U.S. producers can participate in a crop revenue insurance program, Crop Revenue Coverage (CRC), with premiums subsidized by the federal government. Now th...
Articles
Oilseed Highlights
The aquaculture sector has long relied heavily on fish meal as a prime source of protein in its feeds. The supply is decreasing, however, so it will need t...
China In-Country Analysis
Although U.S. corn exports to China saw a modest uptick in July at a total 59,078 MT with FOB port departure value of $9.65 million after consecutive month...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Southeast Europe Regional Analysis
While the Ukrainian feed wheat price lost about $12 during the past three weeks, the market in Bulgaria and Romania showed a different price change as a re...
Durum Production Big, But There Is a Problem
Canada is expected to harvest a record durum crop of nearly 7 MMT while the U.S. crop is the biggest in years at 2.5 MMT. However, a certain issue wi...
Short-Term CR Moving Forward In Senate
Federal government funding is approaching a crucial deadline with the current fiscal year ending on 30 September, and the Senate is expected to pass a CR t...
Market Commentary
Soybean futures led the charge higher overnight on follow-through buying after last Friday’s strong closes. Corn then faced a problem similar to soybeans’...
Mergers and Opposition
Senate Judiciary Committee Chairman Chuck Grassley (R-Iowa) hosts a hearing tomorrow on the proposed mergers occurring right now in the agribusiness sector...
Ag Mergers Impact Washington’s K Street
Lower crop prices and farm income together with pressure for new products are leading to a wave of consolidation in the ag sector. One of the little-discus...
El Nino/La Nina? Not So Fast
The headline story of last spring and shortly thereafter was the record-strong El Nino and its potential impact on North American crop production this summ...
Market Commentary
Markets were mostly lower overnight on relatively light volume. When today’s session opened, however, funds then embarked on a buying program in corn and s...
Dubious Wisdom; Trumped-Up Problem; Misinterpretation
The U.S. Food & Drug Administration is like most government bureaucracies in that it is slow-moving and over-reaching. However, Donald Trump’s call thi...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Indian Subcontinent Regional Analysis
High prices of pulses, the main vegetable protein for Indians, have led to higher wholesale and retail inflation. This has prompted GOI to enact certain me...
Cost of Free IP; Bear Market Strategies
The United Nations High Level Panel on Access to Medicines released its report this week advising that like poor countries, middle-income countries should...
Mergers and Acquisitions
Yesterday’s announcement that Bayer AG was acquiring Monsanto has set off a firestorm of mostly critical reaction. However, there is a key motivator behind...
Market Commentary
Grain and soy prices firmed a bit overnight as trading volume improved from the low levels of the past two days. After trading resumed in the day session,...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Oilseed Highlights
The General Court of the European Union today issued a ruling on the EU’s anti-dumping duties on biodiesel imports from Argentina and Indonesia, and this c...
WASDE; Dairy Herd Culling Settlement; EU Pork Production
While U.S. pork production for 2016 is reduced on expectations of slightly lower carcass weights for the third quarter, there is a different scenario in th...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Black Sea Regional Analysis
Ukraine's domestic sunflower seed prices increased mainly due to devaluation of the national currency. Meanwhile, domestic rapeseed prices rose as buyers c...
Market Commentary
Finally, the market seems to have absorbed whatever implications it has drawn from Monday’s WASDE and USDA’s updated predictions of U.S. corn and soybean y...
Europe Falls Hard; Ag and WRDA
Nowhere is the lower farm income issue being more contentiously discussed than in Europe. Politicians are expressing outrage over the spread between farm g...
Mercosur Regional Analysis
Buyers returned to the Brazilian soybean market after a prolonged, especially quiet period. February shipments traded several times at $1.54-1.55 over Marc...
Trump, Ag and Trade
Trump campaign representatives spoke today to a packed room of agricultural group representatives. While there was insistence that farming would be treated...
Oilseed Highlights
The focus now shifts to harvesting the huge U.S. soybean crop. Efforts are already underway in the Dakotas, but it will be two to three weeks before...
A Few Thoughts from the WASDE
By the time the September WASDE was released yesterday, the trade’s pre-report consensus had coalesced. It had USDA’s corn estimates accurately pegged and...
Market Commentary
Overnight trade saw prices ease lower, led by soybeans. With no changes in the U.S. wheat supply/demand, wheat futures prices looked to the other markets f...
Middle East, Mediterranean and Africa Regional Analysis
A recent GMO report notes that only three countries in Sub-Saharan Africa allow biotech crops, although eight other African countries are conducting fields...
Congressional CR Decisions Looming
With the government fiscal year ending on 30 September, the timing is clear as to when a CR must be passed, although the length of its duration is not. The...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Mixed USDA Reports
USDA did not make a single change to the U.S. wheat supply and demand numbers. It did, however, adjust production estimates for India, Kazakhstan, Au...
Formers on Trade; Bogus Solutions; Clean and Messy Labels
The Center for Strategic and International Studies (CSIS) pooled together four former U.S. Trade Representatives (USTRs) to discuss American interest in th...
Market Commentary
The trade expected the soybean yield to be raised, but USDA spooked the market by boosting it almost a full 2 bushels/acre, but there was a different surpr...
Southeast Europe Regional Analysis
While the Russian 12.5 pro wheat is the cheapest origin (for similar quality) for the next few months, there are certain other origins that may displace it...
China In-Country Analysis
China’s estimated soymeal inventory totaled 606,900 MT as of 9 September, down 104,400 MT from the week before and significantly lower than a year ago. Mea...
Dodd-Frank and Agricultural Credit
The Dodd-Frank Act was signed in 2010 after the 2008-2009 financial crisis. Its purpose was to protect consumers and the stability of the financial system,...
Deceptive Marketing; Trump versus Clinton; Japanese Rice
Public opinion polling sponsored by the Center for Food Integrity shows the number of consumer believing the food system to be headed in the right directio...
Another USDA Report
USDA will release its monthly WASDE (supply/demand) estimates and another round of corn and soybean crop production estimates on 12 September. However, the...
Ag Perspectives Readers’ Yield Expectations
A survey of Ag Perspectives readers suggests likely corn yield reductions and more upside potential for soybean yields in the September WASDE report.Record...
Think Tanks Calls for Privatizing Federal Ag Risk Management
The market-oriented think tank Heritage Foundation yesterday issued a special report, which provides a number of policy recommendations geared toward ...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Indian Subcontinent Regional Analysis
In response to an appeal for approval, a subcommittee of India's Genetic Engineering Appraisal Committee has issued its findings regarding the...
Market Commentary
Markets were quietly mixed overnight with little fresh news ahead of the weekend and the 12 September USDA reports. U.S. equity markets were sharply lower...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
The Official Export Numbers
As interesting and important as export sales and export inspection data from USDA/FAS and FGIS may be, they are not the last word on the volume of corn, wh...
TPP Uncertainty; Disrupting Obesity; EU Insurance
Governments continue to be attracted to one-off tax schemes in an effort to fight the obesity epidemic and concurrently increase the budget coffer for poli...
Heifer Slaughter Higher in July; Red Meat Exports
The U.S. Meat Export Federation (USMEF) today released the July beef and pork export volumes and values, which are totaled from USDA statistics. Beef expor...
Oilseed Highlights
The average forecast of analysts queried by Reuters is for Brazil to produce a record 103.1 MMT of soybeans in 2017. This is clearly a possibility if the c...
Market Commentary
Markets moved higher by baby steps overnight, helped by the weaker U.S. dollar as well as Chinese soybean imports from all origins that totaled 7.7 MMT dur...
Disease Imports; G20 Misses; GMO Blog; Efficiency
G20 leaders meeting in China had several interesting conclusions about the global situation, but what really needs addressing are the unfair aspects of tra...
Mercosur Regional Analysis
Argentina’s soybean exports remain very quiet with old crop cargoes still offered by just one or two players at $1.35 over November for spot position. Mean...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Black Sea Regional Analysis
While Ukraine's milling wheat prices stopped rising because of the global market direction and milling rye prices remained stable, the general trend can be...
Market Commentary
Overnight trade saw generally higher prices for grains and the soy complex. The gains were modest in corn and wheat but more robust for soybeans and soymea...
Positive but Slow Economic Growth with Pressure on Ag and Food
The recent Institute for Supply Management (ISM) reports indicate growth, although slow, for the economy overall. There is still considerable pressure on t...
Supply and Demand
Four years of big crops in the U.S. and the world have brought some economic pain for farmers in the form of prices that, in many cases, are below the cost...
Middle East, Mediterranean and Africa Regional Analysis
Researchers at Saudi Arabia’s KAUST University announced that they have identified a gene in barley that may increase yields in crops subjected to certain...
Oilseed Highlights
The government of China wants to reduce the country's corn production and stocks as well as the volume of soybean imports. Its goal is to raise soybean pla...
Market Commentary
After the long holiday weekend, the overnight session saw a moderate volume of trading. The day session saw wheat and corn prices holding on either side of...
Cow Flatulence Tax; Complex Food Marketing
Despite the bulk of all feed grains being grown in the Midwest, California has managed to dominate the nation’s dairy production. However, the state legisl...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Corn and Presidential Elections
Yesterday was the beginning of the new corn marketing year, and a recent analysis indicates the direction of corn prices after 1 September seems to have a...
More Things to Keep You Up at Night
The giant corn and soybean harvests looming coupled with unprofitable low prices are creating a marketing dilemma for Corn Belt farmers. They are searching...
Transatlantic Mess; Views on Trade; Good Old Dayz
France is hosting a meeting of EU members to discuss the Common Agricultural Policy (CAP) and how it can better respond to the current supply/demand imbala...
Indian Subcontinent Regional Analysis
It is the end of the corn season, and India does not have any surplus of stocks despite farmers increasing the planted area in response to market developme...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Market Commentary
Markets were firm overnight with soybean futures trading as much as 10-11 cents higher. There was then more follow-through buying in the corn market today...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Oilseed Highlights
Canadian Prime Minister Justin Trudeau has achieved a small measure of success regarding the issue of China changing its foreign material limit for canola...
Policy Change; Hate Answer; FarmTech; Coup
Thus far, activist groups such as Plate of the Union have been unable to achieve any kind of presidential candidate focus on U.S. food policy. Meanwhile, t...
Market Commentary
It is a new month today, and fund selling of the grains slackened, which allowed some price recovery overnight. This recovery carried over into the day ses...
Free Trade Cycles
Support for free trade has ebbed and flowed in cycles that frequently track the ups and downs of national economies. Nearly every political leader is in fa...
North American Hogs and Pigs Inventory; Cash Receipts; Robotics
A cattle and sheep herding robot is being tested by the Australian Centre for Field Robotics. While the current model is more likely to replace herding dog...
Market Commentary
Overnight trading saw soybean prices open higher on a rebound, then slip lower under more selling pressure while the grains hung on to trade marginally on...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Rule by Irrational Mobs
Anti-GMOers want social or ethical concerns to be a consideration in biotech regulatory decision-making. However, this constitutes a slippery slope given t...
Black Sea Regional Analysis
Russia has revised its grain harvest forecast and is also considering a change regarding grain exports after a discussion during proceedings of the Russian...
New Year’s Eve for U.S. Corn and Soybeans
31 August is effectively New Year’s Eve for U.S. corn and soybeans as their 2016/17 crop year officially begins tomorrow. While it is doubtful that many in...
Mercosur Regional Analysis
The next few weeks will likely be marked with Brazilian corn buyers turning to Argentina for December and March shipments, and Argentine premiums will sure...
Yellow Charges; TTIP and Europe; No Problem
Anti-free trade campaigners attacked the pending EU-Canada Comprehensive Economic Trade Agreement (CETA) by arguing it would lower food safety standards. P...
Market Commentary
Grain and soy complex futures prices tried to stabilize overnight after Monday’s beatdown, and there were expectations for some sort of “Turnaround Tuesday...
Oilseed Highlights
Argentina’s major farm organizations fear new legislation that the government plans to introduce next month regarding royalties on biotech soybean seed. Fa...
Middle East, Mediterranean and Africa Regional Analysis
Egypt's ergot problem continues with its ever-changing tolerance level. The latest edict conflicts with the FAO determiniation of an acceptable limit for t...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
California Ag Overtime: A Budding National Issue?
The California minimum wage issue will, predictably, have broader economic impacts. The alarming development, however, is that this is becoming a national...
Market Commentary
Markets started quietly Sunday evening. While analysts thought corn would find some support after the Pro Farmer crop tour released a corn yield estimate b...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Where Will the Cash Flow Be Found?
Farmers are trapped in an uncomfortable dilemma. Selling the remaining old crop bushels or more unsold new crop production at current prices will generate...
China In-Country Analysis
Recent reports have documented a decline in China's corn plantings, and new soybean plantings there are also decreasing as is farmers’ willingness to...
Get Ready for Wheat Market Volatility
Recent analysis by WPI suggests the U.S. wheat market is poised for volatility in the coming months. A study of proprietary prices shows the increasing spr...
The Deficit and Rising Farm Spending
As farm and commodity groups seek additional financial assistance for the remainder of this year and start to focus on the upcoming farm bill next year, bu...
Self-Imposed Limits on Policymakers
Governments should not crush the populist appeals of dissenters, but they must find a better way of responding to them. At minimum, this means achieving gr...
TPP Officially Dead; Slippery Slope; Energy Crops
Beef cattle catch a lot of grief for their land and water requirements, but a recent USDA analysis shows them to be a relative energy bargain. TPP Official...
Market Commentary
Quiet and slightly firmer overnight trade turned into a rout mid-morning today when wheat and soybean futures broke some key technical support and plunged...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Indian Subcontinent Regional Analysis
Prime Minister Modi recently assessed the Ethanol Blending Program (EBP) for India and wants 10 percent of the output made available across the country. Ho...
Tax Extenders for Renewables in the U.S. and Brazil
The biodiesel tax credit will expire in December if not renewed. Senator Charles Grassley (R-IA) has proposed legislation, co-sponsored by 13 other senator...
Flatliners
While it’s easy to sit back now and wonder how markets could collapse so far so quickly, the fact is (was) that a full-blown summer drought wasn’t needed t...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Oilseed Highlights
Monsanto's withdrawal of its application to sell Bollgard II Roundup Ready Flex cottonseed in India is said to be due to a new government-proposed requirem...
Naturally Dumb; Trade Policy Frustration
The term “natural” is not defined by the U.S. FDA for its use in labeling food products, and companies are increasingly being challenged in court by litiga...
Dairy Policy, Politics and the Cheese Market
Dairy policy has always been highly politicized from Lyndon Johnson’s time in the Senate in the 1950s right up through this week as USDA announced a major...
Market Commentary
With the Pro Farmer crop tour finding higher pod counts than last year and Chinese soybean buyers hiding, traders started to unwind soybean/grain spreads i...
Does It Matter How Big is Big?
It seems that there is a greater-than-usual fascination with the question of what the 2016 U.S. corn and soybean yields will ultimately turn out to be, whi...
Unintended Consequences: Labor; GMO-Free; Terrorism
Some are calling it scaremongering by Angela Merkel’s government, but her latest civil defense policy is likely welcome news for agriculture. Automation Pu...
Market Commentary
Overnight trade featured low volume and lower prices, including new contract lows for Chicago wheat. That theme carried over into the day session with soyb...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Black Sea Regional Analysis
Milling wheat bids at the UBS ports increased in UAH expression to $164-172/MT CPT-port (3rd and 4th grade), and export offers grew to $164-174/MT.&n...
Mercosur Regional Analysis
Given Argentina's soybean export duty situation, trading houses are taking different strategies for the coming campaign. Several recent sales would be inte...
Oilseed Highlights
Brazilian fertilizer companies are being challenged this year by a shortage of trucks amidst rising demand. This has driven up the cost of transporting the...
Post-Brexit Ag Policy; Tech Attracts Youth
Aging farmers and the myth that we’ll run out of them continues to be a media favorite story. The latest involves worry over attracting young people to the...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Middle East, Mediterranean and Africa Regional Analysis
The ”smart-card” system in Egypt for subsidized food, including bread, is being moved to the control of the military production agency from the ministry of...
USDA’s Role in Foreign Acquisition Review
Yesterday CIFUS reportedly sanctioned the proposed purchase of Syngenta by ChemChina. The acquisition is controversial and has sparked opposition from a wi...
Canadian Crop Production Estimates
Weather problems have taken the edge off yield potential for some of Canada's spring-sown crops, particularly one. There is also another element that canno...
Market Commentary
Grain and soy markets started out weaker in overnight trade and continued to trade red numbers throughout the day session in a relatively subdued manner. M...
China In-Country Analysis
China’s estimated domestic soymeal inventory unexpectedly declined by 50,000 MT (-5.88 percent) last week to 800,000 MT, driven mainly by two factors. Now...
Market Commentary
Funds were selling wheat again today and had reportedly sold more than 7,000 contracts of Chicago wheat by noon. Meanwhile, soybean and soymeal futures tur...
Southeast Europe Regional Analysis
At today’s prices, the Russian 12.5 pro wheat is about $15 cheaper than the German wheat and approximately $20 less than U.S. HRW on FOB basis. For Decembe...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Trade Policy Holes; Anti-GM Religion; Just Lying
Activists opposed to conventional food and agriculture often step over the line, but one has finally been caught. Trade Policy to Address Industrial Policy...
A Look at U.S. Crude Oil Exports Six Months After Ban Lifted
The U.S. lifted its decades-long ban on crude oil exports in December 2015. Prior to the ban, they had essentially only been allowed to Canada with two exc...
U.S. Corn Yields – A New Record or a 2010 Surprise?
USDA forecast a record U.S. 2016 corn yield of 175.1 bushels/acre on 12 August and a record crop that will exceed 15 billion bushels (385 MMT) for the firs...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Indian Subcontinent Regional Analysis
Considering how difficult it currently is to cull/sell cows in India as there is likely to be a clash of ideologies with the Hindu lobbies, farmers in some...
Wheat – Burdensome Feed Quality versus Tight Milling Quality
2016 will be another big wheat production year. The question will be how quality wheat separates itself from the voluminous amount of feed wheat, but there...
Russia Slammed; Bear Market Policy
The populist National Farmers Union (NFU) has now provided some ideas on how to address the economic fallout of a long-run bear market. Russia Slam...
Market Commentary
Soybean futures were weaker again overnight with the November contract dipping below $10. Meanwhile, corn and wheat were mostly steady overnight but turned...
EPA Did Not Comply With RFS Assessment Obligations
Yesterday the U.S. EPA’s Office of the Inspector General released its report on a review to determine if the agency complied with the statutory repor...
Oilseed Highlights
India has sharply boosted its soyoil imports this year as its vegetable oil refiners have a reason to prefer those stocks over palm oil. Reaching USDA Fore...
Brazil versus U.S. in Meat Production; Cattle on Feed
Last month's feeder calf placements data points to a changing supply situation for the beef market next quarter. Similarly, feedlots' fed cattle marketings...
Bear M&A; Ag Policy Ahead
Bear markets always spur more mergers and acquisitions as firms scramble to find savings and survive. Several are currently underway, and members of Congre...
Supply and Demand
It is not at all unusual to find a period of time in a single crop cycle when the supply side appears dominant and another when demand seems to take over...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Market Commentary
Grain and soy complex prices mostly traded lower in overnight action as the technically overbought Malaysian palm oil market corrected from yesterday’s big...
Market Commentary
After a rather tentative overnight session, CME grain and soy complex futures put together a rally during the day session in which consistency was more imp...
Black Sea Regional Analysis
A downward trend still dominated most of the Russian grain market, although the prices for feed barley and corn were unchanged. Meanwhile, there is a dispu...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Mercosur Regional Analysis
Last year, Brazilian soybeans were able to compete against U.S. origin through December, and even January showed some exports. That will not be the c...
Government Math; Pocket Change; GM Beats Neonicotinoids
Collateral damage to non-target species by pesticides should come as no surprise. What is surprising is that the superiority of genetic modification as a p...
Corn Market Conundrum
Despite the very high weekly corn crop condition ratings that persist even though they should begin a seasonal drop, there appears to be widespread skeptic...
Blockchain Disruption; TPP Strategy; Trump Aggies
Big banks are racing furiously under the assumption that blockchain technology is going to undermine the need for their role in ensuring the integrity of f...
Ethanol Production Capacity Increases for Third Year
According to the U.S. Energy Information Administration (EIA), domestic fuel ethanol production capacity has increased for the third consecutive year in 20...
Oilseed Highlights
The National Oilseed Processors Association (NOPA) yesterday released its July monthly soybean crush report, which indicated a drop in volume versus the pr...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Market Commentary
The overnight session saw two-sided trade in reduced volume. While volume improved somewhat during the day session, price action remained indecisive. Fund...
Middle East, Mediterranean and Africa Regional Analysis
Kenya will begin a two-season GM maize testing program in October. The hope is that the biotech variety will be found to be superior to the current maize s...
Court Rules EPA Pesticide Review Must Move Ahead
A three-judge panel from the Ninth Circuit Court of Appeals chastised the U.S. EPA once again last Friday for a string of delays in taking action on a requ...
Southeast Europe Regional Analysis
Saudi Arabia bought 640,000 MT of hard wheat for October/November at prices equivalent to about $196-198 FOB. The cheapest origins were Germany, Poland and...
Is It Real or Is It Memorex?
Most people won’t remember the “Is it real or is it Memorex?” slogan. With soybean futures finishing today up to 27 cents higher, though, some are wonderin...
Market Commentary
Agricultural markets opened steady to a fraction lower Sunday night, but soybean futures were trading good gains within the first hour. The buying across t...
China In-Country Analysis
As China's per capita income has boomed, the dining habits of young professionals have changed dramatically. Consequently, demand for high quality flour ha...
Policy Conundrum; Extraterritorial; High Prices
There is great frustration on the part of some that the adverse impacts of the food system fail to garner more political attention in a major election year...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Market Commentary
Markets were calm overnight in anticipation of today’s USDA WASDE, which is how today’s session started. Corn had new contract lows before the reports were...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Will Checkoff Programs Be Reformed in the Farm Bill?
Commodity checkoff programs, also known as research and promotion programs, have been the center of controversy in the last few years. As to be expected, w...
WASDE Farm Bill Impacts; Russia Loses; TPP Movement; Barriers
Today’s WASDE report from USDA may have been bearish for the commodity markets, but it was bullish for the farm spending component of the next farm bill. W...
Bearish USDA Reports
Today’s USDA reports were bearish at first glance. However, the picture for soybeans looks much more bullish when factoring record demand against reduced o...
Indian Subcontinent Regional Analysis
GOI may not be able to procure the volume of ethanol required to meet its Ethanol Blending Program (EBP) mandate of a 10 percent blend in all gasoline used...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Ag Review: Aquaculture's Global Appeal
The Aquaculture Juggernaut Despite efforts by antagonists to end fish farming, its efficiency will keep it the dominant animal protein production methodolo...
Ag Hypocrisy; TTIP Potential Squandered
Neither the political left nor right possesses a monopoly on hypocrisy, but today’s example involves Iowa agribusiness owner Bruce Ratstetter, who is...
Market Commentary
Grain and soy markets traded rather quietly on both sides of Wednesday’s closes overnight, but action picked up during the day session, at least in terms o...
The Looming EU Wheat Futures Battle
Euronext’s Paris wheat futures could be considered a far better and more logical proxy for the world wheat market than Chicago wheat futures. The CME Group...
Oilseed Highlights
Argentina's oilseed processors want the country to grow more soybeans so that they can increase their capacity utilization. The country currently has about...
A Look at Cattle Herd Rebuilding
Among market watchers, there is now a great deal of prognostication about the pace of the cattle herd rebuilding amidst positive beef demand signs that can...
Black Sea Regional Analysis
Traders' domestic milling wheat bids in Ukraine kept growing, possibly due to rising export prices. Prices at the UBS ports prices continued to increase as...
Mercosur Regional Analysis
Argentina’s new crop soybean market was active again this week. Two CNF cargoes were traded at $110 and $106 over the July CBOT contract, and one FOB cargo...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
PC Marketing; Flunking Science
NGOs in the United Kingdom are complaining to officials because food companies are predominantly marketing snack foods and drinks (“junk food”) during the...
Market Commentary
The overnight session featured stronger soybean and soy product prices with subdued trading of corn and wheat on both sides of Tuesday’s closes. However, t...
Indigenously Natural; Best Commodity Policy
Today was the International Day of the World’s Indigenous Peoples, which basically praised these subgroups for their disengagement from the world. The whol...
Market Commentary
Grain and soy prices were mildly lower in overnight trading with volume no better than average. During the day session, trading in corn and wheat was a two...
Booming Export Demand
The June data shows that the trend toward larger U.S. exports is already underway, but current export sales volumes for 2016/17 provide a way to add some q...
Oilseed Highlights
Indonesia’s palm oil stocks fell 8.2 percent to 1.8 MMT in June from 1.96 MMT at the end of May. That was the sixth straight month that they have declined,...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
U.S. Farm Production Expenditures Down in 2015
Total farm production expenditures were estimated at $362.8 billion for the year, an 8.8 percent decrease from $397.6 billion in 2014 that was driven by se...
Middle East, Mediterranean and Africa Regional Analysis
Recent analysis of maize cereals and flour in Tanzania have shown very high levels of aflatoxin, but the government claims a different cause of the reporte...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Farmland Economics
USDA’s National Agricultural Statistics Service (NASS) has released its annual survey results on farmland values and cash rents, which indicate some change...
Report Week
Virtually everyone involved to any extent in corn and soybean markets is anticipating that USDA will boost those yield estimates, chiefly for two reasons...
Milking the System; Orwellian Policy; Killer Trade
Canada will extend and make permanent a program that enables dairy processors to obtain domestic milk at world market prices, which are well below the guar...
China In-Country Analysis
The sizable spread between China’s domestic wholesale pork price and foreign-produced pork, which went as high as RMB 26.74/kg ($4.02/kg) in Shanghai this...
Market Commentary
Soybeans, corn and wheat opened better than expected Sunday evening, and volume overnight was fairly strong in all three markets .USDA's announced sale of...
Southeast Europe Regional Analysis
The prospects for limited exports out of France are increasing demand for Black Sea wheat as well as other origins. There was one unusual trade involving t...
Indian Subcontinent Regional Analysis
As India’s inability to import non-GM corn from international markets continues, high input and low output prices as well as other issues over the past few...
Farm Policy Risk; Trade Policy Risk
With the increasing attention in Washington on income inequality, any focus in the future on what parts of agriculture have money and assets while concurre...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
More Things to Keep You Up at Night
The surge in corn and soybean export demand is elevating shuttle freight values as well. However, this is not a positive development for some. Meanwhile, t...
CME Announces More Changes for Cattle Futures
Today’s announcement included news that the CME will add a seasonal discount on live cattle tendered to one delivery location for the October contract (onl...
Market Commentary
USDA announced additional soybean export sales this morning, which pushed soybean futures as much as 20-22 cents higher early in today’s session. Corn stru...
Market Commentary
Grain and soy contracts once again tried to stage a rally overnight and then early in the day session. Meanwhile, the corn market is continually weighed do...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Domestic Meat Consumption Up; Beef Trade Deal with Brazil
Domestic meat consumption in the U.S. is back on the rise with several factors all contributing to lower prices. Last year and 2013 were the on...
Oilseed Highlights
It could be assumed that sustainability would not be much of an issue in the developing countries of Southeast Asia. However, there are European firms with...
Speculative Position Limits – Again
Like the proverbial bad penny, the issues raised by the CFTC’s proposals to establish limits on the size of speculative positions held in derivative market...
Late Complaint; Ganges Food; Darwin Eaters
Now that a WTO dispute settlement panel is forcing India to allow imports of American poultry products, the nation’s chicken farmers are nervous. Their rep...
Mercosur Regional Analysis
Despite Argentina's high premiums, Brazilian buyers procured corn at $130 over the December contract for delivery in October and November. A large concern...
Market Commentary
Like corn, soybean futures contracts spent most of today’s trade posting green numbers. November soybeans were up as much as 13 cents at the day’s high bef...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Black Sea Regional Analysis
Grain prices on the Russian market continued to decrease overall, more significantly when expressed in USD since the ruble has weakened so much over the pa...
Middle East, Mediterranean and Africa Regional Analysis
Egypt’s wheat inspection committee announced that its initial investigation shows a small portion of the government’s local wheat purchases cannot be locat...
Oilseed Highlights
China's Agriculture Minister Han Changfu has announced government plans regarding future corn plantings that could have an impact on the country's soybean...
Ag Perspectives Readers’ Corn Yield Forecast
A survey of Ag Perspectives readers suggests the 2016 U.S. corn yield will exceed both 2014’s record and current USDA projections.What will the 2016 U.S. c...
North American Carbon Reduction: A Tale of Two Nations
A carbon tax was the concept behind President Obama’s cap and trade proposal that was ultimately abandoned early in his first term. In Canada, meanwhile, E...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
A Few Comments Upon Entering August
While grain and soy markets seem to slow down in August during some years, 2016 may not be such a time as there is so much going on of potential importance...
Sweet is Sweet; Inequality
Although income inequality was heightened by the Great Recession and has statistically tempered, it remains a major policy concern. The outcome of research...
Market Commentary
The overnight trade saw wheat prices edge higher while corn and soybeans drifted lower on yesterday’s fancy crop condition ratings. Trading volume was a bi...
Farm Income Problems and What to Do
Low prices and weak or no profits are spurring a resurgence in marketing interest among farmers, and there are several steps that each can take.There have...
China In-Country Analysis
In an effort to reduce China's swelling inventory of imported soybeans, crushing facilities steadily boosted their utilization rates throughout July. Howev...
Market Commentary
The soy complex opened weaker than expected Sunday evening and really never looked back last night or today. November futures were down as much as 44-45 ce...
Productivity; People; Marketing
Like Europe, U.S. use of inputs like fertilizer slowed as genetics and technology increased in their role in production. The difference is that U.S. agricu...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Impact of Presidential Race on Senate and Committees
Now that the major parties’ nominating-conventions are over, the presidential campaign enters its home stretch, a 100-day sprint to the finish. One o...
ARC Program in Search of New Yield Data
The American Soybean Association (ASA) just completed its July board meeting, and it is urging USDA to provide an administrative fix to the 2014 Farm Bill...
Market Commentary
While corn is sitting at or near contract lows and wheat was lifeless again today, the soybean market received a lift from another round of export sales an...
More Concerns About the Farm Economy
The price collapse during July has again started to highlight some concerns about the state of the U.S. farm economy, but there is one bright spot.The pric...
Bitter Labeling; U.S. Election and Economy
The recently enacted GMO labeling law may cause a bitter rift in one U.S. industry if USDA uses its discretion and determines that products containing suga...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Indian Subcontinent Regional Analysis
India's sugar prices are expected to remain volatile as its area under sugarcane is down approximately 4 percent for 2016/17. Sugar is priced at $540/MT on...
The Best of All Worlds
2016/17 is shaping up to be a far different and better year for producers, handlers, transporters, processors and exporters of the major U.S. row crops tha...
Oilseed Highlights
Compared with 2014/15, this year’s volume of U.S. soymeal exports has not been very good. However, it would be even worse if not for the big increase to tw...
Market Commentary
After trading slightly higher overnight, soybean futures prices gave way to a milder weather outlook and less than overwhelming weekly export sales data. T...
Mexican Beef Imports Increase – Don’t Tell Trump!
Republican presidential nominee Donald Trump has proposed renegotiating NAFTA and other existing trade deals. His motivation is based on a belief that a co...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Trade Strategy; China’s Feed Market
China’s imports of DDGS were up nearly 20 percent in June but still down 75 percent compared to the first of last year. They should be higher based on the...
Industrial Challenge; GMO Contrasts; Cuban Mirage; TPP Death
The two major U.S. presidential candidates, Clinton and Trump, could not kill the prospects for a lame-duck vote on the Trans-Pacific Partnership (TPP) by...
Mercosur Regional Analysis
The Brazilian soybean market has been reactivated for new crop. Fueled by the drop in CBOT soybean prices, buyers have been showing significant interest, a...
Black Sea Regional Analysis
Domestic milling wheat bids quoted by traders in Ukraine grew due to the slowdown in harvesting caused by rain as well as the low share of milling wheat in...
Market Commentary
Grain and soy markets traded in better volume overnight with mixed results. Soybeans were firmer, but the grains held unchanged to slightly lower. Soon aft...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Market Commentary
The U.S. wheat futures market was reacting to a 4.50 euro decline in the spot Paris wheat futures contract after several days of price appreciation. The so...
Middle East, Mediterranean and Africa Regional Analysis
Silo owners in Egypt are reportedly protesting that the committee tasked with investigating the government's local wheat purchases is totally incompetent...
Looking Ahead to the August WASDE
One feature during July has been the consistency of USDA’s weekly crop condition ratings for corn and soybeans. There is already considerable discussion ab...
EU Fast-Track; Glyphosate Review; Gastro-Defamation
A post-Brexit revolt by member states has forced Brussels into conceding a ratification process to national parliaments on the Canada-EU Trade Agreement (C...
Reducing Food Waste: Will It Impact Commodity Markets?
USDA and the EPA have targeted a 50 percent reduction in food waste by 2030, which is about 4.75 billion pounds (2.375 MMT) annually for the next 14 years...
Oilseed Highlights
It has been Vietnam’s rapidly increasing demand for pork, poultry meat and farm-raised fish that has driven the quick growth in demand for soymeal, corn an...
China In-Country Analysis
An analysis of the Dalian monthly data for June compared with that from May shows that the markets for soybeans, corn and related products are experiencing...
Southeast Europe Regional Analysis
The French market will be very volatile in the coming days/weeks under the influence of the reported yields and quality as the harvest progresses to the no...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Wrath for China; Convention Education; Trade not Harmful
Washington is known for lobbying, but the quadrennial U.S. political conventions are equally ripe targets for those trying to influence future policy direc...
More Things to Keep You Up at Night
Now that weather has faded from the market screens, there are other items to discuss. Among a few to start the week are shuttle train values, U.S. winter w...
Veep Versus Veep on Agriculture
The two major party presidential candidates have now named their running mates, and both have distinct records as well as positions regarding agriculture.B...
Market Commentary
The soy complex was again under fairly heavy selling pressure to start this week. Meanwhile, corn had a narrow trading range today. Funds have liquidated t...
Market Commentary
Funds were still holding fairly large long positions in soybean and soymeal futures, but they were heavy sellers in both today. Corn withstood that onslaug...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Bad Food for College
Canadian journalist and author Malcolm Gladwell has written some awesome books about life’s dynamics, but his latest correlation may be half-baked...
Ethanol Hits Record Output
Ethanol output jumped last week by 25,000 barrels per day (bpd) to a weekly average of 1.03 million bpd, setting a record for the second consecutive...
Funds Give Up on a Weather Market
The spring rally in the soy complex, which dragged corn and wheat along, fit nicely into the La Nina weather scenario. Funds were very early to jump on tha...
Indian Subcontinent Regional Analysis
Early this month, the United States sought trade sanctions against India after winning a dispute at the WTO regarding restrictions on imports of its poultr...
Market Commentary
It was a two-sided and rather quiet market, both during overnight trading and again during the day session. However, that is not to say there was no price...
Oilseed Highlights
Today’s USDA export sales report indicated last week was good for U.S. soy. The sales suggest the U.S. will have excellent exports through the remainder of...
China Non-Market; SPS Cost; Cost of Non-GMO
The U.S. is hoping to negotiate with China on supply controls regarding steel and other products when the G-20 meets in September. Meanwhile, the EU says t...
China Drives Pork Expansion
While pork exports are down 6 percent from last year based on slower slaughter, those to China and Hong Kong increased notably during January-May with addi...
Tales from Export Sales
This week's Export Sales report from USDA offers insight into the grain market's likely price pattern going forward. Based on historic export patterns, U.S...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Market Commentary
The overnight session started with a halfhearted effort by grain and soy futures markets to recover from yesterday’s beatdown. Trade was on both sides of T...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Black Sea Regional Analysis
Russia's domestic grain prices dropped as they traditionally do at this time of year, supported by a higher average yield at this time, although corn price...
Stall and BS; China Hot Seat
The U.S. and India began talks to resolve a dispute over poultry trade before Washington imposes $450 million in retaliation. However, prospects are not go...
Mercosur Regional Analysis
All ports in Argentina are facing logistic challenges that stem from Monday’s strike by two popular trucker unions. Meanwhile, traders there are debating w...
Is the Wheat Outlook Changing?
The wheat market has been immersed in such a bearish mentality for so long that it almost seems to have become a permanent condition. However, there are so...
Platform Jiu-Jitsu; Precautionary Kills
The Republicans struggled with writing the trade-related provisions of this year’s convention platform. That is because their presidential candidate is les...
Ag Plank of the Republican Platform
Yesterday was the opening day of the Republican convention in Cleveland. Delegates there adopted the party’s latest platform, which included some highlight...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Market Commentary
After soy and corn prices recovered yesterday from deep early losses to close solidly higher, markets were unprepared for the unexpected rains and milder p...
Oilseed Highlights
There is no question of a potential decrease in China’s soybean imports next year due to several factors, including a change in its price support program f...
Middle East, Mediterranean and Africa Regional Analysis
13 African nations met in Tanzania to discuss ways of controlling aflatoxin, mainly with maize and groundnuts (peanuts). Much time was focused on the succe...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Market Commentary
Markets opened lower Sunday evening with soybeans again leading the markets down. November soybeans traded as much as 24 cents lower overnight on continued...
China In-Country Analysis
China’s estimated soymeal inventories continued to climb nationwide last week, rising another 80,000 MT to a total 800,000 MT. Several factors caused this...
The Curious State of Wheat
There hasn’t been any positive or bullish news around the wheat markets for a very long time. Despite what appears to be overwhelmingly bearish U.S. and wo...
Egg Market Volatility
In less than one year’s time, eggs have moved from record-high prices due to the outbreak of highly pathogenic avian influenza (HPAI) to the lowest prices...
Massaging GIs; Entertainment, Not Policy
The latest Transatlantic Trade and Investment Partnership (TTIP) negotiations reportedly made progress in several areas, except on Brussels’ demand for Geo...
Southeast Europe Regional Analysis
The Algerian OAIC bought 400,000 MT of EU wheat, paying around $198/MT CNF. Algeria is traditionally a captive market for French origin, but the French exp...
UK Upper hand; R versus D on Ag
The two major U.S. political parties generally find ways to take polarizing positions on everything, and that includes agriculture. UK Upper hand The Frenc...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Market Commentary
To say that weather markets are unpredictable is to state the obvious, but today’s whipsaw price action carried that to an extreme. Soybean futures prices...
Does Monetary Policy Matter Anymore?
The conventional wisdom of the past eight years has been that without central bank action, the crisis of 2008-09 would have turned into a global depression...
Weather and Yield Cushions
It is now at the mid-point of the growing season, and weather has been quite good. However, extended forecasts suggest a potential threat to yield cushions...
Indian Subcontinent Regional Analysis
As India's domestic corn price remains higher than those on the world market, the country's 2016/17 corn tariff-rate quota (TRQ) of 500,000 MT was announce...
Oilseed Highlights
Senators Chuck Grassley (R-IA), Maria Cantwell (D-WA) and 12 others yesterday introduced legislation that would extend the current $1/gallon biodiesel tax...
TTIP Wall; GMO Happy; Dumbing Quality
EU officials have expressed frustration that their U.S. counterparts have been unwilling to match their market access offers for advancing the Transatlanti...
Cage-Free Massachusetts
The Humane Society of the U.S. (HSUS) has proposed a ballot initiative for this November’s election in Massachusetts, which was approved by the state’s Sup...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
The Next New Guessing Game
Weather market is a term most applicable during times when prices are driven primarily by fear of what an extended period of adverse weather conditions mig...
Market Commentary
Soybean futures prices were hammered into big losses when hints of improved weather prospects sent long positioned traders running for cover. Today’s volat...
Market Commentary
Yesterday’s post-report rally continued in overnight trading with grains and the soy complex all posting gains. That same pattern continued again during th...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Mercosur Regional Analysis
The rapid increase in Argentine corn export premiums continues as they climb to the mid-90s for August-October shipment. Typically, fast-rising premiums le...
Black Sea Regional Analysis
A downward trend continued to dominate the Ukrainian milling wheat market last week and also spread to corn. The main reasons for this were the growing off...
Fresh on Brexit; Ordering up Food
Venezuela's civilian leadership has tried vilifying the private sector food system, but that tactic failed to address shortages and food inflation. The per...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Oilseed Highlights
USDA’s WASDE report of today further tightened the soybean supply situation by boosting exports. It also raised its forecasts for soybean exports and crush...
Free Trade in Ag
The Heritage Foundation, a free-market think tank in Washington, DC, released a paper yesterday, “Promoting Free Trade in Agriculture,” which is part of th...
Market Commentary
Today’s market action, particularly the late soybean rally, has more to do with the potentially adverse weather outlook than anything contained in the July...
The July WASDE
USDA's July WASDE was released at midday, which included updates to its U.S. and world supply/demand estimates for 2015/16 and revisions to its proje...
Middle East, Mediterranean and Africa Regional Analysis
Zimbabwe and Malawi are both expected to suffer a notable drop in this year's maize production. The deficit will be very difficult to source from neighbori...
Ag Review: Trade, the Election, and the Future
Trade, the Election and the Future Renegotiating trade agreements and improving citizen understanding are necessary public policy goals. The Importance of...
Veep Speculation: GOP and Democratic Selections Pending Soon
Speculation over who presumptive presidential nominees Donald Trump and Hillary Clinton will pick as running mates is heating up as their respective party-...
Market Commentary
The extended weather forecast pushed soybean futures sharply higher to start the Sunday evening session. Corn and wheat were very reluctant followers, and...
USDA July Report Preview
Tomorrow’s corn numbers will almost have to be bearish. Meanwhile, the soybean outlook has clearly changed from a fundamental perspective after the world a...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
China In-Country Analysis
Given that four state-owned enterprises are the primary producers of ethanol in China, the government has appeared to throw them a lifeline by allowing the...
Trade Policy Wall; Clinton versus Trump
Trade negotiations are going to be stuck for quite a while, and yet the status quo is an unfavorable situation. Trade Policy Wall TTIP: This week Brussels...
Southeast Europe Regional Analysis
The Black Sea milling wheat market is under pressure as the harvest is progressing rapidly under favorable weather. It has dropped approximately $20 in abo...
Indian Subcontinent Regional Analysis
India has decided to increase the blending rate of ethanol in gasoline to 22.5 percent. However, the big question pertains to how this ethanol will be sour...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
India Retaliation; Politics over Science; NAFTA ROO
India has been blocking imports of U.S. broiler meat for nearly a decade, which was ruled illegal last year by a WTO dispute settlement panel. However, New...
Market Commentary
Soybean and soymeal futures took a real beating this week as funds reduced their long positions. It was a combination of better U.S. weather and weaker out...
Viewing Brexit Through Jane Austen, the Queen, and Economic Policy
Almostt all of the information on the effect of Brexit is speculation at this point. However, the bottom line on economic growth for the UK boils down to w...
The Power of Money (Again)
The collapse in the soy complex, corn and wheat in just two weeks has been nothing short of amazing. It started with another “Black Swan” event when Great...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Taxing Beans; Shuttering Democracy; UN Diktats
The World Health Organization is lamenting the fact that many governments have failed to employ marketing restrictions against foods deemed to contribute t...
Oilseed Highlights
The Canadian province with the fastest-growing soybean area in recent years has been Manitoba where it has expanded 103 percent since 2012. This has been m...
GMO Labeling Debate Never Ends
The prospect of facing a patchwork of state labeling requirements caused food companies to push Congress to pass national labeling legislation that would s...
Putting the Brakes on Cage-Free Eggs?
When many major food services and several retail outlets made the decision to switch to cage-free eggs, the market was different than it currently is. Now...
Market Commentary
Overnight trading featured a strong rally effort by corn, which pulled wheat along as soybean prices fell under renewed selling pressure. Soymeal and soybe...
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...
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...
Market Commentary
Soymeal futures did not need today’s expanded trading limits that resulted from yesterday’s limit down closes, but they did fall roughly $18 at session low...
Labeling Mess; Subsidizing Competitors; Trade Plan
Both the Vermont labeling law and the proposed federal labeling requirement pending in Congress are likely to lead to consumer confusion, but an equally ba...
Market Commentary
Macro weakness and favorable weather made a bearish combination for grain and soy markets. Even so, the soybean market’s gap down opening and subsequent co...
Middle East, Mediterranean and Africa Regional Analysis
Algeria’s purchases of French wheat are reported to be up 62 percent over last year. However, there are fears that the drop in its quality because of the h...
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...
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...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
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...
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,...
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...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
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...
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...
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...
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...
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...
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
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...
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...
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...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
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...
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...
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...
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...
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...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
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...
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...
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...
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...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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
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...
Brexit Informs Much; One-Sided Transparency
According to polling in Britain, the Leave or Brexit campaign is largely supported by older, lower-skilled workers. By contrast, the Remain or Bremain posi...
Black Sea Regional Analysis
Ukraine's milling wheat prices decreased slightly because of a more stable national currency and slightly lower export prices. Feed wheat and barley prices...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
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...
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...
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...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
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...
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...
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...
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...
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...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
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...
Ag Appropriations Pilot Program to Reassess 2014 ARC Payments
The FY 2017 agriculture appropriations bill includes a provision offered by Senator John Hoeven (R-North Dakota), initiated by concerns that some North Dak...
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...
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...
Insights from Consumer Food Spending
This week the Census Bureau released the May 2016 U.S. retail sales data. This marked the 14th consecutive month that food service has outsold the grocery...
Market Commentary
The multi-day collapse in soy complex prices ended overnight with higher trade in soybeans and soymeal, and that strength dragged corn and wheat along as w...
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...
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...
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...
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...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
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...
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...
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...
Black Sea Regional Analysis
Domestic grain prices in Russia increased for almost all crops because of the tight deficit of stocks. Meanwhile, they were mostly stable in Ukraine...
Mercosur Regional Analysis
Brazil cannot sell any more deferred soybeans, and some of the recent market trades for July and August were just washouts or short covering. Meanwhile, Ar...
Market Commentary
The overnight session saw grain and soy prices work both side of yesterday’s closes, although they were slightly firmer as the trading recess neared. Led b...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
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-...
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...
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...
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...
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...
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...
Organic Chemical Burden; Trade Rules
Big Ag continues to play defense and thus gets beaten regularly in its battle against antagonists. The latest black eye was delivered by 47 Green Party mem...
China In-Country Analysis
Weekly data from the Dalian Exchange confirms the trend in soymeal that began in early May has now weakened as investors take profits. Through today, the s...
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...
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...
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...
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...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
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...
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...
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...
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...
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...
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-...
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...
Stone Age Starvation; All Politics
In the U.S., regulators with a scientific background weigh the approval of new drugs and chemicals. In the EU, it is left up to politicians and the sway of...
Oilseed Highlights
One of the advantages Argentina has had in the last year in exporting soybeans, soy products and other agricultural commodities has been its weak currency...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Mercosur Regional Analysis
The South American soybean market showed some movement in the first week of June. In Argentina, trades were made at levels of 49 SN for June shipment and 6...
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...