Grain and oilseed markets gapped lower Sunday evening, and those losses accelerated throughout today's session before markets closed. The 8 percent drop in...
Articles
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...
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...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Chilean Food Label Law and the U.S. Junk Food Warning Idea
A new food label law in Chile requires that packaged foods high in calories, saturated fat, refined sugars or sodium bear stop sign-shaped warning notices...
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...
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,...
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...
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...
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...
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...
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...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
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...
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...
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...
Oilseed Highlights
Chinese government data indicates the country imported 8.09 MMT of soybeans in June, primarily from Brazil and Argentina. Trade sources indicate an additio...
Market Commentary
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...
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...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
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...
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...
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...
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...
China In-Country Analysis
U.S. DDGS exports to China surpassed 860,000 MT in May, a 48 percent increase over the same month a year ago. Although the June figures are not yet av...
Greece and the Long-Term Outlook of the Euro
The steps back to normalcy in Greece have had a short-term impact on southern Europe. With yields falling today on Portuguese, Spanish and Italian governme...
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...
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...
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...
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...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Market Commentary
The overnight session produced higher corn and soy prices, while wheat traded lower. However, funds returned as buyers early in the day session, which prop...
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...
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...
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...
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...
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...
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...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Senate Ag Appropriations
The Senate bill was passed in subcommittee by voice vote with no amendments and will be taken up by the full Senate Appropriations Committee on 16 July. It...
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...
Oilseed Highlights
The market has been very focused on China as the driver of global soybean and soymeal demand for good reason. However, there are other populous countries d...
Topics Not Involving Crop Prospects
Whether or not the Food and Drug Administration (FDA), which considers GM foods to be safe, should require that foods containing GM ingredients or made fro...
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...
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...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
“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...
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...
Market Commentary
Today's rally in soybeans and corn came as a result of the confluence of several factors. There was the Chinese market recovery, more heavy rain in the eas...
Risky Business
Recognizing risks and adequately managing them is a key function in the operation of any commercial activity, and it is especially so for agribusiness.The...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
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...
Ag Review: Sustainability and Agriculture
Defining Sustainability Activists, ecologists and economists have all battled over the concept of sustainability, though no one doubts it is an infinite dy...
Black Sea Regional Analysis
Russia's new marketing season started 1 July, but there was no traditional decrease of prices as the new harvest grain entered the market. Instead, prices...
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...
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...
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...
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...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
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...
House Ag Committee to Consider Impact of Reversing Crude Oil Export Ban
One of the more interesting aspects of lifting the ban is the impact it could have on U.S.-EU trade as the EU's strategic need for crude oil could change t...
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...
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...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
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...
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...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
FoE Half Right; Meaning/ful
A survey by the Pew Research Center on American opinions toward GMOs and pesticides indicates that if Big Ag was ever in the fight against its antagonists,...
Market Commentary
Prices swung in wide ranges on both sides before finishing with relatively small changes. Drawn by the rather dramatic change of market momentum this week,...
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...
A Tumultuous Week
USDA's 30 June numbers were mildly bullish for corn and soybeans, and the persistent heavy rainfall over southern and eastern portions of the Midwest has p...
FoE Half Right; Meaning/ful
A survey by the Pew Research Center on American opinions toward GMOs and pesticides indicates that if Big Ag was ever in the fight against its antagonists,...
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...
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...
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...
Mercosur Regional Analysis
Brazil and Argentina took advantage of this week's rise in CBOT contract prices. In comparison, U.S. soybeans are so expensive that there is even talk of s...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
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...
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...
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...
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...
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...
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...
House Ag Subcommittee Examines Label Claim Oversight Infrastructure
There has been a spate of state and local regulations as well as proposed referenda on labeling of GM foods and crops. The hearing was intended to provide...
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...
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...
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...
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...
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...
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...
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...
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...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Farmland Values
This is the second year of what could be a multi-year correction in farmland prices due to lower commodity prices, increasing interest rates and slower inv...
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...
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...
The Potential Surprise of USDA’s 1 June Quarterly Stocks Reports
With all of the focus directed to the release of USDA's planted acreage estimates next Tuesday, the 1 June quarterly stocks reports, which will also be iss...
Big Week; Sugar; RFS
An orchestrated effort to change the supply management approach to the U.S. sugar market has been on hiatus for at least a decade, but that is about to cha...
Market Commentary
Traders lured into short positions in the market by visions of another year of big crops on top of large carryout volumes decided they could no longer bear...
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...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
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...
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...
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...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Prognosis; Implications; Bipartisanship; Taste
The American approval of TPA shifts the international focus to the Trans-Pacific Partnership (TPP), but what are the implications of the former on the latt...
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...
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...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
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...
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...
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...
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...
Market Commentary
Corn again struggled to follow the strong rallies in wheat and soybeans today. The trade apparently believes the wet conditions haven't affected corn acres...
Crop Ratings – A Life of Their Own
While the majority of market participants seem to know that crop conditions are rather subjective and statistically insignificant in relation to the final...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
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...
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...
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
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...
The Acreage Discussion Picks up Some Steam
The discussion now centers on how many total acres of corn and soybeans were planted or will still get planted as well as how the mix between both crops ha...
House Subcommittee Passes Ag Appropriations
The overall spending for discretionary programs and mandatory nutrition programs totaled $143.9 billion, which is $3.2 billion less than the president's bu...
Indian Subcontinent Regional Analysis
With the current threat of El Nino, which could curb monsoon rains and negatively impact India's agriculture, GOI is taking steps to move farmers away from...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
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...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
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...
COOL Retaliation Turns to Arbitration
The U.S. has notified the WTO that it will seek arbitration over its mandatory country-of-origin labeling (COOL) statute and the latest ruling against...
Market Cycles
It is the cyclical nature of freely-traded futures markets that attracts traders and trading volume. If futures prices did not move up and down, there woul...
TPA; RFS; Organic; Welfare; Economy
Legislation has been introduced in the U.S. Congress to eliminate the Renewable Fuel Standard (RFS), but it has no chance at enactment. However, more notab...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
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...
Mercosur Regional Analysis
Argentine soybeans are being offered at around 30 SN for July and August, but demand has disappeared because Chinese buyers seem to believe that there will...
Market Commentary
Grains and the soy complex were trading factors other than interest rates today. Weather and technical considerations once again dominated grain markets, b...
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...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
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...
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...
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...
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...
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...
China In-Country Analysis
Since early March 2015, the average soymeal price has been on a constant downward slide. We expect this trend to continue, as demand from downstream users...
Low Prices and Large Old Crop Supplies Causing Farmer Angst
Farmers now face a predicament they haven’t faced since the bull market started nearly 10 years ago: they are carrying large old crop supplies and have sol...
TPA Angst; WOTUS Lobbying; Unscientific Scientist
Reversing Friday's defeat of Trade Adjustment Assistance (TAA) by legislators will require more than just a few days of lobbying and a change in the legisl...
Trade Victory for U.S. Chickens in South Africa
U.S. chicken products have been blocked from South Africa since 2000 – the same year that the United States passed the African Growth and Opportunity Act (...
Market Commentary
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...
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...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
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...
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...
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...
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...
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...
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...
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...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
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...
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...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
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...
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...
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...
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...
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...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
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...
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...
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...
USDA Report Preview
USDA will revise winter wheat yields and, perhaps, harvested acres.Some downward adjustments in the world wheat crop are also possible with a great deal of...
Southeast Europe Regional Analysis
The EU has now allocated 777,000 MT of the available 950,000 MT duty-free import licenses for Ukrainian wheat. Once the duty-free quota has been completed,...
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...
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...
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...
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...
More Things to Keep You Up at Night
Despite shuttle rail freight values that are now $200-400 per car UNDER tariff through September, there is no demand. Farmers are unhappy with both old cro...
Indian Subcontinent Regional Analysis
The market yard corn price in Bihar has been declining after the recent harvest there. Demand has also been low from the poultry sector as a result of the...
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...
ExIm versus MAP; Natural Booze
The Export Import Bank of the U.S. (ExIm) is set to expire at the end of the month, which has spawned a brawl between Boeing and U.S.-based airlines over t...
Market Commentary
It is hard to put a finger on what sponsored the stronger grain and soy markets. The rally was not widespread across other commodity markets. Last week's e...
Strange Views on Trade
In the past, the goal of increasing trade, especially agricultural trade, enjoyed nearly unanimous bipartisan support. Thus, the current debate raging over...
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...
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...
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...
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...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
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...
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...
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...
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...
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...
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...
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...
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...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
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...
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...
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...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Market Commentary
The EPA data released today was just as bearish as market participants were expecting for corn and more bullish than expected for soyoil. General Comments...
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...
Dumbing Down; Best Tweets
The Nebraska legislature is receiving a great deal of attention this week for ending capital punishment in the state, but it also decided against passing a...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
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...
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...
Pseudoscience
While the U.S. agencies responsible have worked well enough to make foods in the country consistently the safest in the world, there are food critics who d...
Antibiotic Use Still a Hot Topic
The Oregon State Senate is considering a bill that would ban routine use of antibiotics but allow for their usage to treat sick cattle, hogs and birds.Mean...
Black Sea Regional Analysis
With domestic usage accounting for just a small percentage of its annual sunflower meal production, Ukraine may soon have a new market if it meets the expo...
Market Commentary
Although grain and soy futures prices are very low, in some cases at or near multi-month or multi-year lows, the technical profile across the entire market...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
WOTUS; Farm Washing; Africa
The regulated view the final Waters of the U.S. (WOTUS) rule with at least suspicion, and the National Farmers Union, which supported the earlier draf...
Mercosur Regional Analysis
Argentina's financial instability has led to inflation, which is generating labor disputes that in turn are having a serious impact on the entire supply ch...
COOL Repeal Unlikely to Pass Senate
While the repeal of COOL is expected to pass the House handily, the Senate scenario is not so bullish for the statute's opponents as there is still a stron...
Exploitation; Helplessness
U.S. and Japanese trade negotiators reportedly met three times during Trans-Pacific Partnership (TPP) talks in Guam on the issue of access for American ric...
Middle East and Mediterranean Regional Analysis
The Egyptian government reported that it has purchased a record volume of local wheat that is said to be well above its target at a price much higher...
Demand is the Thing
Prospects for demand should not be ignored. When it comes to supply/demand analyses for grains and soybeans, it is the yardstick by which we judge the adeq...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Market Commentary
The surging U.S. dollar steamrolled over just about everything else that might have affected grain and soy futures prices today and put the blocks to nearl...
Oilseed Highlights
The union representing workers at Argentine oilseed processing plants in Rosario plans to continue its current strike that has shut down soybean processing...
Silly; Hypocritical; Stupid; Chauvinistic
The U.S. wheat industry wrote a letter this week to Canadian officials that turned that government's successful arguments against America's country-of-orig...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Market Commentary
Corn lost ground with losses in wheat and soybeans. Some analysts expect the first weekly corn crop ratings of this season to reach record highs. We doubt...
Indian Subcontinent Regional Analysis
India is presently the world's top milk producer at 140 MMT, but its production efficiency is one of the lowest. With a goal of doubling output by 2027 to...
Crop Insurance Program’s Conservation Compliance Due in Two Weeks
Conservation compliance was a controversial provision in the 2014 Farm Bill and was originally proposed to cover only program crops. When specialty crops w...
Perfect
World weather has been very cooperative over the past two years, resulting in record world crop production, increasing supplies and lower prices. We starte...
Oilseed Highlights
Over the last few years, the canola sector in the provinces of the Canadian Prairies has been beset with excess rainfall that has interfered with spring pl...
Market Commentary
A number of factors prompted funds to cover more of their short wheat position. That encouraged some buying in corn as well, which was further suppor...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
COOL: Reform or Repeal
Yesterday the House Agriculture Committee approved a bill to repeal COOL, which will now move to the House floor where it is expected to pass. However, the...
Opponents Rolled; Confused and Frightening
While the U.S. Senate has capped debate on the TPA legislation, there is still negotiation over the amendments that will be allowed to be offered. How...
Global Food Security
Food security and how to achieve it is a complex issue that has been debated throughout recorded history. The question now being discussed is how to provid...
Market Commentary
Overnight trading activity was active for soybeans but rather light for the grains. Drifting is a good word to describe Wednesday's day session, and that i...
Black Sea Regional Analysis
While Russia's wheat exports plummeted from 1 February-13 May 2015 compared with the same period in 2014, its MInistry of Agriculture announced that a new...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Mercosur Regional Analysis
The South American soybean market is seeing reduced Chinese demand for July. One reason is that a sharp drop in the Dalian futures this week eroded crush m...
Curious Votes on Trade; Reading Food Data
Over the past 13 years, relatively few Democrats in the U.S. House of Representatives have voted in favor of international trade, while Republicans have av...
Ongoing TPA Battle
The success or failure of Trade Promotion Authority (TPA) in the U.S. Congress becomes more nuanced as senators try and add amendments that may or may not...
Oilseed Highlights
USDA economists have warned that this year's presidential election in Argentina could trigger a sharp decline in soybean prices if it results in that count...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Market Commentary
Grain and soy futures opened the overnight session with prices mixed before they turned lower. Fund short covering in wheat abated, and markets were pressu...
U.S. Wheat’s Downhill Slope
The ability of EU and/or Black Sea origins to price the value of wheat in world trade makes U.S. prices much less relevant to global wheat markets than the...
Middle East and Mediterranean Regional Analysis
Saudi Arabia's wheat imports are projected to rise by about 10 percent in 2015/16 as local production is decreasing and will be phased out by 2016. I...
House Ag Committee to Take Up COOL Repeal
House Agriculture Committee Chairman Michael Conaway (R-Texas) today introduced a bill to effectively repeal country-of-origin labeling (COOL) requirements...
Media Now Discussing Poor Ag Outlook
After nearly a decade of generally excellent crops coupled with high prices that brought the best economic times in history to U.S. agriculture, the immedi...
China In-Country Analysis
Vice Agriculture Minister Zhang Zhaolin has indicated that pollution in agriculture is becoming a serious issue, and he is not optimistic about China's env...
EPA Browning; Miscellany; Different
Congressional critics have complained that rather than being captive of corporate interests, the U.S. EPA is instead under the control of green nongovernme...
Restaurant Sales Surpass Grocery Sales
The monthly data shows that there has been a dramatic shift toward restaurant spending in the last 10 months, and there are two major contributing factors...
Market Commentary
Weather across the U.S. and Canada provided most of the impetus for today's strong rally in wheat. Corn tried to follow wheat higher, while soybeans had a...
Southeast Europe Regional Analysis
Although the Russian government has officially announced that the export tax is effectively lifted, the new crop (July/August) prices for Russian wheat are...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Global Oil Production Growing
While bearish prices had an impact on U.S. oil, OPEC was not affected and, in fact, may have been spurred onward. Other surprises in the bear market were f...
Indian Subcontinent Regional Analysis
A growing population, the affordability of vegetable oil and its increased usage in Indian households have all contributed to rising oil demand. Domestic s...
Market Commentary
Those traders who rely primarily on charts for decision-making generally realize that week-ending prices can influence recommendations via key indicators...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Trade Debate; Manipulation; Food Security; View
Former DPJ Minister for Agriculture Masahiko Yamada is suing the Japanese government over its Trans-Pacific Partnership (TPP) negotiations, arguing it thre...
Market Commentary
Those traders who rely primarily on charts for decision-making generally realize that week-ending prices can influence recommendations via key indicators...
Not Much Bearish News Left
Funds are still short a record amount of wheat futures. Without much other bad news left to throw at the wheat market, a few positive stories have apparent...
Market Commentary
Today's markets were all about wheat, and the corn market was towed higher by its mega-rally. However, the strength of the grains did not transfer very wel...
Hucksters; Ruses; Bipartisanship
Recognizing that the National Organic Standards Board (NOAB) has become dominated by marketing decisions, the National Farmers Union has made a request to...
Oilseed Highlights
The U.S. has long been the world's largest soybean-producing country, but South America now appears to have supplanted it.as the global residual supplier...
COOL Decision by Monday
The WTO has set a deadline of 18 May for its final decision on the U.S. appeal regarding country-of-origin labeling (COOL). If the appeal is rejected, the...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Parsing Supply and Demand
It is often said that supply/demand analysis for grains and oilseeds is far more art than science. Of course, the farther into the future the forecasts of...
Market Commentary
Following yesterday's WASDE release, optimistic viewpoints allowed grain and soy markets to make a modest recovery today. Soybean and corn prices were up,...
Organic Speech; Fast Track and Jobs
The U.S. organic foods industry formally petitioned USDA this week to initiate a research and promotion program for organic, but its goals may be different...
Mercosur Regional Analysis
Soybeans would seem poised for an imminent selloff, but Argentina's farmers are being motivated to retain their large harvest by the futures market there t...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Black Sea Regional Analysis
With sufficient stocks available and a strengthening national currency, Ukraine's feed grain prices have decreased both domestically as well as on a few ex...
Middle East and Mediterranean Regional Analysis
With domestic food price inflation approaching close to 10 percent, Egypt is using $6 billion received from Saudi Arabia, Kuwait and the UAE to make more&n...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
TPA Vote Meaning; Transatlantic Differences
It was all politics around the Trade Promotion Authority (TPA) bill on Capitol Hill today as a cloture vote to end debate on it fell short, bringing differ...
The May 2015 WASDE
We are not sure that each year's May issue is always the most important of the springtime WASDE reports. However, they are still always very interesting an...
Oilseed Highlights
USDA's May 2015 supply and distribution report was released today, which includes the first estimates for MY 2015/16. Many changes are likely over the next...
Reigning in the Fed
While monetary policy and the Federal Reserve itself are on the radar screen of policy makers who follow financial issues, the entire subject is still some...
Market Commentary
Today's markets were all about the May WASDE released today by USDA. Corn futures traded both sides in about an 8-cent range before closing with just fract...
Crude Oil Exports and the Future of the U.S. Energy Sector
With the debate over lifting the ban on the export of crude oil becoming more pertinent, the U.S. Energy Information Administration (EIA) commissioned a st...
Southeast Europe Regional Analysis
The EU allocated 273,000 MT of wheat export licenses last week, bringing the total to 28 MMT. Carryout stocks wil be significantly different this year, whi...
China In-Country Analysis
China's state corn purchase program for temporary reserves was estimated at around 83.4 MMT as of 30 April, a significant change from last year. Meanwhile,...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Market Commentary
Several factors combined to pressure corn again today. Wheat lumbered along in step with the corn market, while its weekly export inspections were in line...
USDA 2015/16 Estimates Start Tomorrow
About the only thing certain about tomorrow's numbers is that we believe USDA will use the 31 March planting intentions numbers for acres, while the yield...
Miscellaneous Segments of Note
As the EU is expanding its prohibitive environment for GMOs by seeking to allow individual member states to decline their otherwise safe use and GMO labeli...
Market Commentary
Markets didn't produce much change overnight. Funds are still holding massive (record) short positions in wheat, and they were small buyers to end this wee...
Lag Effect in Biofuel Policy
As usual, policymakers and markets are out of sync with the latest case being renewable fuel mandates and bearish grain markets.As usual, policymakers and...
Biofuels Roundup
With gasoline prices quite high in Brazil as a result of government actions, ethanol has become more attractive to motorists there in a country where the a...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Indian Subcontinent Regional Analysis
Although GOI provided an incentive to ethanol manufacturers and an exemption from the 12.36 percent excise duty, the availability of cost-effective molasse...
More Things to Keep You Up at Night
The Kansas crop tour wrapped last night with participants seemingly surprised and disappointed by the results. The trouble today is that few people actuall...
Some Ideas Never Die
Several current factors may make a merger of the SEC and CFTC seem conceptually more appealing that it used to be. However, there are still great differenc...
Oilseed Highlights
Indonesia has taken action to support further development of the biodiesel sector with the goal of expanding domestic production and consumption of biodies...
Red Meat Exports
According to the U.S. Meat Export Federation (USMEF), the muscle cut ratio of March pork exports was the largest percentage since July 2013, while that for...
Market Commentary
Grains and the soy complex prices were mixed, but not much changed overnight. They weakened, though, during the day session as the U.S. dollar strengthened...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Ag Review: Water Around The Globe
Water Solution at Hand There are resource constraints on earth, but water is not one of them. Likely Future Conflicts over Water Safe water for human consu...
Obama Allowing Mandatory GMO Labels
While USDA Secretary Tom Vilsack charged this week that the EU threatens global food security with its proposed opt-out policy regarding GM crop imports, t...
Black Sea Regional Analysis
The volume of Ukrainian vegetable and animal product exports to the EU during January-March 2015 showed a significant change. Vegetable product exports wer...
Contrasts; No Worries
The U.S., Australia and New Zealand have been pushing Trans-Pacific Partnership (TPP) partners to adopt a common position on the geographic indicators (GIs...
Market Commentary
The sharp correction of the U.S. dollar against the value of other major currencies accelerated today. Meanwhile, the corn market was torn between the stro...
Mercosur Regional Analysis
The common expectation at the recent Wheat Congress in Argentina is that market inefficiencies will improve once there is a new government, but producers'...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
COOL: High Costs, Low Return
The 2014 Farm Bill required that USDA's Office of Chief Economist (OCE) provide Congress with an economic analysis of the impact of mandatory country-of-or...
Middle East and Mediterranean Regional Analysis
The difficulties in Syria have caused a change in regional shipping patterns as grain cargoes, which in the past would have enterd Syria's ports for discha...
Market Commentary
The soy complex was today's market leader, and soyoil futures set the pace. The catalyst has been a major move in the world edible oil market by China. Gen...
Oilseed Highlights
A union representing workers at 20 percent of Argentina's soybean processors went on strike today demanding higher wages. A major union representing truck...
The Merry Month of May
Just how merry the month of May turns out to be for producers and consumers of grains, soybeans and their products depends to some degree on the prices of...
Politics of Trade
The politics around congressional consideration of Trade Promotion Authority (TPA) and, subsequently, the Trans-Pacific Partnership (TPP) is becoming quite...
China In-Country Analysis
With the planting margin spread between corn and soybeans steadily widening, Chinese farmers have been less willing to dedicate land to the latter crop. A...
The Market Struggles for News
The market's problem continues to be adequate supplies of wheat and feed grains around the world and few worthy weather issues to talk about as the spring...
Southeast Europe Regional Analysis
While buying interest in Russia's wheat is below offer prices, there is talk in the market that the government there could lift the export tax as early as...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Wet Blanket; More Lunacy; Correctives
The U.S. House appears ready to move on legislation to correct a couple of unhelpful issues in the agriculture market. One bill would pre-empt state labeli...
House Biofuels Caucus Recruiting Members
Leadership of the bipartisan caucus has sent a letter to other members of Congress asking that they join the group to support renewable energy production t...
Market Commentary
The market was expecting today's crop progress numbers to show that 50 percent of the U.S. corn acreage has been planted, but the total was higher. Meanwhi...
Market Commentary
Wheat tried to trade higher off and on today, and Chicago July did show gains of 5-6 cents at one point. Meanwhile, the soybean market followed yesterday's...
Indian Subcontinent Regional Analysis
In spite of the contentious issues of farmer suicides, their inability to receive full price for their production and the fact that 60 percent of India's p...
Kansas Wheat Tour Next Week
With only one potentially significant crop production problem facing the U.S. earlier this spring, next week's Kansas crop tour might provide some interest...
Newspaper Hypocrisy; WOTUS Wrong
The Washington Post criticized the Chipotle restaurant chain yesterday for pandering to the unfounded fears of consumers seeking to avoid GMOs, so why are...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Congress Proposes Block of WOTUS Rule
While the House Transportation and Infrastructure Committee has passed a bill that would block implementation of the WOTUS rule, a bipartisan group of sena...
Market Commentary
Confidence that the Argentine labor situation will quickly be resolved along with weakening world grain prices seemed to trump a surprisingly friendly week...
More Avian Influenza: Congress Urges Emergency Spending
The leadership of the House and Senate Agriculture Committees is urging USDA Secretary Tom Vilsack to transfer funds from the Commodity Credit Corporation...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Legislative Reversal; Economic Blah
The ink was barely dry on a positive spin for Trade Promotion Authority (TPA) surrounding this week's visit to Washington by Japanese Prime Minister Shinzō...
Size and Efficiency
The expansion in container ship size, capacity and efficiency is a reflection of free trade and its benefits. However, growth in the size of these vessels...
Oilseed Highlights
Many in the market see today's soybean prices as low versus the highs of the last three years. Perhaps many of the new players in futures markets do not re...
Mercosur Regional Analysis
The strengthening of the real is encouraging Brazilian soybean producers to market slowly. Meanwhile, Chinese buyers seem primarily interested in purchasin...
Black Sea Regional Analysis
While Russia's grain exports have substanially increased overall in the current marketing year, there have been other contrary changes in the volume of whe...
Market Commentary
Soybean prices were supported by the weaker U.S. dollar and the potential for labor problems in Argentina as farmers, processors and exporters try to handl...
Japan Darts Past Europe; Tricking the Old
It is no surprise why the Trans-Pacific Partnership (TPP) is about to come to fruition and TTIP looks like mostly many years of meetings and a modest outco...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Successful Regular Order; GMO Stunts
While the Senate Environment and Public Works Committee has been one of the most politically contentious with the two parties at wide odds on environmental...
Oilseed Highlights
If the EU proposal to allow member states to individually opt out of allowing the importation and consumption of biotech crops is adopted, there could be s...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Market Commentary
The day session saw wheat futures swinging higher after setting new lows, and soybeans running up 15-16 cents before retreating late to close with only mod...
Budget Conference Report Likely This Week
Both the House and Senate budgets look to boost defense spending, while one of the other outcomes from the budget conference negotiations is related to whe...
Middle East and Mediterranean Regional Analysis
It is being reported in London that the major commodity houses are lining up to do business in Iran.This could be a very good opportunity to supply g...
A Few Idle Thoughts
We are about to enter that annual transition period between the old crop cycle and the new one. Supply/demand tensions have provided a considerable degree...
Southeast Europe Regional Analysis
With rising prospects for quite a good wheat crop, Russia's export tax should logically be lifted 1 July at the latest. However, that is still uncertain du...
Dust to Dust: The CWB Goes Away Again
Bunge Canada's recent purchase of the Canadian Wheat Board concludes the second chapter in its demise since the Canadian government attempted to turn...
Losing Scale; Missing; Notables
The opportunity that has been missed in the current trade debate by Republicans and Democrats alike is the reform and boosting of worker retraining. Contra...
Ownership in the Digital Age Issue Hits Agriculture
One of the sleeper issues in the U.S. and global economy moving forward is privacy and proprietorship of information. This concern has arisen in various fo...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Market Commentary
The soybean market continues to have legs of its own. Meanwhile, funds are short in excess of 500 million bushels of wheat futures, and they added to that...
China In-Country Analysis
China's Ministry of Agriculture unveiled the country's 2015-2024 outlook last week with projections and analysis on supply, demand, exports and imports for...
Avian Influenza Situation Update by the Numbers
The strains, which are multiple, mutate readily and are named after the two protein groups in the virus. The rate of outbreak has increased over the past w...
Market Commentary
Managed money remains heavily short wheat, corn and soybeans. Meanwhile, the focus of today's wheat markets was more on planting progress in the week...
Show Me the Weather
Today's extended weather maps and the pattern that is developing should impact talk of planting delays across the Corn Belt.Today's extended weather maps f...
Indian Subcontinent Regional Analysis
The recent weather patterns in India have affected the rabi corn harvest and the wheat crop. As a result, there are far-reaching implications domestically...
TTIP Pretense; GMO Humor; Sustainability
Part of this week's ninth round of TTIP negotiations, yesterday's public session in New York, had American activist groups acting like their transatlantic...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Avian Influenza Update: Top 10 Poultry Export Markets Impose Bans
The latest development in the H5N2 strain of highly pathogenic avian influenza (HPAI) outbreak in the U.S. has been its discovery in a 3.8 million egg laye...
Oilseed Highlights
Statistics Canada today released the outcome of a planting intentions survey conducted 18-31 March that showed a surprising result regarding Canadian farme...
Tough Times for Index Funds
After being blamed in the past for artificially pushing grain prices to very high levels, index funds have pretty much slipped away from public attention t...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Souljah Opportunity; Labor Dissed; Unsweetening
During a markup session before the Senate Finance Committee last night, Senate Democrats chose to help President Obama on trade and only pay lip service to...
Market Commentary
Weekly export sales for corn and wheat were slightly better than expected, and this helped trigger something of an early rally for futures prices during da...
Market Commentary
Corn futures prices traded in less than a 5-cent range before closing fractionally lower. Funds and other noncommercials holding long positions in May corn...
Mercosur Regional Analysis
While the Argentine government has not released any additional wheat export licenses, it did make an announcement in this election year regarding far...
Black Sea Regional Analysis
Both Russia and Ukraine have reported domestic grain stock volumes that have notably changed from a year ago. Meanwhile, the board chairman of Cherkizovo G...
Big Test for TPA; Uniquely Ag
The U.S. Supreme Court heard arguments in Horne v. Department of Agriculture (USDA), and the justices learned once again that agriculture is treated unique...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Transatlantic Focus; Dems on Trade
While Europeans are in the U.S. pushing hard for acceptance of geographic indicators (GIs) as part of the TTIP negotiations, one potential reason why the U...
Market Commentary
It has been a slow Tuesday for grain and soy futures markets with corn and soy prices unable to hang on to yesterday's gains. Much of the market's chatter...
Expressing Market Opinions
Nearly all of us who watch and trade in commodity futures markets eventually develop an opinion about the direction prices will take. These are called futu...
Oilseed Highlights
China's Ministry of Agriculture published a report today that predicts the country's annual soybean imports will rise by 15.8 percent between now and...
Cuba Ag Trade: Potential and Politics
One of the somewhat surprising issues to gain traction this year in Congress has been the status of Cuba trade and diplomatic relations.One of the somewhat...
Middle East and Mediterranean Regional Analysis
Egypt has faced a much stronger outbreak of avian flu this year in small village flocks, which experts attribute to a specific factor. While none have been...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Trade Rhetoric; Backward Food
Now that there is a bill, the two major congressional committees with jurisdiction over trade plan hearings in the next two days on Trade Promotion Authori...
Southeast Europe Regional Analysis
Even though the new crop (July/August) 12.5 percent protein Russian/Ukrainian wheat is offered at $195/MT FOB, a price that is historically attractive at b...
Market Commentary
Short covering continued across the soybean futures today. Most analysts are bearish, based on the forecasts for record world ending supplies. The problem...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
House Votes to Repeal Estate Tax
Farm groups are urging the Senate to also address an estate tax repeal, and Senator John Thune (R-South Dakota) has introduced a companion bill to the Hous...
China In-Country Analysis
A Chinese trading company was found last week to have illegally imported more than 6,000 MT of frozen meat worth about 345 million yuan ($55.6 million). Th...
Biodiesel Challenge; Available Land Implications
The Minnesota Trucking Association and others filed a lawsuit in U.S. District court last Friday that alleges that state's mandate to use a 10 percent biod...
Indian Subcontinent Regional Analysis
Avian flu has again surfaced in India as it erupted in the heart of the poultry belt in Telangana, which supplies eggs to eastern areas of the countr...
The State of Wheat
Even though it didn't seem like there was much of any weather premium in the market before this week's rainfall, the speculative trade evidently felt there...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Alternative Diesel Tax Credit
On 15 April, the U.S. Senate Finance Committee gathered a number of recommendations for comprehensive tax reform that could potentially be considered this...
Market Commentary
Markets did absolutely nothing overnight and started that way this morning. Prices were little changed in corn, wheat and soybeans until just after 10:30 a...
Misdirected Aid; Nonreciprocals; Status Quo
The Chicago Council on Global Affairs has issued a report ("Healthy Food for a Healthy World") calling on U.S. policy makers to save the world from starvat...
Oilseed Highlights
Argentine farm organizations yesterday asked soy exporters to stop inspecting cargoes for bootleg biotech soybean events. The exporting firms have been doi...
Market Commentary
Corn closes were mixed, and soybean prices were higher. The state of play in today's market can be described by noting that not one soybean or corn contrac...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
European Dairy without Quotas
A more than 30-year old system of national quotas for milk production in Europe ended last month and is expected to change the dairy market across the glob...
Attacks on Common Sense
There have been many occasions when reason and common sense have been swept aside by emotion, demagoguery and political expediency. Two current examples wi...
TPA Dissected; Trade Doublespeak; Organic Trash Talk
A bipartisan, bicameral bill authorizing Trade Promotion Authority (TPA), "The Bipartisan Congressional Trade Priorities and Accountability Act of 2015," w...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Burning Witches Redux
American politicians are no more averse to wrongheaded public pressure than their European counterparts – witness the current opposition to Trade Promotion...
Market Commentary
There were quite a number of sometimes contradictory factors for grain and soy market traders to chew on today, including the National Oilseed Processors A...
Black Sea Regional Analysis
As Russia reports a substantial increase in grain exports thus far in MY 2014/15 compared to a year ago, Rusagrotrans has downwardly revised its forecast f...
Mercosur Regional Analysis
The anticipation of Argentina's government distributing additional export licenses for corn and wheat is presently having little to no effect on spot corn...
Middle East and Mediterranean Regional Analysis
Pakistani customs officials have confiscated shipments from Ukraine, Russia and Moldova, claiming there are quality issues. The latest seizure was reported...
When Will the Fed Increase Interest Rates?
The overwhelming consensus is the Fed will raise interest rates, but the open question regards when. Following the Federal Reserve meeting in March, there...
Market Commentary
Grain and soy futures prices never go in the same direction all of the time. This is the truism that supports the phenomenon known as Turnaround Tuesday –...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Oilseed Highlights
There are now reports the EU will soon propose options to deal with biotech crops. One under consideration would allow EU member countries to decide indivi...
Abe versus Xi; TPA Hardball; Trans
The EU's precautionary principle has kept Brussels well ahead of Washington in the issuance of restrictions against potentially frightening things. Thus, i...
Corn Questions
Some questions still remain to be answered concerning the current 2014/15 corn situation. One of those pertains to the size of Brazil's crop, and another r...
USDA to Expand Supplemental Coverage Option
Coverage under SCO is available in 2015 for a few select crops in a few designated counties. Specific requirements must also be met, but there will be chan...
Not So Simple Solutions
McKinsey & Company ranks high amongst major management consulting companies, but even it appears to struggle with the complexity of the agrifood system...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
U.S. Soybean Exports Almost Finished
What happened to the "demand destruction" that several years of very high prices were supposed to have wrought on the markets?Today's weekly export inspect...
Market Commentary
There was the smell of rain in the air across the western reaches of the U.S. hard red winter wheat region, and that was enough to bring another major roun...
China In-Country Analysis
While the drop in China's live pig and sow inventories clearly has propped up prices, the continued upward trend might actually decelerate due to downstrea...
Indian Subcontinent Regional Analysis
With its oil meals priced high, India has seen the level of exports impacted significantly, and the poultry sector there could benefit by importing supplie...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
RFS; Jurisdiction; Economy
As officials currently in charge of the EU are increasingly looking for ways to devolve power to the member states, including over GMOs, Washington is cons...
More Things to Keep You Up at Night
The last major USDA reports are behind us until the 30 June acreage and quarterly stocks updates. We're back to weather first and demand second, but there...
The California Drought and Agriculture
California is in a major drought situation and now under emergency restrictions declared by Governor Gerry Brown. While these exempt agriculture, which has...
Market Commentary
Markets were quiet overnight with corn, soybeans and wheat trading both sides in light volume. Wheat popped back today with some decent gains, while soybea...
Cases of Avian Influenza Discovered in Minnesota and Canada
All of the cases have been detected in the past month with five of those found since last week. The Minnesota farms are in a flyway for migratory birds, pu...
Closing Futures Prices
Today's grain, oilseed, cattle and hog prices...
Market Commentary
Grain and soy futures headed lower overnight with soybeans leading the way, and prices stayed lower this morning ahead of the release of USDA's April WASDE...