grain and oilseed production, and those other developments can influence world market perspectives, whi...
Busy Day For Ag Issues: CFTC, MPR, Grain Standards
Several ag-related bills have been brought to the House floor under a suspension of the rules, which is a parliamentary procedure to expedite the considera...
Trade Opponent Thinking; Leadership; Bleach
G7 leaders meeting in Germany this week boldly pledged to end hunger for 500 million people by 2030. Given the fact that the number of malnourished has bee...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Cynicism; Precaution; Fantasy Agriculture
As happens often, government may have the best of intentions but uses a tin ear when gauging public interest and action. Farmer Eat Farmer World As happen...
China In-Country Analysis
The imported corn reserve auction sales are currently expected to reach only 10 MMT through September. Because of the large national corn inventory, this w...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Market Commentary
The soybean market had another fairly volatile session today. There is still some concern about soybean planting progress because of the wet weather across...
USDA Report Preview
USDA will revise winter wheat yields and, perhaps, harvested acres.Some downward adjustments in the world wheat crop are also possible with a great deal of...
Southeast Europe Regional Analysis
The EU has now allocated 777,000 MT of the available 950,000 MT duty-free import licenses for Ukrainian wheat. Once the duty-free quota has been completed,...
Ag Review: Agriculture's Bear Market
Unsustainable Bears At least seven factors in the modern era prevent agriculture from falling to the historic construct of a long-term bear market followin...
More Things to Keep You Up at Night
Despite shuttle rail freight values that are now $200-400 per car UNDER tariff through September, there is no demand. Farmers are unhappy with both old cro...
Indian Subcontinent Regional Analysis
The market yard corn price in Bihar has been declining after the recent harvest there. Demand has also been low from the poultry sector as a result of the...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Much Ado – CFTC; Grexit versus Brexit; Ag-Gag Gag
The Greeks appear to have lost any semblance of sympathy from key European countries negotiating its rescue out of bankruptcy. Meanwhile, Swedish business...
House Ag Committee Looks at Global Farm Subsidies
The scope of agricultural subsidies is large and comes in many forms. According to the OECD, the estimated support to farmers was about $492 billion global...
Market Commentary
Markets surged to big gains in corn, wheat and soybeans in the first two hours of today's trade but couldn't hold above technical resistance, and the selli...
Market Commentary
It is hard to put a finger on what sponsored the stronger grain and soy markets. The rally was not widespread across other commodity markets. Last week's e...
Strange Views on Trade
In the past, the goal of increasing trade, especially agricultural trade, enjoyed nearly unanimous bipartisan support. Thus, the current debate raging over...
Oilseed Highlights
Following China's approval of the Syngenta corn event last December, U.S. DDGS imports to that country have resumed steadily. However, some in the trade fe...
Pork Producers and Meat Institute React to White House Statement
The head of the NPCC expressed disappointment with a recent administration statement regarding federal and White House procurement of hormone- and antibiot...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
ExIm versus MAP; Natural Booze
The Export Import Bank of the U.S. (ExIm) is set to expire at the end of the month, which has spawned a brawl between Boeing and U.S.-based airlines over t...
Market Commentary
The U.S. dollar's up-and-down indecisiveness was mirrored by grain and soy futures as well as other commodity markets. All of the grain and soy complex con...
Trade Offensive; Climate Democracy; Poor Ag
Most of the public discussion about TPA and pending trade negotiations has focused on negative issues. However, the USTR is trying to create a more balance...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Black Sea Regional Analysis
Ukroliyaprom, the Ukrainian oil industry association, has forecast the country's MY 2015/16 oilseed harvest at 17.195 MMT, a 6.3 percent increase compared...
Mercosur Regional Analysis
An important point to consider is that the future of Argentine wheat production will be influenced by the ability of soybean and corn exports to put some r...
Oilseed Highlights
The government of Brazil today proposed raising the agriculture sector budget by 20 percent. Considering that it is cutting expenditures elsewhere, this wa...
Middle East and Mediterranean Regional Analysis
The barter arrangements between Russia and Iran are said to have been finalized to some degree as it is reported that the latter will export poultry meat i...
Market Commentary
U.S. grain and soy futures markets, particularly Chicago wheat futures, are as sensitive to changing U.S. dollar values as other commodity markets and more...
New Feed Rule Part of White House Summit on Antibiotics
Today's White House Forum on Antibiotic Stewardship included the president signing a memorandum directing federal departments and agencies to create a five...
A “What If” Scenario for U.S. Corn
Even though USDA has estimated that 2015/16 ending corn stocks will be lower than what is predicted for 2014/15, not much imagination is required to envisi...
More Complete Analysis
A news report cites a survey of 4,200 U.S. consumers by a group called CivicScience that found far more concern about preservatives and chemicals in food t...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Blender Pump Brouhaha
As U.S. EPA issued its proposed Required Volume Obligations (RVOs) under the Renewable Fuel Standard (RFS) last Friday, USDA Secretary Tom Vilsack also rel...
China In-Country Analysis
The combined effects of sluggish demand from downstream users and the large surplus of corn forced Chinese processors to take significant price hits last w...
Weather Pushes Wheat and Canola
While weather made a return visit to the wheat market this morning, very preliminary estimates indicate that another weekend frost/freeze across southern M...
Southeast Europe Regional Analysis
Russia announced a new wheat export tax that begins 1 July, which is related to the USD/ruble exchange rate and is intended to help the government with a s...
TPA – and the Ayes Have It
The effort by organized labor against TPA is unprecedented, and the inclination is to bet against the bill passing except that it has such horrible implica...
Market Commentary
Corn couldn't follow wheat higher or soybeans lower today and traded near unchanged until a last minute rally pushed the market 1-2 cents higher, which mig...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Market Commentary
The EPA data released today was just as bearish as market participants were expecting for corn and more bullish than expected for soyoil. General Comments...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
What More Could A Buyer Want?
With low ocean freight rates, growing demand and strong supplies (among other factors), it would be difficult to find better market conditions than current...
TPA Schedule
The House Republican leadership indicated that Trade Promotion Authority (TPA) could be brought to the floor for consideration in June, but there was not a...
U.S. EPA Announces Biofuel Targets for 2014, 2015 and 2016
Today's announcement met the EPA's committment under its proposed consent decree, which was intended to settle the lawsuit filed by two major petroleum tra...
Indian Subcontinent Regional Analysis
Heat wave conditions are prevailing across India, strongly impacting poultry farmers as well as dairy operations. There are also implications for crops wit...
Oilseed Highlights
Argentina's government yesterday raised the export tax on biodiesel by 164 percent, applicable to exports made in April. The head of the Argentine Biofuels...
Dumbing Down; Best Tweets
The Nebraska legislature is receiving a great deal of attention this week for ending capital punishment in the state, but it also decided against passing a...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Antibiotic Use Still a Hot Topic
The Oregon State Senate is considering a bill that would ban routine use of antibiotics but allow for their usage to treat sick cattle, hogs and birds.Mean...
Antibiotic Use Still a Hot Topic
The Oregon State Senate is considering a bill that would ban routine use of antibiotics but allow for their usage to treat sick cattle, hogs and birds. Mea...
Pseudoscience
While the U.S. agencies responsible have worked well enough to make foods in the country consistently the safest in the world, there are food critics who d...
Market Commentary
Soybean and soymeal prices had been buoyed recently by the Argentine strike situation that had shut down crush plants and snarled export loadings. Today's...
Market Commentary
Although grain and soy futures prices are very low, in some cases at or near multi-month or multi-year lows, the technical profile across the entire market...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
WOTUS; Farm Washing; Africa
The regulated view the final Waters of the U.S. (WOTUS) rule with at least suspicion, and the National Farmers Union, which supported the earlier draf...
Black Sea Regional Analysis
With domestic usage accounting for just a small percentage of its annual sunflower meal production, Ukraine may soon have a new market if it meets the expo...
Mercosur Regional Analysis
Argentina's financial instability has led to inflation, which is generating labor disputes that in turn are having a serious impact on the entire supply ch...
Oilseed Highlights
The union representing workers at Argentine oilseed processing plants in Rosario plans to continue its current strike that has shut down soybean processing...
Middle East and Mediterranean Regional Analysis
The Egyptian government reported that it has purchased a record volume of local wheat that is said to be well above its target at a price much higher...
Exploitation; Helplessness
U.S. and Japanese trade negotiators reportedly met three times during Trans-Pacific Partnership (TPP) talks in Guam on the issue of access for American ric...
Market Commentary
The surging U.S. dollar steamrolled over just about everything else that might have affected grain and soy futures prices today and put the blocks to nearl...
COOL Repeal Unlikely to Pass Senate
While the repeal of COOL is expected to pass the House handily, the Senate scenario is not so bullish for the statute's opponents as there is still a stron...
Demand is the Thing
Prospects for demand should not be ignored. When it comes to supply/demand analyses for grains and soybeans, it is the yardstick by which we judge the adeq...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Perfect
World weather has been very cooperative over the past two years, resulting in record world crop production, increasing supplies and lower prices. We starte...
Crop Insurance Program’s Conservation Compliance Due in Two Weeks
Conservation compliance was a controversial provision in the 2014 Farm Bill and was originally proposed to cover only program crops. When specialty crops w...
Market Commentary
Corn lost ground with losses in wheat and soybeans. Some analysts expect the first weekly corn crop ratings of this season to reach record highs. We doubt...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Silly; Hypocritical; Stupid; Chauvinistic
The U.S. wheat industry wrote a letter this week to Canadian officials that turned that government's successful arguments against America's country-of-orig...
Indian Subcontinent Regional Analysis
India is presently the world's top milk producer at 140 MMT, but its production efficiency is one of the lowest. With a goal of doubling output by 2027 to...
Oilseed Highlights
Over the last few years, the canola sector in the provinces of the Canadian Prairies has been beset with excess rainfall that has interfered with spring pl...
Opponents Rolled; Confused and Frightening
While the U.S. Senate has capped debate on the TPA legislation, there is still negotiation over the amendments that will be allowed to be offered. How...
Market Commentary
A number of factors prompted funds to cover more of their short wheat position. That encouraged some buying in corn as well, which was further suppor...
COOL: Reform or Repeal
Yesterday the House Agriculture Committee approved a bill to repeal COOL, which will now move to the House floor where it is expected to pass. However, the...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Global Food Security
Food security and how to achieve it is a complex issue that has been debated throughout recorded history. The question now being discussed is how to provid...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Black Sea Regional Analysis
While Russia's wheat exports plummeted from 1 February-13 May 2015 compared with the same period in 2014, its MInistry of Agriculture announced that a new...
Mercosur Regional Analysis
The South American soybean market is seeing reduced Chinese demand for July. One reason is that a sharp drop in the Dalian futures this week eroded crush m...
Curious Votes on Trade; Reading Food Data
Over the past 13 years, relatively few Democrats in the U.S. House of Representatives have voted in favor of international trade, while Republicans have av...