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USDA Reports Offer Mixed Results

The USDA reports contained something for nearly everyone. While there were some other reports this week of smaller-than-expected corn harvest yields, it wi...

Market Commentary

The markets were very quiet overnight and this morning until they turned weak an hour ahead of the 12 p.m. (EDT) USDA report release. This was the same pat...

Closing Futures Prices

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

Fizzle FSMA; El Nino Guessing

The U.S. Food & Drug Administration issued new rules under the Food Safety Modernization Act (FSMA) that mandate food and feed processors implement pat...

Indian Subcontinent Regional Analysis

The government of India (GOI) is taking certain steps to help the domestic sugar industry with its surplus supply. Production continues to far exceed local...

Labeling; Efficiency; TPP

The Hungarian government once destroyed GM crops and has claimed a desire to be the first EU country to completely ban their cultivation under the new auth...

Market Commentary

It was evident that the level of commitment increased today as corn contracts showed their strongest resolve to move higher during the past four days of up...

Oilseed Highlights

Reports out of Argentina indicate farmers there are having a real problem securing financing to put in their next crop, and their failure to honor the roya...

Closing Futures Prices

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

Red Meat Exports Down

A CoBank report this week predicted a two-year erosion in meat prices due to a decline in exports stemming from a stronger U.S. dollar and increased U.S. p...

Trading Dynamics

Timing is of extreme importance when trading as commodity markets are filled with emotional participants and a great deal of money. Even accomplished hedge...

Oilseed Highlights

Soybean and corn prices already have fallen to unprofitable levels for nearly all farmers. The almost certain big crops this year in the U.S. and the likel...

Market Commentary

Today was the third day of corn contracts slowly working higher in narrow daily trading ranges as positions are adjusted, and the December contract still d...

Closing Futures Prices

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

WTO Leadership; GMO Trends

In a twist on the old saying that you can offer someone a great opportunity but can't force them to accept it, WTO members continue their decade-plus recor...

Mercosur Regional Analysis

At the moment, present global prices in the soy complex do not offer favorable margins for Brazilian and Argentine market participants. This basically mean...

Black Sea Regional Analysis

Ukrainian Agrarian Policy and Food Minister Oleksiy Pavlenko announced the grain harvest forecast on 7 September 2015, which he noted will be 255 percent o...

Middle East and Mediterranean Regional Analysis

The Turkish lira has reached a record low against the U.S. dollar after falling 22 percent so far in 2015, and that is pushing up prices for imported grain...

Closing Futures Prices

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

Price Influences and Opportunities

The current period of low global grain prices presents a temporary opportunity for end users to be proactive, primarily because this is a time is when grow...

Natural Gas Low and Slow Going into Fall

We are going into the fall this year with historically low natural gas prices, and the current bear market situation is being driven by one large factor.Th...

Market Commentary

The nearby contracts for soybeans, meal, and soyoil all appear poised to challenge their respective 10-day moving averages. The charts for each look as tho...

Market Commentary

Grain and oilseed futures were relatively quiet in low volume trade ahead of the weekend. Funds were light sellers of corn and soybeans and light buyers of...

Closing Futures Prices

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

Indian Subcontinent Regional Analysis

India's rapeseed and mustard seed prices are now rising in tandem with demand due to the non-availability of other oilseeds, while mustard seed oil is also...

Ethanol Exports Growing

While the EU anti-dumping and countervailing duties against the U.S. are in place for two-and-half more years, global oil prices have crashed and the U.S...

Brazil’s Farmers Struggling

Recent conversations with an associate farming and living in Brazil underscored a number of concerns that will eventually have a negative impact on crop pr...

Divide; Losing Ugly; Smiling

The divide between urbanites and the agriculture community apparently goes beyond language and experience and directly to differing sources for research. U...

Closing Futures Prices

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

The Short Term and the Long Term

Macro issues are currently driving prices as much or more than micro fundamentals such as supply and demand. Commodity markets have been bearish in the rec...

Broiler Chicks for Mexico

There was a notable gain in broiler pullet chick placements for future domestic hatchery supply flocks during July 2015, which indicates an ample supply of...

Green; White; TPP Stimulant

U.S. agriculture has been scoring some wins in the environmental arena of late, and there is hope regarding another pending ruling. Green Wars U.S. agricul...

Market Commentary

Overnight trade was lackluster, both in terms of volume and price action. Wheat and corn prices edged lower, while soybeans firmed slightly. Similar trends...

Oilseed Highlights

Environmental and wildlife groups have long been critical of palm oil as the cause of the widespread destruction of forests in Indonesia and Malaysia. Whil...

Market Commentary

The overnight session found corn and wheat trading both sides of yesterday's closes, while soybeans were mostly firmer. That is the way the day session ope...

Closing Futures Prices

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

Black Sea Regional Analysis

Prices grew everywhere on the Russian market with active buying and selling at the week's beginning, but business then practically came to a halt by its en...

Rationing; Abysmal; Land

The Union of Concerned Scientists (UCS) joins the club of foodies asserting that abundance and affordability are somehow evil concepts, which implies that...

Mercosur Regional Analysis

Traders may wish to note that the recent drop in CBOT prices is not attracting any additional selling of South American soybeans from the coming 2015/16 ca...

Middle East and Mediterranean Regional Analysis

Egypt has decided to allow 13.5 percent moisture in wheat tender offers for a period of twelve months at the request of France, which has had difficulty me...

Realignment; Outlook; Mouseprint

Pollsters say that Trump's disparagement of the Latino community has not broad-brushed other Republican candidates, but the rise of the anti-corporate welf...

Closing Futures Prices

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

Booming U.S. Feed Grain Supplies

2015 production of grain sorghums, barley and oats is expected to exceed domestic demand by more than 360 million bushels. This illustrates how important e...

Market Commentary

Any negative economic news about China sends shivers throughout markets around the world, and its PMI falling to a three-year low was no exception. General...

Consumer Reports Bashes Grain-Fed Beef

The Consumer Reports study was conducted by its Food Safety and Sustainability Center. It tested 300 samples from 458 pounds of ground beef from various pr...

Oilseed Highlights

The drop in soybean prices over the last year has obviously helped to boost global soybean demand. However, the increase in global consumption predicted fo...

Closing Futures Prices

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

China In-Country Analysis

China’s recent currency depreciation has raised the cost of imported soybeans and is one factor that has slowed domestic utilization rates. A second factor...

Market Commentary

Markets opened Sunday evening with little change. By morning, however, soybeans were showing double digit losses and corn and wheat were also lower. Genera...

Prioritizing; Non-replicable; Reform

U.S. organic production standards are emotive (not science) based and cheat the philosophy of “all natural” and still fall short of the yields achieved in...

Southeast Europe Regional Analysis

Considering the large carryover stocks in Russia at the start of this season, the combined exportable surplus in 2015/16 in Russia and Ukraine should be ab...

North Dakota Court Puts "Whoa" In WOTUS

There is now further confusion over the WOTUS rule, despite the fact that the EPA and the Army Corps of Engineers published a final rule defining the...

U.S. Net Farm Income Plunging

It’s no surprise. The longest bull market in history followed by the steep collapse in commodity prices has left farmers in the U.S. and around the w...

Closing Futures Prices

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

Market Commentary

It was a relatively calm day across most markets today following a very tumultuous week. Some news stories tied the small rally in the soy complex to the b...

Closing Futures Prices

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

Clinton Ag Policy Belies Campaign Strategy

While every major presidential candidate with the exception of Donald Trump has at least made a public statement on ethanol while campaigning in Iowa, form...

U.S. Corn & Soybean Exports Sales Pace Remains Very Slow

U.S. corn and soybean export sales are lagging far behind those of the past four years, which is a primary concern among bulls and bears alike, and there a...

Indian Subcontinent Regional Analysis

After the wheat import duty was introduced as a way to safeguard the interests of the Food Corporation of India (FCI), industry associations, particularly...

Food Rot; Taxes; WOTUS; Seeds

The law unanimously passed by the French Parliament requiring that supermarkets donate their food rather than destroy what is likely rotten has now be...

Market Commentary

The new crop soybean market, which would be most immediately affected by China, did manage to post a nice 14-16 cent rally today. Corn futures were higher...

China’s Grain Dilemma

Predictably, China is now reaping the same results that high-price support farm policies produced years earlier in the U.S. and EU. The Chinese government'...

Oilseed Highlights

Concerned there will be too little corn for livestock feed, the current Argentine government plans to offer farmers interest rate subsidies to maintain its...

U.S. and Canadian Cattle Inventory

USDA reported that the combined total of all cattle and calves in the United States and Canada on 1 July 2015 showed an increase from last year. However, e...

Closing Futures Prices

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

AGOA Slap; Ghanaian Ag

U.S. Trade Representative Michael Froman has reportedly warned his South African counterpart that at least part of that country's benefits under the Africa...

Weight Loss Plan; NLEA Fight II

Rural development initiatives tend to be like the latest weight loss plan – full of promise but yielding dubious results. Weight Loss Plan Democratic presi...

Closing Futures Prices

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

What Does the Bond Market Say About the U.S. Economy?

Comparing the nominal yields of five-year Treasury bonds with the real yields of five-year Treasury Inflation Protected Securities (TIPS) may be one of the...

Mercosur Regional Analysis

South America could potentially benefit from present conditions within the global soy complex as there seems to be a delayed beginning of the soybean harve...

Black Sea Regional Analysis

The Ukrainian Ministry of Agrarian Policy and Food indicated on 25 August that the country will export 36.83 MMT of grain in MY 2015/16 versus 34.8 MMT in...

Market Commentary

A stronger U.S. dollar, weaker crude oil, generally weaker world grain prices and chatter about the lack of world demand for grains and oilseeds all served...

The Uncertainties that Matter

How grain and soy markets react to their own set of uncertainties often ignores what financial markets may be doing.Uncertainty almost always leads to vola...

Transatlantic Divergence

German Agriculture Minister Christian Schmidt has served notice that his government intends to prohibit the use of GM crops otherwise approved by the Europ...

Middle East and Mediterranean Regional Analysis

Officials in Bangladesh have said that the country will import 950,000 MT of wheat in the 12-month period ending June 2016, a significant increase over the...

Market Commentary

Grain and soy futures markets had a relatively placid day, although they swung in relatively wide ranges. However, trading volumes were relatively light. G...

Closing Futures Prices

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

Market Commentary

World financial markets were getting decimated again when markets opened Sunday, and it was another day of risk off and "get me out" selling. However, that...

Bear Market Policies; Less Safe Food

Uncertainty roils many markets but not commodities where there is little hope for a rebound due to no visible path upward. Bear Market Policies Uncertainty...

China, China, China

There have been several important news stories from China in recent days, but the one that deserves more chatter suggests the country might be considering...

Agricultural Espionage

The idea of espionage over farm crops and food is novel to most consumers. However, the U.S. government has identified the sector as ripe for spying for ye...

China In-Country Analysis

China's average live pig prices had been moving steadily upward through July, but several macroeconomic factors have had an impact with the first reve...

Southeast Europe Regional Analysis

At the current export pace of about 3 MMT per month, Russia will dominate the wheat market until next spring.  However, two variables could prevent th...

Closing Futures Prices

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

Indian Subcontinent Regional Analysis

The two main foods in the Indian kitchen are onions and pulses,but their higher prices are upsetting the typical household budget. The increases are attrib...

Market Commentary

The world was selling everything today, including wheat, corn and soybeans. It was as close to a Black Friday as we could get in the financial markets. Tod...

Closing Futures Prices

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

Stats Canada‘s First 2015 Production Estimates

These estimates were basically all below the average trade guesses. The steep reductions in wheat and canola production were the result of the drought that...

Senate Ag Committee to Take Up Child Nutrition Bill

The Senate Agriculture Committee focused on flexibility with new rules at its May hearing on the bill, especially regarding the standards for whole grains...

Closing Futures Prices

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

Organic Backfire

Sales of foods labeled as "non-GMO" have apparently skyrocketed, much to the chagrin of organic food producers. Peggy Lowe of National Public Radio (NPR)...

Today’s Unexpected Price Action

Traders must strive to decipher whether today's unexpectedly bullish price action was an upward head fake in a further downward market or the "real McCoy"...

Market Commentary

Reaction to a technically oversold market and debate about the potential U.S. corn and soybean yields, spurred by the Pro Farmers annual Midwestern crop to...

China: Lower Yuan, Less Hogs; Ruble, Geopolitics and Pork

China's slowing economy and higer prices together with other factors are leading to slower consumer demand for pork and a decline in hog production. While...

Black Sea Regional Analysis

Although Russia's current grain harvest lags behind the results of a year ago, Deputy Minister of Agriculture Sergey Levin announced today that the current...

Mercosur Regional Analysis

There have recently been promises by Argentine political candidates to remove export taxes on all crops except soybeans. The one certainty is the country w...

Closing Futures Prices

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

Influence of Tight Margins

Farm policy and food manufacturer practices are evidence that the agrifood sector is a mature industry existing on tight margins. Farm policy and food man...

Market Commentary

There was an indication today that the stakes were being raised as traders with opposing long and short positions squared off in tug-of-war contests that t...

Market Commentary

Wheat has attractive prospects for 2016, but today's close of the December Chicago SRW contract back below the physiologically important level of $5.00 see...

Oilseed Highlights

USDA's foreast for global 2015/16 rapeseed production indicates a notable decline from last year's record 71.815 MMT. This has implications for many countr...

Closing Futures Prices

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

Economic Growth, the U.S. Dollar and Ag Trade

The federal government's revenues are outpacing its outlays compared with 2014. This and other positive economic factors have strengthened the U.S. dollar,...

Middle East and Mediterranean Regional Analysis

Turkey and Iran are said to be discussing the possibility of importing grain from Crimea as production there is reportedly up by about 23 percent over last...

Clean and Deceptive; Ethanol Attacks

Although some studies have asserted that fructose is worse for health than other sugars such as sucrose, none have the conclusive evidence built against pa...

China In-Country Analysis

Looking back at the data from the beginning of July, China's soymeal inventories have varied region-by-region and week-by-week due to fluctuations in feed...

Market Commentary

Corn and wheat futures were higher most of the overnight session, while the soy complex was lower. However, that pattern reversed itself today. General Com...

AGOA; Secret Necessity; Managing the Bear

The Government Accountability Office (GAO) has issued a report describing the conditions necessary for the U.S. to convert the recently reauthorized, ten-y...

Closing Futures Prices

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

Presidential Hopefuls and the RFS

Presidential candidates are hitting Iowa hard with one of the marquee events being the Iowa State Fair. That has led to a number of news items about their...

Uneventful Trade Until September Crop Report

Demand for U.S. corn and wheat isn't strong enough to change anything, at least not today, although  soybean demand could make a difference. The domes...

Southeast Europe Regional Analysis

The Black Sea market remains under pressure as demand is on an "as-needed basis" with buyers in the major destinations reluctant to cover their needs for f...

Closing Futures Prices

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

Weary of India; Overwrought

Although food and agriculture are not on the agenda of next month's U.S.-India Strategic and Commercial Dialogue, the way New Delhi has manhandled Europe's...

More Things to Keep You Up at Night

This week's bearish USDA reports will likely result in farmers doing all they can to store as much of their unsold 2015 production as possible. One problem...

A Look at the Yuan Devaluation

There is no doubt that China's move is bearish for commodities. Putting the devaluation in context, however, China has essentially pegged its currency to t...

Market Commentary

All markets were subject to a relative calmness today after a tumultuous week of bearish USDA reports and China's currency devaluations. Meanwhile, the bul...

Indian Subcontinent Regional Analysis

The government of India's (GOI's) decision to impose a 10 percent wheat import tariff is expected to enable the Food Corporation of India (FCI) to offload...

COOL Retaliation Delayed; Ractopamine Math

As all appeals regarding the WTO ruling against its country-of-origin labeling (COOL) law  have been exhausted, the  U.S. filed a brief disputing...

USDA Report Shakes Up Soy Sector

USDA's higher forecasts for U.S. soy yields and production noted in yesterday's report clearly sent shock waves through the market as they were much above...

Market Commentary

After yesterday's major market washout, some sort of recovery bounce was to be expected today, and that is exactly what the market provided. General Commen...

Water War; Contrasts in GMOs

Transparency and technology have combined to make policy making a more sophisticated battle over information. Nowhere is this better illustrated than in th...

Closing Futures Prices

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

Some Post-Report Thoughts

If there were a record of the margin by which pre-August report trade consensus estimates missed the NASS numbers up or down each year, yesterday's would p...

Wrong Solution; Surprising Critique

India has many problems, but two involve a surplus of sugar that the government may subsidize into the export market and a malnourishment rate of 40 percen...

Closing Futures Prices

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

Mercosur Regional Analysis

If present global pricing conditions remain for another six-nine months, financial constraints could force Argentine farmers to pull vast quantities of soy...

Black Sea Regional Analysis

Ukraine's milling wheat prices dropped under the pressure of lower prices on European markets and increasing offer. Most traders have also completed their...

Market Commentary

Just a quick glance at today's futures closes revealed corn down 19 cents, soybeans off more than 60 cents and wheat down 15 cents, which shows the tone of...

Devaluation Game; Tangled Sweetener Web

The U.S. sugar price is artificially held so high that the product is being smuggled across the border, and now it's politically-created distortions are th...

Oilseed Highlights

Because of the growth in its poultry sector and aquaculture industry, Turkey's consumption of soybeans and soymeal has been rising rapidly in recent years...

Closing Futures Prices

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

Market Commentary

Grain and soy futures were slammed like most other commodity markets and closed sharply lower. The reaction to the devaluation of the yuan masked the marke...

The Ides of August

While USDA's August corn and soybean yield and production estimates may be more solid than July's projections, they still may vary considerably up or down...

The U.S. Dollar, Chinese Yuan and Commodity Prices

While the International Monetary Fund (IMF) is considering adding the Chinese yuan to its basket of "reserve currencies," the world is experiencing an incr...

Middle East and Mediterranean Regional Analysis

Morocco's overall wheat and barley plantings are up by about 11 percent with production expected to increase by 69 percent compared with last year. Wheat i...

Closing Futures Prices

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

Ag Review: The Frontier Markets

Ranking the Frontier Markets By using indices measuring certain fundamentals for prospective market improvement, the five best countries are identified for...

Southeast Europe Regional Analysis

The heat wave persisting across France and central Europe as well as other regions has strongly affected corn crops and impacted the volume that the EU wil...

South Africa; China Subsidies; Science Deniers

The U.S. government is preparing its annual report to Congress on China's compliance with WTO obligations, and among the comments it is likely to receive f...

12 August USDA Report Could Be Significant

There are a number of reasons why USDA's numbers in its 12 August report may have a significant impact on prices.USDA will provide its first corn and soybe...

China In-Country Analysis

Rumors of state policy shifts are driving down China's domestic corn prices, which is affecting some processors' margins. However, the cornstarch and ethan...

Market Commentary

Buying in the soy complex accelerated at this morning's opening and eventually took soybean futures more than 30 higher. That strength eventually spilled o...

Scotland Moves to Ban GM Crops

The EU's opt-out measure adopted earlier this year, which allows member states or devolved administrations to restrict or ban GM organisms  despite EU...

Russia’s Food Wreck; Sugar for Dairy

The Obama administration has assured U.S. sugar producers that it will not undermine their domestic support program and in return asked that the industry s...

Closing Futures Prices

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

Indian Subcontinent Regional Analysis

Corn prices in India continue on an upward trend as both supplies and hope for good availability next season dwindle. Similarly, egg prices are also on the...

El Nino Getting Stronger

There have been several recent weather issues such as the drought in western Canada and the warm, dry finish to the season in Western Europe, but none have...

Market Commentary

Soybean futures exploded to near 20-cent gains on a warmer and drier weather forecast for the Corn Belt over the next 10-14 days. Wheat turned higher with...

Oilseed Highlights

As the world's two largest soybean-producing nations, the U.S. and Brazil compete aggressively to supply the world's demand. Both countries have excellent...

Closing Futures Prices

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

The U.S. Dollar Effect

Back when the U.S. was the major supplier of wheat, corn and soybeans in the world market, currency relationships had only a marginal impact on the volumes...

Market Commentary

Corn futures ended about 3 cents lower today under pressure from last week's relatively small export sales, further evidence that lower Brazilian offers as...

Pay the Piper; Senate Action

The U.S. Senate is having one of its most productive sessions in years and is spending its last week of session before the August break by rolling through...

Mercosur Regional Analysis

Brazil has the means to undercut current USG soybean prices. However, if the present selling opportunities are missed, South American merchandisers may nee...

Market Commentary

Recent estimates by various analytic firms seem uniform in predicting that USDA's yield estimates for corn and soybeans will drop by one amount or another...

Closing Futures Prices

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

Black Sea Regional Analysis

Ukraine's milling wheat prices were stable on the domestic market and at the UBS ports. They decreased, however, on the export market due to the increasing...

Sugar; COOL; WOTUS; Vietnam; Sunscreen

U.S. agriculture and other sectors have filed suit against the Obama administration's efforts to regulate the waters of the U.S. (WOTUS), and now environme...

Bipartisan Energy Bill Clears Senate Committee

The Energy Policy Modernization Act incorporates pieces of 114 different bills as well as addresses a few of the farm bill energy issues, exports of liquef...

Closing Futures Prices

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

Oilseed Highlights

While the record pace of Brazilian and Argentine soybean export sales in 2015 continues,  Korea's largest feed miller (Nonghyup Feed, Inc.) yesterday...

Video Conflict; Puerto Greece Example

President Barack Obama has suggested that the Republican-led Congress should pass a law easing Puerto Rico's ability to restructure its debt. However, ther...

Middle East and Mediterranean Regional Analysis

There continues to be a great deal of discussion regarding how Turkey can protect itself against the negative effects of the EU/U.S. Transatlantic Trade an...

Market Commentary

Today's trading of corn contracts was primarily preparation for USDA's 12 August reports. There is far less interest among traders in trying to trigger tec...

Low-Price Environment Getting More Headlines

We are now starting to see the headlines in the more traditional news arenas reflect concerns about the crash in profits across the agricultural spectrum.T...

TPP; Renewables; Dollar; Mind Shaping

Ministers supposedly wrapped up 98 percent of the negotiating topics for the Trans-Pacific Partnership (TPP), and optimists say they could meet again later...

Southeast Europe Regional Analysis

Russia's wheat exports were slower than expected in July at only 1.3 MMT. There seems to be one main reason for this trend, which is forcing exporters to t...

China In-Country Analysis

While China's total grain output has stabilized at 600 MMT per year, imports have continued to grow and exceeded 100 MMT last year for the first time in hi...

Closing Futures Prices

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

Market Commentary

The soy complex had a day of very wide trading ranges on good (not big) volume. Corn futures had a 6 cent trading range and closed in the middle, down 3-4...

Congress Leaves for August Recess with Business Unfinished

The House of Representatives has recessed for the traditional August break, while the Senate is in session for the remainder of this week before it too adj...

Closing Futures Prices

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

TPP; Concerns and Timing

Trans-Pacific Partnership (TPP) negotiators reached the end of the ministers' schedule time. They are down to just a handful of issues, and there are indic...

Indian Subcontinent Regional Analysis

India's sugar sector continues to suffer from low prices against the cost of production. Little change is expected unless the government of India (GOI) pro...

Market Commentary

Wheat futures tried to sustain a small rally today, but that effort didn't uncover enough buying to offset the weakness in soybeans and eventual weakness i...

Ethanol Export Outlook

Data from the U.S. Energy Information Administration (EIA) shows that ethanol exports to date have totaled more than 377 million gallons though May, while...

More Things to Keep You Up at Night

Record world soybean supplies, the apparent extended shipping of South American soybeans and pretty good U.S. weather have broken the soybean futures marke...

Market Commentary

After falling sharply from the wet weather highs, grain futures markets are quite oversold and due for a bounce, which is what they got today until wheat r...

Dodd-Frank After Five Years

It is the fifth anniversary of the Wall Street Reform and Consumer Protection Act, more commonly known as Dodd-Frank, and such sweeping legislation is cert...

Canadians Reject Voluntary COOL

The Canadian complaint about the U.S. voluntary COOL is that it still requires labeling based on where animals are born, raised and slaughtered. That neces...

Closing Futures Prices

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

Oilseed Highlights

Pakistan's soybean imports have substantially increased this year with USDA expecting that volume to more than double in 2015/16. The surge is being driven...

CFTC; GMO Wars

U.S. House Agriculture Committee Chairman Mike Conaway (R-Texas) has made clear that the Commodity Futures Trading Commission (CFTC) is not going to get th...

Food Politics; Militancy; Economics

French farmers reportedly blocked more than 400 trucks carrying perishable food products from Germany and Spain into France, complaining about the impact o...

Mercosur Regional Analysis

The stop-and-go release of corn export licenses, uncertainty about their distribution and falling CBOT corn futures contracts are combining to cause errati...

Market Commentary

Grain futures prices were under pressure during much of today's trading, while soybean prices traded on both sides before closing mixed with old crop Augus...

Closing Futures Prices

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

Black Sea Regional Analysis

The Hydrometeorological Center of Ukraine raised its 2015 grain estimate to 60.5 MMT, which includes 25.3 MMT of corn. Meanwhile, sunflower seed production...

Middle East and Mediterranean Regional Analysis

Egypt's GASC is reviewing its current position with regard to French wheat moisture levels. It stipulates a maximum level of 13 percent but has allowed Fre...

Investors, Speculators and Whiplash

Whether one considers them to be investors or speculators, managed funds have collectively taken a real beating in the grain and soy markets during the las...

Ethanol War; Ex-Im Highway

When all sides in a regulatory matter are upset, it means the agency in charge has either found the only middle ground available or has failed altogether t...

Chinese Soy Milk

Most of the soy milk consumed in China is obtained from street vendors. White Wave Foods will be entering the market in a joint venture effort to convert t...

Market Commentary

"Turnaround Tuesday" may have become sort of a cliché, but it is true more often than not that Tuesday's grain and soy futures market prices move in the op...

Closing Futures Prices

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

Closing Futures Prices

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

Market Commentary

Grain and oilseed markets gapped lower Sunday evening, and those losses accelerated throughout today's session before markets closed. The 8 percent drop in...

China In-Country Analysis

China's domestic corn prices saw modest improvement last week. The slight rise has been largely driven by a recent supply shortage in the north, which has...

Southeast Europe Regional Analysis

The corn market in the Black Sea is under heavy pressure due to the strong competition from Brazil and Argentina. The price for new crop (October/November)...

The China Syndrome

It's difficult to not worry about demand for agricultural commodities when concerned about China's economy. The country has accounted for 65 percent of the...

Technology; Meaningfulness; Balance

U.S. President Barack Obama's decision to upgrade Malaysia's status as a Tier 2 level trafficker in human beings enables that country to continue its aspir...

California Dairy Gets Higher Milk Price: Still Seeks FMMO

The reason for the California FMMO petition is to adjust the price of milk that goes to cheese. The state system uses two calculations for pricing nonfat s...

Oilseed Highlights

Industry predictions of a decline in EU rapeseed production are being confirmed by sharply lower yields in Germany. Farmers there are harvesting at least 2...

2015 Crop Comparison

At a meeting of farmers this week in southeastern North Dakota, which was sponsored by the regional Farm Business Management group from the local college,...

Closing Futures Prices

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

Market Commentary

Fund selling continued overnight and today, which pushed corn, soybean and wheat futures sharply lower and at/or below key technical support. There were se...

Chilean Food Label Law and the U.S. Junk Food Warning Idea

A new food label law in Chile requires that packaged foods high in calories, saturated fat, refined sugars or sodium bear stop sign-shaped warning notices...

Senate Action; ROW Subsidy; No Warnings

Congressional Democrats are reportedly pressuring the Obama administration to deny the domestic pharmaceutical industry's ambition of acquiring longer pate...

Indian Subcontinent Regional Analysis

Indian wheat prices continue to move upward in the midst of high quality (high protein) imports from Australia. There is a demand from the Food Corporation...

Bird Flu Recovery, Restocking and Prevention

Egg-layer farms are getting ready to restock now after the highly pathogenic avian influenza (HPAI) strain that broke out in Iowa this past April. However,...

GMO Labeling; Carbon Caps; Rural Development

The U.S. House passed (275-150) the Safe and Accurate Food Labeling Act of 2015, which would preempt states from imposing mandatory labeling of GM foods. H...

Closing Futures Prices

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

Market Commentary

Soy futures were under pressure throughout the day session with soymeal giving up its heretofore bullish posture. Meanwhile, wheat futures finally closed h...

It’s Either Too Hot or Too Cold

For the last decade, the general public has been bombarded with innumerable dire warnings about the current and future impact of global warming, and the po...

Mercosur Regional Analysis

One potential reason for the slowing interest in the Argentine soybean market is assumed to be a carry that had developed in local prices. This carry is no...

Black Sea Regional Analysis

Russia has exported 434,000 MT of grain as of 15 July 2015 and from the beginning of MY 2015/16, a 56.9 percent decrease compared with the same period in t...

Market Commentary

Grain and soy prices have been slowly eroding again because of several factors. Noncommercials that piled into long positions during early July's rally hav...

Closing Futures Prices

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

Closing Futures Prices

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

RIN Market Turnover

In an effort to provide more transparency to the market, the U.S EPA published data this month on Renewable Identification Number (RIN) ownership under the...

Market Commentary

With a generally benign weather outlook, the corn and soy markets had little to trade on today, and the light volume reflected that. Meanwhile, wheat conti...

Oilseed Highlights

Chinese government data indicates the country imported 8.09 MMT of soybeans in June, primarily from Brazil and Argentina. Trade sources indicate an additio...

Middle East and Mediterranean Regional Analysis

Wheat importers in Sudan, Yemen and Madagascar may find that they will be able to purchase low-cost stocks from Pakistan. The government there is said to b...

Biodiesel Production Credit; GMO Labeling Preempt

Legislation (H.R. 1599) that would preempt state-level GMO labeling laws, amongst other things, has attracted efforts to amend the bill when it comes to th...

What about Demand?

Ultimately, demand is just as important a market factor as supply, but it is often more difficult to quantify with its ever-changing array of variables.In...

Implications of the Low Price Environment

All segments of agriculture have been hugely profitable during this six-seven year bull market, but there are potentially negative consequences for many go...

China In-Country Analysis

U.S. DDGS exports to China surpassed 860,000 MT in May, a 48 percent increase over the same month a year ago. Although the June figures are not yet av...

Southeast Europe Regional Analysis

Romania usually exports a very limited volume of feed wheat as the average protein level is above 11.5 percent  and gluten is usually above 25 percent...

Organic Hypocrisy; Greek “Reforms”

The distortions and obfuscations that define the organic food industry were well illustrated by a recent presentation in Washington by a representative of...

Market Commentary

Funds continued to shrink their long positions in all markets as the technical picture has turned bearish over the past several days of market action. ...

Closing Futures Prices

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

Greece and the Long-Term Outlook of the Euro

The steps back to normalcy in Greece have had a short-term impact on southern Europe. With yields falling today on Portuguese, Spanish and Italian governme...

Closing Futures Prices

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

More Things to Keep You Up at Night

The corn/soybean yield debates continue, and there are big swings in the various yield and acreage estimates. USDA will include its special acreage survey...

Market Commentary

Wheat has few friends on a good day, so it didn't have much of a chance to trade higher when corn and soybeans were both weak, which was the situation toda...

Indian Subcontinent Regional Analysis

The Food Safety and Standards Authority of India's (FSSAI's) draft order that would potentially ban the use of meat cum bone meal (MBM) in animal feeds is...

Iran Deal’s Impact on Oil Markets

The commodity interest in this deal pertains to the potential impact that the lifting of sanctions might have on global oil markets. Provided the agreement...

Food Politics; Media Error; Bullishhh

U.S. Senate appropriators have decided they know best how to safeguard public safety and health in the food sphere, as evidenced by the USDA and FDA 2016 f...

Closing Futures Prices

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

Chicken Expansion

While U.S. broiler production is forecast to grow in 2015 and 2016, two remaining unknowns are next year's corn and soymeal prices as well as what might oc...

Market Commentary

The overnight session produced higher corn and soy prices, while wheat traded lower. However, funds returned as buyers early in the day session, which prop...

The Competition Game

While world trade in wheat, corn and soybeans was dominated by the U.S. for many years and into the 21st century, the global push for agricultural producti...

Single Agency; TPP and Canada; Tax Extenders

Proponents hope to move a bill in the U.S. Congress that extends 52 tax credits that are under a philosophical attack by opponents who deem them to be corp...

Oilseed Highlights

The U.S. soybean industry was a strong supporter of the U.S.–Colombia Free Trade Agreement (FTA) when it was being considered by Congress in 2011. It belie...

Mercosur Regional Analysis

Today's weak price action in the soy complex is party reflective of the effort by Argentina's soybean exporters to go head-to-head against their U.S. count...

Closing Futures Prices

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

Black Sea Regional Analysis

The Ukrainian grain markets saw an increase in both domestic and export prices for feed barley, corn and several types of wheat. Contributing factors were...

Market Commentary

Grain and soy futures traded mostly lower overnight in average volume. Corn's technical reversal yesterday set a negative tone along with weather forecasts...

Iranian Market; Selective Science

USDA Secretary Tom Vilsack justifiably criticized the U.S. beef industry today for hypocrisy in regards to efforts by some industry groups to stall a USDA...

Near-Term Price Projections

Because of current conditons, both Kansas City and Chicago wheat contracts will take price directions from corn contracts for a while longer as it is prese...

Middle East and Mediterranean Regional Analysis

Egypt' recent rate of population growth, 22.3 percent between 2006 and 2015, could mean a total of 100 million or more in less than five years. This will h...

Market Commentary

Markets seemed to have taken a cold shower in the interim between the overnight and the day sessions as a much different attitude seemed to prevail today...

Topics Not Involving Crop Prospects

Whether or not the Food and Drug Administration (FDA), which considers GM foods to be safe, should require that foods containing GM ingredients or made fro...

Transatlantic GMO; Research; Comparative Advantage

Proponents of increased publicly-funded agricultural research are demanding that the Congress better study the issue, warning that funding is stalled at th...

Senate Ag Appropriations

The Senate bill was passed in subcommittee by voice vote with no amendments and will be taken up by the full Senate Appropriations Committee on 16 July. It...

Oilseed Highlights

The market has been very focused on China as the driver of global soybean and soymeal demand for good reason. However, there are other populous countries d...

Closing Futures Prices

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

China In-Country Analysis

OilseedsSmall Decline in Soymeal InventoriesAfter nearly a month of steady increases, the estimated soymeal inventories of major crushers fell last week to...

A Potentially Explosive Soybean Market

The July WASDE released Friday cut U.S. 2014/15 soybean ending supplies all the way down to 255 million bushels and estimated that 2015/16 U.S. soybean end...

TPP Momentum; Sweet Solution

After spending several days in Tokyo, Acting Deputy U.S. Trade Representative Wendy Cutler indicated confidence that she and her Japanese counterpart are o...

Southeast Europe Regional Analysis

Although both Romania and Bulgaria planted about 10 percent less wheat this past fall because of the excessive rains, the crops may be very similar to last...

Market Commentary

Corn's trading pattern today was almost the same as the soybean market with early weakness and a gradual increase in fund buying. Meanwhile, wheat struggle...

Appropriations Bills Going Nowhere

The Republican-controlled Congress has been pursuing appropriations bills based on the sequester targets, which the White House has promised to veto. All o...

Closing Futures Prices

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

China In-Country Analysis

As market pessimism mounts in China, last week's average domestic corn price fell. A survey with traders, though, indicated that cornstarch prices did rise...

“Free Trade” that Changes Nothing

Canadian Trade Minister Ed Fast says he sees no reason his country needs to change its supply management systems for dairy and poultry in the Trans-Pacific...

Market Commentary

The corn numbers were the most supportive today, while soybean futures rallied to as much as 20 cents higher following the WASDE release before dipping to...

Indian Subcontinent Regional Analysis

With greater demand for pulses anticipated in the coming months and a lower-than-normal monsoon projection, the government of India (GOI)  has already...

Closing Futures Prices

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

Snack Attack

The recent report from Mintel indicates notable changes in the snacking habits of Americans from just a year ago. The big driver of the modern snack renais...

Very Mixed USDA July Reports

While some thought USDA might adjust U.S. corn and soybean yields because of the wet conditions across the eastern Corn Belt, that type of revision would h...

Market Commentary

Today's rally in soybeans and corn came as a result of the confluence of several factors. There was the Chinese market recovery, more heavy rain in the eas...

Risky Business

Recognizing risks and adequately managing them is a key function in the operation of any commercial activity, and it is especially so for agribusiness.The...

Red Meat Exports Down in May

According to the U.S. Meat Export Federation (USMEF), the country's beef exports dropped in May by 14 percent in volume and 6 percent in value compared wit...

GMOs; Doha; Climate Change; Economy

While Europe throws up barriers to GMOs, including imposing an approval process that takes twice as long on average as the U.S. regulatory path, Canada is...

Oilseed Highlights

Brazil's soybean processors should be enjoying excellent crush margins after the country harvested a record-high crop, but a combination of rising soybean...

Closing Futures Prices

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

Mercosur Regional Analysis

The recent selling of Argentine soybeans for October and November at this time of year is unusual. A point of consideration is that if the sales volume doe...

TTIP; GMOs; Horses

An EU Commission meeting next week is expected to hear widespread opposition to its proposal to allow individual member states to opt out of food and feed...

Market Commentary

Although traders are still nervous about possible fallout from the Greek situation, the greater potential for commodity market impact comes from China wher...

Ag Review: Sustainability and Agriculture

Defining Sustainability Activists, ecologists and economists have all battled over the concept of sustainability, though no one doubts it is an infinite dy...

Closing Futures Prices

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

Black Sea Regional Analysis

Russia's new marketing season started 1 July, but there was no traditional decrease of prices as the new harvest grain entered the market. Instead, prices...

Outside Influences

It becomes difficult to separate grain and soy market fundamentals from all of the current outside influences. Some of those such as the U.S. dollar and th...

Middle East and Mediterranean Regional Analysis

Turkey's soybean imports have increased by about 30 percent over the past three or four years and are expected to rise by another 200,000 MT in 2015/16. In...

Oilseed Highlights

India's declining soybean production and rising consumption have resulted in a steady growth of its vegoil imports in recent years, which Oil World has est...

Market Commentary

The overnight price weakness carried over into the day session with the strong U.S. dollar and China's weakening economy keeping prices under pressure. Gen...

Subsidies; Government; China; 483

Legislation has again been introduced in the U.S. Senate to consolidate food safety enforcement in the U.S., although the bill isn't moving anytime soon. C...

Closing Futures Prices

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

Market Commentary

Agricultural markets followed the financial and energy markets lower overnight and early today, but we started to see some significant separation once toda...

China In-Country Analysis

As the estimated soymeal inventories for China's major crushers showed a notable gain last week, the uptick in soybean shipment arrivals and higher utiliza...

Greece; GMO Regs; Trade Negotiations; Aussie Ag

The worst part about the current situation with Greece is uncertainty, but things are not that bleak or uncertain. Greece Known Knowns The worst part about...

Congressional Schedule: 28 Legislative Days Until New Fiscal Year

With no appropriations bills completed, Congress will be back in session tomorrow with 16 legislative days before the month-long August recess. It will the...

Southeast Europe Regional Analysis

The Black Sea market was active last week as a significant volume of Russian wheat changed hands. A majority of the trades were between multinational tradi...

Closing Futures Prices

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

Corn Supply/Demand Tightening

The very wet conditions across the eastern Corn Belt have caused other problems in addition to lost acres. Corn is or has been standing in water in many ar...

A Tumultuous Week

USDA's 30 June numbers were mildly bullish for corn and soybeans, and the persistent heavy rainfall over southern and eastern portions of the Midwest has p...

Closing Futures Prices

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

Market Commentary

Prices swung in wide ranges on both sides before finishing with relatively small changes. Drawn by the rather dramatic change of market momentum this week,...

FoE Half Right; Meaning/ful

A survey by the Pew Research Center on American opinions toward GMOs and pesticides indicates that if Big Ag was ever in the fight against its antagonists,...

FoE Half Right; Meaning/ful

A survey by the Pew Research Center on American opinions toward GMOs and pesticides indicates that if Big Ag was ever in the fight against its antagonists,...

Hogs and Pigs Report; JBS to Buy Cargill Pork

The USDA Quarterly Hogs and Pigs Report released last Friday indicates the market hog inventory is up 9.4 percent, but that isn't a reliable benchmark due...

Oilseed Highlights

Most in the trade appear to have concluded that the lower soybean stocks noted in USDA's report on Tuesday indicate that it  overestimated the size of...

Black Sea Regional Analysis

While the Ukrainian grain markets saw mostly stable domestic prices during 22-26 June 2015, feed wheat prices at the Ukrainian Black Sea (UBS) ports contin...

Closing Futures Prices

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

Mercosur Regional Analysis

Brazil and Argentina took advantage of this week's rise in CBOT contract prices. In comparison, U.S. soybeans are so expensive that there is even talk of s...

Bias; Preemption; Doldrums

A federal judge has just ruled that a county ban in Hawaii against the cultivation of GM crops is preempted by federal and state law. Such federal assertio...

Market Commentary

The CME announced that trading volume in its agricultural products set a record of about 2.857 million contracts yesterday. The day session today did not r...

Market Commentary

Following the release of today's USDA reports, there was a huge inflow of managed money into the grain and soy markets seeking to buy everything across the...

Middle East and Mediterranean Regional Analysis

The Egyptian government announced that it plans to update/repair all port discharge equipment. This is intended to significantly reduce the unloading time...

Drill It and They Will Build

Increased refinery runs, based on growth in both capacity and utilization, have helped accommodate gains in U.S. crude oil production. That production aver...

USDA’s Acreage and Quarterly Stocks Reports

These reports contained a few of the usual June surprises, mainly in the quarterly stocks numbers, and the grain and soy futures markets continued their hi...

Closing Futures Prices

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

Oilseed Highlights

Today's USDA planted area report indicated U.S. farmers planted or intend to plant 85.139 million acres of soybeans, a greater number than USDA's Prospecti...

Millennials; Organic Marketing

Greece is teetering on a Grexit, Puerto Rico officially acknowledged that it lacks the funds to pay its creditors, the Middle East remains on fire and Chin...

Southeast Europe Regional Analysis

The EU's barley exports licenses for the current campaign total 3.3 MMT more than a year ago, which more or less corresponds to the increase in its imports...

Market Commentary

Trading volume today was quite large with funds again very big players as the short covering in wheat and corn continued. Commercials were reported as heav...

Greece; Cost: Benefit; Brazil Ethanol Tax

As lawsuits get filed against U.S. EPA's recent rule restricting agricultural (and other) impacts on waterways, some are hoping a separate ruling today by...

Closing Futures Prices

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

USDA Acreage Numbers Will Be Important

These acreage estimates for corn and soybeans have also taken on more importance because we are starting to see some doubt expressed over the latest USDA y...

China In-Country Analysis

China's domestic corn prices fell last week because of sluggish demand from the deep corn processing industry. Meanwhile, the average cornstarch price did...

Indian Subcontinent Regional Analysis

While the Food Safety and Standards Authority of India (FSSAI) is adopting more stringent rules and procedures for domestic products, it is changing its me...

Closing Futures Prices

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

U.S. Winter Wheat Crop Has Problems

This has been a terrible harvest season for the U.S. hard red winter wheat crop with no end to the rain after three-four years of drought. The crop was mat...

Reorganization and Budget

The current budget situation is only partially the result of the Republicans now controlling both houses of Congress. The White House says that the automat...

Market Commentary

Price action closed out this week in a dramatic manner that accurately reflects the increased uncertainty among a diverse group of traders. The greatest ch...

Farmland Values

This is the second year of what could be a multi-year correction in farmland prices due to lower commodity prices, increasing interest rates and slower inv...

Author Calls Dietary Guidelines Unconscionable

Nina Teicholz, author of New York Times bestseller The Big Fat Surprise, asserts that the bias against meat had its origins in a 1961 report from the Ameri...

Big Week; Sugar; RFS

An orchestrated effort to change the supply management approach to the U.S. sugar market has been on hiatus for at least a decade, but that is about to cha...

Closing Futures Prices

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

Oilseed Highlights

While it is still relatively early in the growing season, there is increasing concern about the impact heavy rains will have on key soybean-growing states...

The Potential Surprise of USDA’s 1 June Quarterly Stocks Reports

With all of the focus directed to the release of USDA's planted acreage estimates next Tuesday, the 1 June quarterly stocks reports, which will also be iss...

Market Commentary

Traders lured into short positions in the market by visions of another year of big crops on top of large carryout volumes decided they could no longer bear...

Market Commentary

Today's up-and-down price action in grain and soy futures markets is typical market fare leading up to key USDA reports, which in this case are the 30 June...

Closing Futures Prices

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

Black Sea Regional Analysis

Prices continued decreasing in the European part of the Russian grain market. This was especially true for barley and wheat, although the causes were somew...

Prognosis; Implications; Bipartisanship; Taste

The American approval of TPA shifts the international focus to the Trans-Pacific Partnership (TPP), but what are the implications of the former on the latt...

Mercosur Regional Analysis

Argentine market participants are buoyed by the expectation that the U.S. will be unable to fully meet growing Chinese sorghum demand. While there are othe...

Market Vibrations

Market prices were driven steadily lower for much of the last six months, largely by the abundance of U.S. and world supplies of grains and soybeans. Never...

Market Commentary

The 30 June reports on acreage and quarterly stocks are already affecting grain and soy markets a week in advance. The apparent decline in crop conditions...

Closing Futures Prices

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

Middle East and Mediterranean Regional Analysis

The Iranian government forecasts wheat imports will drop to 2 MMT this year as it plans to purchase as much as 7.7 MMT of the expected 11 MMT in domestic p...

USDA Issues Report on Cuba Potential

USDA's Economic Research Service has released a report that discusses the potential to foster additional growth in U.S.-Cuba agricultural trade and the pos...

Oilseed Highlights

In order to supply European firms seeking non-biotech soybeans and soymeal, the German farming company KTG Agrar AG has sharply increased its plantings of...

Supreme Court Rules Against Raisin Marketing Order

Today's Supreme Court ruling against the federal raisin marketing order sets a precedent for many other such orders for specialty crops as well as for milk...

Closing Futures Prices

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

Brazilian Subsidies; False and Clever Choices; China

Brazil may reportedly challenge America's Agriculture Risk Coverage (ARC) program that is in the 2014 Farm Bill. However, there are at least two reasons wh...

China In-Country Analysis

Several mid- and long-term fundamental trends in China have contributed to declining pig stocks in May compared with the previous month and the same period...

Market Commentary

Corn again struggled to follow the strong rallies in wheat and soybeans today. The trade apparently believes the wet conditions haven't affected corn acres...

Southeast Europe Regional Analysis

Strategie Grains, the French analytic firm, is forecasting that the EU 2015/16 wheat balance will be heavier than the current campaign for two primary reas...

Crop Ratings – A Life of Their Own

While the majority of market participants seem to know that crop conditions are rather subjective and statistically insignificant in relation to the final...

Closing Futures Prices

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

The Acreage Discussion Picks up Some Steam

The discussion now centers on how many total acres of corn and soybeans were planted or will still get planted as well as how the mix between both crops ha...

Indian Subcontinent Regional Analysis

With the current threat of El Nino, which could curb monsoon rains and negatively impact India's agriculture, GOI is taking steps to move farmers away from...

Market Commentary

Soybeans were weak early in the session, but light fund buying brought prices back to unchanged before noon. It was a big week for soybeans as they traded...

Oilseed Highlights

Reports out of China indicate the government has decided to end its program of purchasing and storing rapeseed and rapeseed oil as a means to support farme...

House Subcommittee Passes Ag Appropriations

The overall spending for discretionary programs and mandatory nutrition programs totaled $143.9 billion, which is $3.2 billion less than the president's bu...

Market Commentary

After three days of higher futures prices, mainly as a result of noncommercial short covering, grain and soy futures markets seemed due for a breather toda...

TPA/TAA Machinations; the Pope; Cotton Speculation

Pope Francis, whose upbringing was in the anti-elite populism of Argentina, now resides over perhaps the wealthiest institution on earth. Yet, he continues...

Market Cycles

It is the cyclical nature of freely-traded futures markets that attracts traders and trading volume. If futures prices did not move up and down, there woul...

Closing Futures Prices

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

COOL Retaliation Turns to Arbitration

The U.S. has notified the WTO that it will seek arbitration over its mandatory country-of-origin labeling (COOL) statute and the latest ruling against...

Black Sea Regional Analysis

With favorable weather conditions reported for Russia's spring and winter crop development, Rusagrotrans, the nation's largest grain transportation provide...

Closing Futures Prices

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

Market Commentary

Grains and the soy complex were trading factors other than interest rates today. Weather and technical considerations once again dominated grain markets, b...

TPA; RFS; Organic; Welfare; Economy

Legislation has been introduced in the U.S. Congress to eliminate the Renewable Fuel Standard (RFS), but it has no chance at enactment. However, more notab...

Mercosur Regional Analysis

Argentine soybeans are being offered at around 30 SN for July and August, but demand has disappeared because Chinese buyers seem to believe that there will...

Refreshing the View

The most specific, direct influences for grain and soy markets appear to be USDA's various reports and weather, but the fundamental message we see is that...

Currencies; Pope Omissions; Miscellany

While it is believed that Havana will soon end its dual currency system, there is a suggestion that Greece emerge out of its debt crisis by instead adoptin...

Oilseed Highlights

Although soymeal imports for Australia and New Zealand have rapidly increased since 2000/01, the interesting change has occurred in both countries' preferr...

Middle East and Mediterranean Regional Analysis

Pakistan has announced its intention to raise the soymeal import tariff from 11 to 21 percent as of 1 July, which is expected to boost its soybean imports...

Fed Decision on Interest Rates Tomorrow

The debate in monetary policy for most of the year has regarded when the Federal Reserve will increase interest rates for the first time in nine years. The...

Market Commentary

Corn was pulled higher by the strength of soybeans. However, wheat markets shrugged off lower winter wheat crop ratings and prospects for more rain to clos...

Closing Futures Prices

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

Southeast Europe Regional Analysis

Since the Russian government lifted the export tax on wheat approximately one month ago, there has been no real pressure on old crop prices. Instead, old c...

Market Commentary

Corn struggled under the pressure from the wheat market plus thoughts that the corn crop ratings might improve in today’s weekly report. The trade seems un...

TPA Angst; WOTUS Lobbying; Unscientific Scientist

Reversing Friday's defeat of Trade Adjustment Assistance (TAA) by legislators will require more than just a few days of lobbying and a change in the legisl...

Closing Futures Prices

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

China In-Country Analysis

Since early March 2015, the average soymeal price has been on a constant downward slide. We expect this trend to continue, as demand from downstream users...

Low Prices and Large Old Crop Supplies Causing Farmer Angst

Farmers now face a predicament they haven’t faced since the bull market started nearly 10 years ago: they are carrying large old crop supplies and have sol...

Trade Victory for U.S. Chickens in South Africa

U.S. chicken products have been blocked from South Africa since 2000 – the same year that the United States passed the African Growth and Opportunity Act (...

China In-Country Analysis

Since early March 2015, the average soymeal price has been on a constant downward slide. We expect this trend to continue, as demand from downstream users...

WOTUS Rule Backlash

Yesterday the American Farm Bureau Federation (AFBF) issued a fact-check document rebutting the agency's "Fact Sheet" on the final rule, which also provide...

Market Commentary

It was a reverse crush day in the soy complex with soybean futures slightly lower most of the morning and meal and oil futures a bit higher. That pattern c...

Closing Futures Prices

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

Indian Subcontinent Regional Analysis

With exports at a standstill and with only domestic buyers, sugar prices in India have crashed and are likely to remain so in 2015/16 as oversupply has had...

TPA’s Chance; Regressive West; Private Standards

President Obama  will get another chance at House passage of the Trade Adjustment Assistance (TAA) bill, but it will require successful maneuvering of...

Oilseed Highlights

In January, the U.S. EPA approved the importation of Argentine soy-based biodiesel under a streamlined procedure, and now Argentina's shipping agency Nabsa...

Control of Production, Consumption; WOTUS; COOL

With nearly a billion people, many knowing hunger firsthand, Indian Prime Minister Narendra Modi has asked a new economic think tank called Niti Aayog to p...

Market Commentary

The soy complex picked up speed in downward momentum today, and wheat contracts also had sizable selloffs. The decline in corn slowed, however, presumably...

Closing Futures Prices

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

COOL Repeal

The U.S. House of Representatives passed a bill last night to repeal the country-of-origin labeling (COOL) requirements for beef, pork and poultry. The nex...

Trade Promotion

The eventual growth and dominance of domestic producers within nations is generally the reason that governments are eventually incentivized to build up pro...

Closing Futures Prices

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

Market Commentary

USDA did not  anticipate any change in the average corn farm price because of a minor adjustment in this season's ending stocks, detailed in the June...

Black Sea Regional Analysis

The Russian Ministry of Agriculture announced that 29.065 MMT of grain were exported as of 3 June 2015 and from the beginning of MY 2014/15, a 17.7 percent...

GMO Opt-Out Trouble; TPA Vote; Precaution Fix

There has been plenty of analysis detailing how neither Washington nor Brussels has a monopoly on the imposition of precaution in product risk assessments...

Middle East and Mediterranean Regional Analysis

There have been comments in Egypt that lower-priced, imported wheat is being sold to the government as domestic stock because of its high purchase price. G...

Busy Day For Ag Issues: CFTC, MPR, Grain Standards

Several ag-related bills have been brought to the House floor under a suspension of the rules, which is a parliamentary procedure to expedite the considera...

El Nino’s Influence and 2015/16 Grain Prices

The current El Nino will affect more than just U.S. grain and oilseed production, and those other developments can influence world market perspectives, whi...

Trade Opponent Thinking; Leadership; Bleach

G7 leaders meeting in Germany this week boldly pledged to end hunger for 500 million people by 2030. Given the fact that the number of malnourished has bee...

Closing Futures Prices

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

Oilseed Highlights

A combination of declining global prices for soybeans and soymeal together with China's corn price supports has resulted in soymeal and corn now trading in...

Market Commentary

Indecision was the uniform message conveyed today by the charts of corn, wheat and soy complex futures contracts. The wheat market is also a promising bull...

Closing Futures Prices

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

Southeast Europe Regional Analysis

The EU has now allocated 777,000 MT of the available 950,000 MT duty-free import licenses for Ukrainian wheat. Once the duty-free quota has been completed,...

Market Commentary

The soybean market had another fairly volatile session today. There is still some concern about soybean planting progress because of the wet weather across...

Cynicism; Precaution; Fantasy Agriculture

As happens often, government may have the best of intentions but uses a tin ear when gauging public interest and action. Farmer Eat Farmer World As happen...

China In-Country Analysis

The imported corn reserve auction sales are currently expected to reach only 10 MMT through September. Because of the large national corn inventory, this w...

USDA Report Preview

USDA will revise winter wheat yields and, perhaps, harvested acres.Some downward adjustments in the world wheat crop are also possible with a great deal of...

More Things to Keep You Up at Night

Despite shuttle rail freight values that are now $200-400 per car UNDER tariff through September, there is no demand. Farmers are unhappy with both old cro...

Much Ado – CFTC; Grexit versus Brexit; Ag-Gag Gag

The Greeks appear to have lost any semblance of sympathy from key European countries negotiating its rescue out of bankruptcy. Meanwhile, Swedish business...

Indian Subcontinent Regional Analysis

The market yard corn price in Bihar has been declining after the recent harvest there. Demand has also been low from the poultry sector as a result of the...

Ag Review: Agriculture's Bear Market

Unsustainable Bears At least seven factors in the modern era prevent agriculture from falling to the historic construct of a long-term bear market followin...

Closing Futures Prices

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

Market Commentary

Markets surged to big gains in corn, wheat and soybeans in the first two hours of today's trade but couldn't hold above technical resistance, and the selli...

House Ag Committee Looks at Global Farm Subsidies

The scope of agricultural subsidies is large and comes in many forms. According to the OECD, the estimated support to farmers was about $492 billion global...

Oilseed Highlights

Following China's approval of the Syngenta corn event last December, U.S. DDGS imports to that country have resumed steadily. However, some in the trade fe...

Strange Views on Trade

In the past, the goal of increasing trade, especially agricultural trade, enjoyed nearly unanimous bipartisan support. Thus, the current debate raging over...

Market Commentary

It is hard to put a finger on what sponsored the stronger grain and soy markets. The rally was not widespread across other commodity markets. Last week's e...

ExIm versus MAP; Natural Booze

The Export Import Bank of the U.S. (ExIm) is set to expire at the end of the month, which has spawned a brawl between Boeing and U.S.-based airlines over t...

Pork Producers and Meat Institute React to White House Statement

The head of the NPCC expressed disappointment with a recent administration statement regarding federal and White House procurement of hormone- and antibiot...

Closing Futures Prices

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

Closing Futures Prices

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

Black Sea Regional Analysis

Ukroliyaprom, the Ukrainian oil industry association, has forecast the country's MY 2015/16 oilseed harvest at 17.195 MMT, a 6.3 percent increase compared...

Mercosur Regional Analysis

An important point to consider is that the future of Argentine wheat production will be influenced by the ability of soybean and corn exports to put some r...

Trade Offensive; Climate Democracy; Poor Ag

Most of the public discussion about TPA and pending trade negotiations has focused on negative issues. However, the USTR is trying to create a more balance...

Market Commentary

The U.S. dollar's up-and-down indecisiveness was mirrored by grain and soy futures as well as other commodity markets. All of the grain and soy complex con...

Oilseed Highlights

The government of Brazil today proposed raising the agriculture sector budget by 20 percent. Considering that it is cutting expenditures elsewhere, this wa...

A “What If” Scenario for U.S. Corn

Even though USDA has estimated that 2015/16 ending corn stocks will be lower than what is predicted for 2014/15, not much imagination is required to envisi...

More Complete Analysis

A news report cites a survey of 4,200 U.S. consumers by a group called CivicScience that found far more concern about preservatives and chemicals in food t...

Closing Futures Prices

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

Market Commentary

U.S. grain and soy futures markets, particularly Chicago wheat futures, are as sensitive to changing U.S. dollar values as other commodity markets and more...

Middle East and Mediterranean Regional Analysis

The barter arrangements between Russia and Iran are said to have been finalized to some degree as it is reported that the latter will export poultry meat i...

New Feed Rule Part of White House Summit on Antibiotics

Today's White House Forum on Antibiotic Stewardship included the president signing a memorandum directing federal departments and agencies to create a five...

Southeast Europe Regional Analysis

Russia announced a new wheat export tax that begins 1 July, which is related to the USD/ruble exchange rate and is intended to help the government with a s...

Closing Futures Prices

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

TPA – and the Ayes Have It

The effort by organized labor against TPA is unprecedented, and the inclination is to bet against the bill passing except that it has such horrible implica...

Weather Pushes Wheat and Canola

While weather made a return visit to the wheat market this morning, very preliminary estimates indicate that another weekend frost/freeze across southern M...

Blender Pump Brouhaha

As U.S. EPA issued its proposed Required Volume Obligations (RVOs) under the Renewable Fuel Standard (RFS) last Friday, USDA Secretary Tom Vilsack also rel...

China In-Country Analysis

The combined effects of sluggish demand from downstream users and the large surplus of corn forced Chinese processors to take significant price hits last w...

Market Commentary

Corn couldn't follow wheat higher or soybeans lower today and traded near unchanged until a last minute rally pushed the market 1-2 cents higher, which mig...

Indian Subcontinent Regional Analysis

Heat wave conditions are prevailing across India, strongly impacting poultry farmers as well as dairy operations. There are also implications for crops wit...

U.S. EPA Announces Biofuel Targets for 2014, 2015 and 2016

Today's announcement met the EPA's committment under its proposed consent decree, which was intended to settle the lawsuit filed by two major petroleum tra...

TPA Schedule

The House Republican leadership indicated that Trade Promotion Authority (TPA) could be brought to the floor for consideration in June, but there was not a...

Market Commentary

The EPA data released today was just as bearish as market participants were expecting for corn and more bullish than expected for soyoil. General Comments...

What More Could A Buyer Want?

With low ocean freight rates, growing demand and strong supplies (among other factors), it would be difficult to find better market conditions than current...

Closing Futures Prices

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

Dumbing Down; Best Tweets

The Nebraska legislature is receiving a great deal of attention this week for ending capital punishment in the state, but it also decided against passing a...

Oilseed Highlights

Argentina's government yesterday raised the export tax on biodiesel by 164 percent, applicable to exports made in April. The head of the Argentine Biofuels...

Antibiotic Use Still a Hot Topic

The Oregon State Senate is considering a bill that would ban routine use of antibiotics but allow for their usage to treat sick cattle, hogs and birds. Mea...

Market Commentary

Soybean and soymeal prices had been buoyed recently by the Argentine strike situation that had shut down crush plants and snarled export loadings. Today's...

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