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Closing Futures Prices

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

Black Sea Regional Analysis

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

Mercosur Regional Analysis

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

Points of Interest

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

Market Commentary

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

Campaign Issues; Farm Subsidies; GMO Rules

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

Middle East, Mediterranean and Africa Regional Analysis

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

Oilseed Highlights

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

100 Years of Farm Bills

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

Closing Futures Prices

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

Closing Futures Prices

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

Market Commentary

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

More Things to Keep You Up at Night

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

Poppycock over UK Food; TPP Renegotiation

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

Indian Subcontinent Regional Analysis

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

Renewable Energy Replacing Coal

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

Market Commentary

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

Oilseed Highlights

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

Generalized Malevolence Obsession

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

Closing Futures Prices

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

U.S. Acreage and Grain Stocks

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

2015 Started New Cattle Cycle

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

Market Commentary

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

Closing Futures Prices

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

Slapping Greenpeace; Trump Strategy; Ag Economy

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

Mercosur Regional Analysis

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

Black Sea Regional Analysis

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

Closing Futures Prices

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

Economic Uncertainty

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

Middle East, Mediterranean and Africa Regional Analysis

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

Global Food Philosophy; TPP Schedule; China’s Ills

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

Oilseed Highlights

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

30 June and 4 July

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

Market Commentary

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

China In-Country Analysis

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

Closing Futures Prices

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

Market Commentary

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

Dubious Experts; Insider Trading; Palm Tax Nut

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

Southeast Europe Regional Analysis

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

Weather Remains an Issue

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

Will New Emission Standards Impact Long-Term Biodiesel Use?

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

Meaning of Brexit; RFS Quibble

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

Indian Subcontinent Regional Analysis

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

Closing Futures Prices

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

Brexited!!

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

Thoughts and Observations from a Wheat Conference

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

Market Commentary

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

Tales Spun by Export Sales

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

Market Commentary

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

China’ Meat Consumption Recommendation

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

Closing Futures Prices

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

Oilseed Highlights

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

GMO Label; Natural; Food versus Fuel; Ergot

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

Market Commentary

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

Mercosur Regional Analysis

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

Black Sea Regional Analysis

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

Closing Futures Prices

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

Brexit Informs Much; One-Sided Transparency

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

Market Crosswinds

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

Closing Futures Prices

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

Middle East, Mediterranean and Africa Regional Analysis

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

Market Commentary

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

Oilseed Highlights

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

Congressional Hearings of Interest to Agriculture

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

Knowing Quality; Jobs and Protectionism; Meat Morals

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

Southeast Europe Regional Analysis

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

Market Commentary

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

Rules of the Road; Miscellaneous

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

Closing Futures Prices

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

China In-Country Analysis

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

The Savior Rally

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

Insights from Consumer Food Spending

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

Better Ag Policy; Nothing Changes; Meatless; Energy Economics

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

Indian Subcontinent Regional Analysis

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

Closing Futures Prices

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

Market Commentary

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

Summer Weather

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

Oilseed Highlights

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

Deadly Hyperbolism; Chem-Free Farming; Sugar Tax Failure

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

An Economic Stress Test

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

Livestock, Dairy, and Poultry Outlook

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

Market Commentary

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

Closing Futures Prices

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

Risky TTIP Conclusion; Future of Agriculture

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

Closing Futures Prices

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

Mercosur Regional Analysis

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

Black Sea Regional Analysis

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

Market Commentary

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

Weather, the Fed and Brexit

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

Oilseed Highlights

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

Closing Futures Prices

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

Middle East, Mediterranean and Africa Regional Analysis

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

Market Commentary

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

House Ways and Means Committee Looks at Ag Trade

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

Market Commentary

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

Latest RFS Reform Plan Targets Fuel Side of Equation

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

China In-Country Analysis

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

Closing Futures Prices

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

More Things to Keep You Up at Night

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

Organic Chemical Burden; Trade Rules

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

EPA Holds Hearing on 2017 RFS Proposal

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

Indian Subcontinent Regional Analysis

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

Closing Futures Prices

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

Market Commentary

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

USDA Reports

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

Write with Clarity; Slap the DR

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

World Food Security Update

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

Market Commentary

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

Oilseed Highlights

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

Closing Futures Prices

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

PEDv in Manitoba

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

Stone Age Starvation; All Politics

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

Ag Review: The Global Livestock Industry

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

Closing Futures Prices

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

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

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

Black Sea Regional Analysis

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

Market Commentary

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

Mercosur Regional Analysis

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

War on America; War on Salt; Subsidies to Pollute

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

A Few Random Thoughts

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

Oilseed Highlights

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

Market Commentary

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

Ethanol: Exports Help Scale Blendwall

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

Middle East, Mediterranean and Africa Regional Analysis

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

Closing Futures Prices

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

Sugar War; Mixed on Quotas; Other Briefs

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

China In-Country Analysis

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

Ethanol and Crude Oil Shipments from the Midwest

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

Commodities Back in the Lead

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

Closing Futures Prices

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

Market Commentary

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

Southeast Europe Regional Analysis

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

Funding for USDA Loan Programs an Issue

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

Skimming Pockets; Notable

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

Indian Subcontinent Regional Analysis

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

The March is On

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

Market Commentary

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

Closing Futures Prices

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

Market Commentary

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

Bigger than TTIP; Milk Fight; Beer Fear

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

What is Weather Worth?

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

GAO to Investigate Cattle Market

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

Oilseed Highlights

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

Closing Futures Prices

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

Topsy-Turvy; CAP 2020; Mad Meat Blockades

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

Closing Futures Prices

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

Market Commentary

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

Black Sea Regional Analysis

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

Mercosur Regional Analysis

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

Supreme Court Rules on WOTUS

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

Vague Law; Leap; Fool’s Gold; Commoditization

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

Closing Futures Prices

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

Oilseed Highlights

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

Middle East, Mediterranean and Africa Regional Analysis

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

Market Commentary

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

World Soybean Outlook for 2016/17

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

Foodsuasion; Risky Purchase II

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

Market Commentary

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

Indian Subcontinent Regional Analysis

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

Corn Shortage in Brazil Impacting Livestock and Wheat

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

Closing Futures Prices

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

U.S. Corn and Soybean Export Objective Too Small

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

Oilseed Highlights

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

Market Commentary

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

Commodity Speculation and the Real World

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

Brexit Blunder; Quotas

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

USDA to Re-Propose GIPSA Rule

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

Closing Futures Prices

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

Mercosur Regional Analysis

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

Market Commentary

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

Black Sea Regional Analysis

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

Fishy Cat Fight; EU for TTIP; Blame Shifting

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

Closing Futures Prices

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

Closing Futures Prices

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

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

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

Dairy a Winner Under the TPP

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

Middle East, Mediterranean and Africa Regional Analysis

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

World Corn Outlook for 2016/17

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

Market Commentary

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

Southeast Europe Regional Analysis

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

Closing Futures Prices

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

Market Commentary

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

Ethanol Roundup

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

Excessive Rain More of a Concern Today

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

China In-Country Analysis

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

Market Commentary

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

Closing Futures Prices

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

Weather and Yields

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

Snapshot of Credit Situation

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

AB Politics; Government Money; Exporter of Death

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

Indian Subcontinent Regional Analysis

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

Closing Futures Prices

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

Oilseed Highlights

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

Market Commentary

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

March of Luddites; Shallow Politics

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

RFS Proposal Impacts Feed

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

World Trends

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

ITC on TPP; EWG Hag; Bear View

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

Closing Futures Prices

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

Black Sea Regional Analysis

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

Market Commentary

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

Mercosur Regional Analysis

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

Oilseed Highlights

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

Closing Futures Prices

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

ITC Prompts TAA; Glyphosate Safe Again; Regulatory Coherence

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

Middle East, Mediterranean and Africa Regional Analysis

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

Blairo Maggi New Brazilian Ag Minister

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

Market Commentary

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

World Soybean Outlook

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

Closing Futures Prices

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

China In-Country Analysis

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

Market Commentary

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

Southeast Europe Regional Analysis

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

Voter Crop Insurance Poll

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

More Things to Keep You Up at Night

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

Farm Dust; New Rules; Pick a Veep

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

Market Commentary

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

Closing Futures Prices

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

Risky Reading; Risky Purchase

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

Indian Subcontinent Regional Analysis

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

Big Production and Big Demand

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

Bill Proposed to Cap Ethanol under 10 Percent Blendwall

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

Grain Stocks Mythology

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

USTR to Challenge China over Chicken

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

No Natural at All

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

Closing Futures Prices

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

Oilseed Highlights

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

Market Commentary

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

Black Sea Regional Analysis

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

Snookering Public Stockholding

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

Closing Futures Prices

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

Market Commentary

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

Mercosur Regional Analysis

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

Market Commentary

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

F Bombs; Stiffing; Currency Manipulation; Market Forces

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

Oilseed Highlights

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

Closing Futures Prices

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

Middle East, Mediterranean and Africa Regional Analysis

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

Salacious Hamburger Study Could Follow Hot Dog Study in Media

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

The May 2016 WASDE

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

Closing Futures Prices

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

EU Not Likely to Extend Biofuel Mandate After 2020

Leading the opposition was the UK, which the Department of Transport there indicates is preparing to offer legislative reforms to its own Renewable Fuel Tr...

China In-Country Analysis

U.S. DDGS export shipments to China in March fell to their lowest level since December 2014. However, the steady drop since last July suggests that the dra...

Southeast Europe Regional Analysis

Considering the Black Sea's high level of old crop stocks held by farmers and the arriving big crops, the total feed wheat supply at the start of the 2016/...

Closing Futures Prices

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

Geography is Destiny

It has been periodically charged that USDA has a bias in favor of farmers over consumers, and the agency’s local effort is evidence of the difficulty...

USDA Report Preview

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

Market Commentary

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

Market Commentary

Overnight markets were quiet and mixed in light volume. That all changed when the soy complex again started a significant rally in the first hour of today’...

Indian Subcontinent Regional Analysis

India's high domestic feed ingredient prices have spurred livestock farmer groups to ask that GOI allow imports that may have been produced using grain and...

TTIP Impasse; One Percenter Food; Border Trouble

Officials in the previous Commission at least attempted a small but overt effort to inform the European public and open minds to biotech; the current one i...

Closing Futures Prices

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

CRP Enrollment Announced

This is the 30th anniversary of the Conservation Reserve Program (CRP), which was created in the 1985 Farm Bill, and enrollment was the most selective in i...

Canadian Grain Stocks and U.S. Winter Wheat Production

While today’s Stats Canada stock numbers did not contain any signficant surprises, two crops showed an interesting change from last year. Meanwhile, this w...

Oilseed Highlights

China’s announcement that it was conducting an ant-dumping investigation of U.S. DDGS exports has impacted local importers' decisions, but other markets ar...

Ag Review: Global Wheat Markets and their Outlooks

Wheat Uncompeted Demand will grow, but wheat has been a loser in the competition against other commodities for profit and thus growing area. U.S. Wheat Sec...

Closing Futures Prices

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

Market Commentary

It was sort of a crazy day for grain and soy markets. The overnight session saw higher prices across the board, and that trend accelerated early in the day...

Bulls and Bears

The history of commodity and financial markets during the past 45 years suggests that complacency just might be the speculator/investor’s worst enemy, and...

House Bill Targets FDA Veterinary Feed Directive

Last June, the U.S. FDA issued the final rule implementing the agency’s Veterinary Feed Directive (VFD) “to ensure the judicious use of medically important...

Small America; Tele-Protectionism; Chemical Organic

Big non-food companies suggesting the dismantling of the food system because it is also big is certainly a big idea, but it cannot be characterized as prag...

Too Big; Uncertainty; Sweet Revenues

A Chicago Booth survey of leading economists found that expertise caused both an increase and a decrease in certainty about the actual value of breaking up...

Market Commentary

The soy complex was once again supported by renewed strength of soymeal futures. It appeared that commercial end users were buying meal futures as protecti...

Black Sea Regional Analysis

Processors' and traders' bid prices for soybeans on the Ukrainian domestic market rose to $374-394/MT EXW and $378-398/MT CPT, while CPT-port prices grew t...

Mercosur Regional Analysis

Several exporters in Argentina expect the export program to end soon because of the drop in soybean production. Offers started to decrease this week, but t...

Closing Futures Prices

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

The World Wheat Outlook

From 2013/14 through 2015/16, the world produced three record wheat crops in a row. 2016/17 production is unlikely to reach the level of 2015/16’s record 7...

Closing Futures Prices

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

Closing Futures Prices

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

Closing Futures Prices

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

Organic; Titanic TTIP Sinking

The truth is that the extreme low levels of quantification available via organic chemistry means that very little in the food system will test at pure or a...

Market Commentary

After reaching new rally highs overnight, the soybean and soymeal markets faltered soon after the day session opened. Meanwhile, good reports from the firs...

Budget Process Reform and The Farm Bill

The U.S. Senate Budget Committee recently held four hearings regarding reform of the congressional budget process. There is general consensus that it has b...

Oilseed Highlights

Mauricio Macri promised Argentina’s agricultural exports would increase sharply if he was elected president and eliminated export taxes. Data released by t...

Middle East, Mediterranean and Africa Regional Analysis

Morocco has decided to leave the soft wheat import tariff at 30 percent until the end of 2016. This resulted from the expected drop in the local wheat crop...

Market Commentary

The soy complex, particularly soybean and soymeal futures, is where all the action continues to be. Soybean futures were lower overnight and traded down as...

Japan’s Economy and the TPP

While U.S. agriculture groups push for passage of the TPP, the longer-term stakes for restoring the Japanese economy, a major market for U.S. agricultural...

China In-Country Analysis

The April 2016 statistics for the Dalian Exchange show the impact of China’s move away from direct corn subsidies on a set floor price. The interesting thi...

Currencies; Politics; Principles; Economy

The U.S. Treasury Department’s annual report comes closer than any prior assessment in calling out key trading partners for currency manipulation. Name Cal...

U.S. Hard Red Winter Wheat Crop

USDA will release its first estimate of U.S. winter wheat production on 10 May, but this week’s Kansas crop quality tour will provide a reasonable idea of...

Closing Futures Prices

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

Market Commentary

Markets were active on this last trading day of the month, but volume was much closer to normal than some of the big days in recent weeks. Soybean, wheat a...

More Things to Keep You Up at Night

There has been a great deal of chatter about the possible impact that the frenzied commodity speculation in China may have had on U.S. futures markets.It w...

Closing Futures Prices

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

World Turns; Food Fix

The food sector overflows with idealism, and while one person, one vote makes sense in democratic politics, an equal vote by all shareholders in an economi...

Yogurt Battle Epitomizes Trends in Food Industry

The recent moves by two of the top three players in the yogurt market, Chobani and Dannon, underscore the marketing battle to gain consumer confidence rega...

Indian Subcontinent Regional Analysis

The prevalence of drought news has prompted GOI to discuss agricultural policies regarding ways to save water and promote crops that can thrive under arid...

Market Commentary

Price action in overnight trading of CME grain and soy contracts was mixed with minor changes. USDA’s weekly export sales report was the main fundamentally...

The Chinese Conundrum

The impact that the state of the Chinese economy may have on its demand for physical commodities is obviously of key importance to how those products are v...

Oilseed Highlights

Mercedes Benz has proposed to the Indian government that it shift its cars and other vehicles solely to biodiesel as a way to comply with a Supreme Court r...

GAO to Investigate Beef Market

Senate Judiciary Committee Chairman Chuck Grassley (R-Iowa) wrote to the Government Accountability Office (GAO) last week regarding a study of last year's...

One-Legged Stool; Sanctions Circumvention

The post-Doha agenda for the WTO is unclear, but EU Trade Minister Cecelia Malmström laid out Europe’s vision for where the organization should focus. One...

Closing Futures Prices

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

Mercosur Regional Analysis

Weather conditions have improved in Argentina since last week, but the soybean harvest is still far behind. Approximately 4 MMT were lost because of the fl...

Market Commentary

The day session produced a bias toward lower prices, although nothing remotely close to a market collapse. Soybean futures prices were off about 17 cents a...

Closing Futures Prices

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

Slaying the Goose; FDA out to Lunch

Every food has been genetically modified, and the use of the term “natural” is one of the most litigious in food marketing. Even labeling food as non-GMO i...

Black Sea Regional Analysis

The Ukrainian corn market showed significant changes as prices grew on all terms of trade due to high demand from exporters. That same demand drove the cou...

Market Commentary

The market was nervous about its direction today because of the relatively weak closes yesterday when soybeans went from up 30+ cents to up 12-15 cents. So...

Oilseed Highlights

A consortium that includes Brazil’s Universidade Federal de Viçosa, DuPont Pioneer and 2Blades (a non-profit organization) indicates it has developed a soy...

Farm Credit Situation

Both Farmer Mac and commercial banks reported a 7 percent increase in agriculture-related loans last year versus 2014. With an outlook for depressed commod...

Middle East, Mediterranean and Africa Regional Analysis

Egypt reports that it has purchased approximately 57,000 MT of local wheat in the first 10 days of buying against a target of 4 MMT by 31 July 2016. Howeve...

NOSB Snob; TTIP Lobby

The National Organic Standards Board (NOSB) is predicted to have a contentious meeting when it gathers this week for its semi-annual subjective opining of...

Closing Futures Prices

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

Closing Futures Prices

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

Southeast Europe Regional Analysis

The old crop feed wheat and corn market in the Black Sea is much firmer because of slow farmer selling and short covering demand. This has impacted the inv...

China In-Country Analysis

After a tepid first quarter, demand from  China's feed industry picked up considerably last week and decreased the nation’s estimated soymeal inventor...

Market Commentary

Markets were quietly lower overnight, but that pattern quickly changed with this morning’s opening. Accelerated buying took soybeans and corn to 30-cent pl...

Transatlantic Tete-a-Tete

 Fearing that American agriculture’s concerns may get overlooked in a final push to complete the TTIP this year, 26 U.S. senators sent a letter to U.S...

Final Stages of Presidential Primaries: The Road Ahead

Tomorrow could be a big step toward clearing the picture on the Republican side, or it may leave the waters muddied. Either way, the states remaining with...

The Funds Are Back

Markets crashed last Friday when the fund buying dried up, so the sharply higher trade this morning caught the market by surprise. What seems to be clear i...

Christmas in April

Regardless of what has caused or created this recent market rally, it has brought an enormous Christmas present to farmers and agricultural bankers in the...

Closing Futures Prices

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

Inconsistencies; Another View; Look Out Corn; Largess

U.S. and EU political leaders and trade negotiators begin critical Transatlantic Trade and Investment Partnership (TTIP) meetings this weekend, and the cha...

Market Commentary

The soy complex crumbled sharply lower overnight as funds turned from big buyers to moderate sellers. Soybeans then opened this morning with moderate losse...

Indian Subcontinent Regional Analysis

Under normal circumstances, India's chickpea prices tend to move lower as arrivals peak. Contrary to that, though, NCDEX spot prices in New Delhi are up 18...

New Dairy Feed to Milk Margin Bill Introduced

One of the issues carried over from the 2012 Farm Bill to the 2014 version was the new Dairy Margin Protection Program (DMP), which provides margin insuran...

Oilseed Highlights

Today’s planting intentions report by Statistics Canada indicated Canadian farmers intend to plant more corn and pulses but less oilseeds this year than la...

TTIP Day of Reckoning

German Economy Minister Sigmar Gabriel attempted to put the U.S. in the defensive position on Transatlantic Trade and Investment Partnership (TTIP) negotia...

Price Risk and World Wheat Trade: Part II

Can a commercially useful world wheat contract be created? It would have to be a contract that attracted widespread commercial participation from buyers an...

Another Report on Meat and Sustainability

After the U.S. Dietary Guidelines Advisory Committee (DGAC) initially dropped meat from its dietary recommendations, the World Resources Institute (WRI) re...

Market Commentary

Corn couldn’t participate in the soybean rally even when the soy complex was super strong overnight.. Markets opened lower and traded with sharp early loss...

Closing Futures Prices

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

Mercosur Regional Analysis

Floods have ruined an important part of Argentina’s seeded soybean area, and farmers are now selling their stocks at $250/MT compared with $217/MT FAS at R...

Closing Futures Prices

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

Pigs Fly; TPP Brick Wall

The U.S. House Appropriations Committee approved a bill funding agriculture for FY 2017, and the effort included a couple of notable fights.The U.S. House...

Black Sea Regional Analysis

Wheat and corn prices in the Russian market decreased insignificantly last week, while barley and milling rye prices remained stable. However, all prices g...

Market Commentary

The main signal from the overnight trade was the continued heavy trading volume. The day session also opened with grain prices edging higher and mixed but...

Market Bulls Grow Their Horns

Supply/demand analyses require a considerable amount of subjectivity and guesswork, while prices and price changes are facts. All of this leads us to consi...

Elliott; Steel Cotton; Imprecise Futures; Cuban Smoke

Efforts by the new government in Argentina to assume the inspection of soybeans and to deter the ability of technology providers in obtaining royalties for...

Oilseed Highlights

India has suffered from droughts during the past two years, reducing its production of lentils, peas and other pulse crops that are diet staples for many t...

Middle East, Mediterranean and Africa Regional Analysis

Turkey’s wheat production should reach 19.5 MMT in 2015/16, according to the latest USDA-FAS report on that country. However, that volume could drop to 17...

Ag Appropriations Bill Before House Appropriations Committee

The House Appropriations Committee was marking up the FY 2017 Agricultural Appropriations Bill this afternoon. It totals $21.3 billion in discretionary fun...

Market Commentary

Soy complex futures prices jumped very sharply higher in aggressive trading, and wheat futures prices also advanced smartly. Corn futures prices were highe...

Closing Futures Prices

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

More Things to Keep You Up at Night

Brazil’s lower house voted last night to impeach President Dilma Rousseff, and the Senate now has 10 sessions to decide if it wishes to move forward with t...

2018 Farm Bill Debate Underway

The current farm bill took two years of debate and negotiations to finish, and now stakeholders are already getting involved two years later in farm policy...

Closing Futures Prices

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

Shorts; Boiling Red; Report Value

Sweden is seeking a European Union ban on the importation of live Maine lobster. It charges that the Homarus americanus is an invasive species that gets lo...

Southeast Europe Regional Analysis

The Egyptian GASC bought 120,000 MT of Romanian wheat and 55,000 MT of Ukrainian last week at an average price of $192.12 CNF. The prices offered are at le...

China In-Country Analysis

For the second consecutive week, the average domestic corn price fell RMB 10/MT ($1.50/MT) last week to RMB 1780/MT ($274.20/MT). Since the beginning of Ap...

Market Commentary

Wheat had an interesting trading day today. Chicago led the rally because that’s where the funds are short about 500 million bushels of futures. Short cove...

Attitude Change?

This week provided a very good demonstration of how quickly attitudes and prices can change. The soybean rally continued to gain strength and set new highs...

Indian Subcontinent Regional Analysis

While government of India (GOI) data might indicate adequate plant protein availability for the livestock sector, actual domestic production suggests other...

Closing Futures Prices

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

Market Commentary

Markets were steady to slightly weaker overnight following the weak closes on Thursday. Corn and soybean markets then shifted again this morning as funds b...

Brazil’s President Rousseff Facing Impeachment

Brazilian President Dilma Rousseff''s story is fascinating. It is an epic saga of sorts, much in the mold of South America’s political turmoil from the mid...

GMO Go; Better MTB Process

Low commodity prices may be leading farmers to plant seeds less expensive than GM varieties, but technology is winning in other ways. Anti-GMO Takes Hits L...

Market Commentary

After the giddy rally of the last four sessions, grain and soy futures markets finally paused to catch their breath today. It did not happen early in the o...

Oilseed Highlights

Argentine Minister of Agriculture Ricardo Buryaile has signed a resolution aimed at stopping companies from collecting royalties on their patented biotech...

Price Risk and World Wheat Trade: Part One

At one time, Chicago wheat futures (now the CME wheat contracts) provided a price discovery function for most world buyers and sellers. However, the CME SR...

Closing Futures Prices

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

Animal Welfare for Organic Production

Although the organic industry generally has expressed support for USDA’s move in tightening the animal handling standards, there have been some concerns fr...

Black Sea Regional Analysis

Domestic prices on the Ukrainian grain market fluctuated insignificantly last week. Some traders continued raising bid prices for wheat without changing th...

Market Commentary

The Great Grain and Soy Rally of 2016 continued in full force again in overnight trading and during the day session. Overnight trading volume was heavy, es...

Mercosur Regional Analysis

The corn situation in Argentina is becoming more complicated because of the heavy rains over agricultural areas and numerous vessels arriving at the ports...

Closing Futures Prices

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

Chemicals; China Barriers; Farm Bill; Too Late

The U.S. House Agriculture Committee plans hearings on the downturn in the farm economy, and discussions have already begun on the new farm bill to be writ...

Middle East, Mediterranean and Africa Regional Analysis

Italy is looking at three zone developments related to agricultural logistics in Egypt with one project for wheat and grain said to be likely in the Red Se...

Market Commentary

The soybean market is in the grips of a strong technical rally that has pushed futures prices to their highest levels in more than six months. Soybean futu...

Biodiesel: RFS, Tax Credit and Imports

The U.S. Energy Information Administration (EIA) has released the first month’s data on biodiesel, and it is interesting to look at three key factors in th...

Closing Futures Prices

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

The April WASDE

USDA released its April 2016 WASDE today. If anything, the report carried a slightly bearish tone. Despite this, markets traded strongly higher today, both...

Oilseed Highlights

This year Monsanto expects up to 35 million acres of Intacta soybeans to be planted in Brazil and the area to increase to 75 million acres by 2019. That’s...

Corn Dumping; TPP; Shackled; Compromise

The U.S. dollar is at an eight-month low against a basket of currencies, and speculation is increasing about interventions by other governments to countera...

Southeast Europe Regional Analysis

The combination of the lower U.S. corn price and a firmer EUR versus the USD raised the theoretical import levy to about €5/MT. The actual levy is currentl...

Market Commentary

Soybean futures put in a new high overnight, and that strength followed through today. Funds are also long soybean and soymeal futures, and this chart patt...

China In-Country Analysis

China’s estimated soymeal inventories fell sharply last week for the first time since the end of February. They have totaled more than 1 MMT since the week...

Equities Bullish, Commodities Bearish

All four living (current and past) Federal Reserve chairs discussed investors’ perception of the economy last week and agreed that the U.S. economy is soun...

Subsidies for Niche Marketing

USDA is boasting that at 12 percent per year, organic farming is “one of the fasting-growing segments of American agriculture." It also claims to hav...

Closing Futures Prices

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

Of Funds and Canada

Managed money continues to press the short side of corn and wheat futures while buying soybean and soyoil futures. In the meantime, Canada’s acreage is sta...

Market Commentary

Crude oil was soaring today with gains of more than $2.00 a barrel, and that set the tone for everything else. However, corn couldn’t follow wheat or soybe...

The “New” Soybean Outlook

WPI's acreage estimate is based on the belief that the very wet conditions across the Delta will result in acres shifting back to soybeans from corn. The k...

Eating Disorders

If a centrally-controlled government like China’s cannot persuade consumers as to the safety of biotechnology, it stands no chance in the tabloid-dri...

Ethanol and Biodiesel Rail Shipments

The U.S. Energy Information Administration (EIA) has added data on rail movements of ethanol and biodiesel to its monthly Petroleum Supply Monthly (PSM) re...

Ag Review: Immigration Issues around the World

The Immigration Debate and Agriculture Fundamental changes will impact the migration debate, including in agriculture. Immigration Challenges in Russia and...

Indian Subcontinent Regional Analysis

After two failed monsoons and higher food demand for its population of 1.26 billion, India is gradually becoming a net importer as the country's water cris...

Closing Futures Prices

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

Dubious Organic Animal Standard; Brussels Ignores Deadlines

The EU is once again delaying the approval of feed ingredient imports derived from biotech crops despite their science-based proof of safety. Dubious Organ...

Oilseed Highlights

While a Chinese ag ministry official indicated today that the government plan is to boost domestic soybean production for food purposes rather than reduce...

Market Commentary

Overnight trade in grains and the soy complex found both sides of Wednesday’s closes in below average volume. However, corn prices never fell far from the...

Closing Futures Prices

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

Dealing With the Next Global Food Crisis

In January 2016, the Council on Foreign Relations held a workshop to look at volatility in food prices and its consequences with an emphasis on food crises...

Closing Futures Prices

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

Oilseed Highlights

With China's announcement last week regarding a change in its income support policy for farmers, local analysts predict a notable shift in their planting d...

Black Sea Regional Analysis

Wheat, corn and barley prices at the Russian market continued to drop (in RUB expression) during the week in review, while rye prices remained unchanged. H...

U.S. Trade Policy; China GMO Policy

The U.S. trade deficit is growing worse as the U.S. dollar stays strong and the economy stands out from many others. This trend will eventually feed back i...

Mercosur Regional Analysis

In Brazil, the soybean market keeps focused on the spot. This week there were several trades at levels of +55 SK for Santos and +54 SK for Rio Grande. The...

Market Commentary

The corn market edged higher, although there was not much in the way of fresh input. Corn spreads tightened somewhat as corn shorts began to roll their pos...

Market Commentary

The feature of the day session was the sharp drop of soyoil prices, largely the result of fund selling. Corn closed a couple of cents higher, helped by som...

Middle East, Mediterranean and Africa Regional Analysis

Stress-tolerant maize being developed for use in Africa, which has as many as 70 strains, is believed to be capable of combating a number of serious growin...

Root of Problems; Worth Its Salt

The Obama administration is under intense pressure over the political prospects for the Trans-Pacific Partnership (TPP) and Transatlantic and Trade Investm...

Closing Futures Prices

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

Cheaper Oil's Impact on U.S. Exports

This is a new era in energy and specifically crude oil, which is having an effect on total U.S. exports as well as those from the ag sector.USDA today rele...

U.S. Wheat Outlook

The 2016/17 U.S. wheat crop will clearly be small, but it appears unlikely that this will provide fundamental support for a bull wheat market. The anticipa...

Transatlantic Strategies; Winners and Losers

The European Union is considering a plan whereby dairy cooperatives voluntarily reduce production in the face of slumping prices. Rebalancing supply and de...

Market Commentary

Everything turned lower in the first hour-and-a-half of today’s trade. Soybeans actually led the break when the weekly export inspections report showed jus...

Southeast Europe Regional Analysis

Bulgaria has been officially added to the list of potential suppliers in the GASC tenders, which is good news for the country’s milling wheat farmers. Howe...

Closing Futures Prices

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

The “New” Corn Outlook

Instead of steady or a slight reduction in corn acres, the U.S. farmers surveyed by USDA in early March said they intended to boost plantings by 5.6 millio...

China In-Country Analysis

China’s State Council has approved the National Resource Defense Council’s (NRDC’s) proposed 2016 soybean target price of RMB 4,800/MT ($732.50/MT), which...

Beef Herd and Demand Both Make a Comeback

While the March WASDE report projected U.S. beef consumption will increase for the first time since 2006, the U.S. cattle herd is also expanding after reac...

Indian Subcontinent Regional Analysis

India's sugar price has improved considerably in the past three months, rising 15.9 percent from a low spot price of $466.20/MT in Kolhapur (Maharashtra) o...

WOTUS; Trade Angst; Survey Says

Aggies were greatly dismayed when the U.S. Supreme Court passed on hearing their challenge of U.S. EPA’s regulatory approach to cleaning up the Chesapeake...

More Things to Keep You Up at Night

While the amount of frost-freeze damage to certain crops is unknown at this time and drought continues to be an issue in some key regions, the planting int...

Market Commentary

Today’s trade was much more reserved, but volume was again well above average. Funds continued to slowly add to their long soybean position, now reportedly...

U.S. Senate Election Outlook

Of the 34 seats up for reelection this year, 24 are held by the Republicans and only 10 by the Democrats. That certainly gives the latter more chances for...

Closing Futures Prices

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

Market Commentary

The way the futures market reacted to today USDA's reports, it seems that it was not only starved for fresh fundamental news, but it was also eager to be s...

Oilseed Highlights

A WTO dispute settlement panel ruled yesterday on the complaint filed by Argentina in December 2013 regarding the EU antidumping tariffs implemented agains...

Quarterly Stocks and Acreage Intentions

The long-awaited March planting intention estimates and 1 March quarterly stocks estimates from USDA were released at noon (EDT), which should provide mark...

Closing Futures Prices

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

China as Potential Top Pork Importer; U.S. Meat Production

China now consumes about half of the world’s pork and has a growing demand into the future that can’t be sustained by small farms that also have an outsize...

Trade’s Benefits; Twisted Thinking

The recommendation of a regulatory reform council in Japan in relation to the Trans-Pacific Partnership (TPP)  is an example of how newly-created comp...

Closing Futures Prices

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

Mercosur Regional Analysis

The last week was very surprising for corn in Argentina as well as Brazil and also an important factor in the big heat up in premiums. Despite the size of...

Market Commentary

Speculative soybean longs do not appear very worried about tomorrow’s stocks and acreage numbers. However, the history of periodic 1 March corn stock surpr...

Black Sea Regional Analysis

Ukrainian milling wheat prices quoted by traders grew as did those at the UBS ports. Traders’ feed wheat bid prices also increased along with export prices...

Farm and Trade Policy Tipping Points

Current farm policy is a vestige of a bygone era when caloric deficits were tangible and the tools of risk management and market information were imprecise...

Market Commentary

The rally of grain and soy futures prices marches on in a manner not seen since last summer. Again, the charge has been led by soyoil with the May contract...

U.S.-Argentina Trade and Investment Framework

The new U.S.-Argentina cooperative agreement is wide-ranging and covers areas such as technical assistance in domestic economic reform, global development...

Middle East, Mediterranean and Africa Regional Analysis

According to the latest USDA country brief, Saudi Arabia will import just over 17 MMT of grain in 2015/16: 8.5 MMT of barley, 3.5 MMT of corn, 3.3 MMT of w...

Oilseed Highlights

The Genetic Engineering Appraisal Committee (GEAC), the government of India’s regulator responsible for issuing clearances for field trials of GM crops and...

Therapeutic Nonuse; China Corn

Glyphosate is now under intensified scrutiny in the U.S. as the inspector general for the U.S. EPA announces an investigation into how well the agency has...

The Transition Reports

The nature of agricultural markets is to always look ahead, and USDA's 1 March reports, especially the planting intentions, that will be released this Thur...

Closing Futures Prices

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

Tough Time to Make a Profit

There’s no question that big profits were made during the boom times and balance sheets looked wonderful. The problem is that money is now going out the do...

China In-Country Analysis

The estimated average utilization rate of China's soybean processing industry decreased sharply last week as a majority of those facilities ceased producti...

Market Commentary

This was a more interesting day in the markets. Corn and soybean futures were slightly lower overnight with wheat slightly higher. Wheat then found more ag...

Closing Futures Prices

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

2016 Fuel Consumption Track

Gasoline futures prices are now higher than ethanol futures prices for the first time in more than six months, a change being driven by a number of factors...

Perpetuating Inequities; Wrong Tree

American public attitude surveys show a continuing slide in public support for free trade, and that decline is encouraging politicians to use trade as a ne...

Southeast Europe Regional Analysis

Egypt's GASC purchased 60,000 MT of French wheat last week at $189.20 CNF after receiving seven offers in total. The fact that the GASC preferred to buy ju...

Closing Futures Prices

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

Oilseed Highlights

Some elevators are warning farmers that they will not accept soybeans produced from Monsanto’s Roundup Ready 2Xtend strain unless it gains approval from th...

Trade Policy; Change; Labeling Ruse

The Japanese refuse to liberalize rice imports, the Americans won’t budge on sugar subsidies and export credits, and Europe will never accept GMOs or hormo...

Market Commentary

Overnight trade in grains and the soy complex were mixed and directionless as markets began to wind down ahead of the long holiday weekend. Things perked u...

China’s New Farm Policies – Maybe

China has been using its version of crop price supports to achieve income support and experienced a similar progression of results as occurred in the U.S...

Pork Outlook

USDA’s quarterly Hogs and Pigs report will be released tomorrow, and the market expects the data will be in accordance with the department's long-term base...

Closing Futures Prices

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

Black Sea Regional Analysis

Wheat and barley prices at the Russian market continued to decrease (in RUB expression). Rye and corn prices grew, however, with the latter showing a signi...

Market Commentary

This week’s Turnaround Tuesday did not occur until today, Wednesday, but turning around is what grain and soy futures prices did amid moderate trading volu...

Mercosur Regional Analysis

There was an FOB cargo of soybeans traded in Santos this week at +55 or 56 SK for April, while paper was bid at +50 SK. This seems to indicate port premium...

Cuban Paradise; Choco Diet; Deniers; Jobs

When the Soviet Union collapsed, Cuba was forced to grow crops without inputs like chemicals or machinery – making it an organic mecca. To the Big Ag commu...

TTIP Frustration; Mercosur; Labels; Fraud

In a signal that frustration is growing on the American side over Transatlantic Trade and Investment Partnership (TTIP) negotiations, U.S. Ambassador to th...

Oilseed Highlights

Palm oil futures prices rose today to a two-year high as a result of increased exports and expectations that production will decline because of reduced rai...

The Fading Cuban Embargo

The purpose of the Cuban embargo was to enable the Eisenhower and Kennedy administrations to showcase their stance against evil communism, while the advert...

Market Commentary

Overnight trading volumes were not impressive, and this pattern continued during the day session. Noncommercial support sent soybean futures prices up 12 c...

Middle East, Mediterranean and Africa Regional Analysis

Egypt reports that current wheat supplies are sufficient until July 2016 and that it is planning to purchase 4-4.5 MMT of local stocks during the April-Jul...

Closing Futures Prices

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

President Visits Cuba; Ag Secretary Signs Technical MOU

Since trade in agriculture and medicine was authorized in 2000, U.S. ag exports to Cuba grew to a high point of $685 million in 2008 before dropping steadi...

Cattle on Feed Report

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

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