World Perspectives
softs

India’s Rice Squeeze

The New Delhi playbook for staple crops is to offer farmers a generous Minimum Support Price (MSP), donate the extra output to the nation’s poor, and then dump on the world market any surpluses that would otherwise depress domestic prices. India’s rice surplus was around a quarter of production a dozen years ago but exports have been expanding at double digits a year while output has grown just 2.7 percent per year. The result in this El Nino impacted crop year is that carryover will represent just 12 percent of production this year. That is too close for comfort and so India has slowed the rice export juggernaut and banned the export of non-Basmati rice and other crops.  The pace of rice production could resume its ascent...

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softs

USA Gone Nuts

While oilseeds receive much of the attention, tree nuts, which are technically a seed and containing oil, have gone even more gangbusters for U.S. producers in recent years. Almonds have received much of the focus as the U.S. produces nearly 80 percent of the crop and a comparable share of the...

feed-grains soy-oilseeds wheat

CFTC COT Report Analysis

The major finding of Friday’s CFTC report was the confirmation that funds have officially flipped their formerly massive net short in corn to a net long. After buying back nearly 40,000 contracts last week, funds now sit long 3,035 contracts as of 5 November, a position which was extended signi...

soy-oilseeds

WASDE Soybeans - Nov 2024

WASDE Soybeans – USDA’s latest November estimate for the 2024/25 season is a decrease of 80 million bushels in U.S. soybean ending stocks to 470 million bushels. The U.S. season-average soybean price for 2024/25 is forecast unchanged at $10.80 per bushel. The soybean meal price is unchanged at...

softs

USA Gone Nuts

While oilseeds receive much of the attention, tree nuts, which are technically a seed and containing oil, have gone even more gangbusters for U.S. producers in recent years. Almonds have received much of the focus as the U.S. produces nearly 80 percent of the crop and a comparable share of the...

feed-grains soy-oilseeds wheat

CFTC COT Report Analysis

The major finding of Friday’s CFTC report was the confirmation that funds have officially flipped their formerly massive net short in corn to a net long. After buying back nearly 40,000 contracts last week, funds now sit long 3,035 contracts as of 5 November, a position which was extended signi...

soy-oilseeds

WASDE Soybeans - Nov 2024

WASDE Soybeans – USDA’s latest November estimate for the 2024/25 season is a decrease of 80 million bushels in U.S. soybean ending stocks to 470 million bushels. The U.S. season-average soybean price for 2024/25 is forecast unchanged at $10.80 per bushel. The soybean meal price is unchanged at...

wheat

WASDE Wheat - Nov 2024

WASDE Wheat – USDA’s latest November estimate for the 2024/25 season is for an increase in U.S. wheat ending stocks by 3 million bushels to 815 million, up 17 percent from last year. U.S. wheat exports are unchanged at 825 million bushels. The season-average farm price is lowered $0.10 per bush...

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From WPI Consulting

Infrastructure investment due diligence

On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.

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