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Black Sea Regional Analysis

Russia has been increasing its soybean production over the past several years because of high demand from domestic animal and poultry feed producers. Accor...

Mercosur Regional Analysis

Competition has intensified for South American soybean exports as the recent 20-cent collapse in basis at the U.S. Gulf has brought U.S. production back in...

Market Commentary

Today’s market action gave further signs that the seasonal price rally is underway. In the last two days, the November soybean contract has gained 14.25 ce...

Corn Belt Regional Analysis

There is a general expectation that any potential production shortfalls in the eastern Corn Belt this season will be more than compensated by the western s...

Trudeau and TPP; TTIP’s Achilles Heel

The tariffs being negotiated in Miami this week on transatlantic trade are the easy part. The likelihood of removing regulatory barriers via the Transatlan...

Closing Futures Prices

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

Canadian Election Results

The centrist Liberal Party maintained its momentum and swept to power with 184 seats, 14 more than needed to gain an outright majority government. There ar...

Market Commentary

There are often days when prices for the grains and soybeans all move in the same direction, but we cannot recall one when closing price changes were as co...

The EU’s Wheat Problems

While the EU was able to mostly deal with its huge wheat supplies in 2014/15 through large increases in feed use and exports, it will have greater difficul...

Oilseed Highlights

An assessment completed for several European agricultural organizations indicates costs to the EU feed and livestock industries would increase by up to 2.8...

Middle East and Mediterranean Regional Analysis

The Egyptian pound was devalued by 1.2 percent last week as the country's importers still face difficulties making their payments in U.S. currency. Most ma...

Closing Futures Prices

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

China In-Country Analysis

The Chinese producers' soymeal price averaged RMB 2,837/MT ($447.20/MT) last week. That reflected a RMB 40/MT ($6.30/MT) increase from a week ago as the es...

U.S. EPA to Review Ethanol GHG Emissions

This is occurring as a number of anti-ethanol groups have again raised the issue of GHG emissions. One of the most strident is the Environmental Working Gr...

Market Commentary

The soy complex seemed to have had some positive news to start the week, but that couldn’t translate into any gains for soybeans, meal or oil. A great chan...

Subsidies; Burning Surpluses; Outnumbered; Consumers

This week the U.S. House Agriculture Committee will hold a hearing excoriating the agricultural subsidies issued by foreign governments for the harm they c...

Weather and Wheat

Wheat prices are now back to the level that the world’s buyers should seriously consider adding to their volume of inventories and long-term coverage. Howe...

Market Commentary

Markets were soft again in the Thursday evening session and started lower today. They were expecting some pre-weekend hedge selling, although farmers conti...

Indian Subcontinent Regional Analysis

Pulses are becoming more of a luxury food  item than a stable protein in India as both demand and prices continue to rise. Similarly, poultry and dair...

Election Day in Canada

Monday, 19 October is election day in Canada. In 2011, Harper’s Conservative Party (a.k.a. the Tories) won a majority in the House of Commons with just und...

Fair Play Turnabout; Healthy Unpalatable

No trade agreement is perfect, including the new “Bronze Standard” Trans-Pacific Partnership (TPP) accord. Now Democrats and Republicans are highlighting j...

Closing Futures Prices

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

Minor Crop Yields Also Big

Corn, wheat and soybeans are certainly the major crops that receive all of the market’s attention, but the so-called minor crops also enjoyed a banner year...

Futures Market Memories

Except for a few options contracts, virtually all trading of CME futures is now conducted electronically via computers. However, It seems to us that open o...

Market Commentary

Trading volume was in decline by the time the day session opened except for soybeans, which were maintained by commercial support until about mid-session...

South African Poultry Deadline

. In July, South Africa agreed to an annual antidumping duty-free quota of 65,000 MT for broiler meat that also allows for future growth. Today is the dead...

Oilseed Highlights

ADM announced yesterday that it plans to add capacity at its rapeseed crushing plant in Straubing, Germany to process non-GM soybeans predominately sourced...

Selective Organic; New Old Trade Policy

The EU Parliament’s agriculture committee rejected a regulatory reform proposal by the EU executive that would have made the organic food sector live up to...

Closing Futures Prices

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

Black Sea Regional Analysis

Ukraine's domestic prices for milling wheat and feed wheat were more or less stable (in UAH expression)  5-9 October despite the growth in their respe...

TPP’s Bronze Standard

Geopolitical analysts argue that the U.S. rushed to conclude a deal, any deal, because the Trans-Pacific Partnership's (TPP’s) real objective is to be a co...

Mercosur Regional Analysis

South American soybean producers have already exported a good volume, and the likely additional increase from Brazil and Argentina is expected to reduce de...

Market Commentary

Without the leadership of the soy complex, wheat and corn futures prices struggled to stay near yesterday’s closes before finally closing lower. Wheat gave...

Closing Futures Prices

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

What Comes Next?

A number of situations could erupt in unpredictable, serious ways that could interfere with world grain and soy trade flows and have significant effect on...

Oilseed Highlights

The slowdown in China's economy is clearly having a significant impact on 2015/16 global soybean demand as growth in its soybean imports is expected to be...

Closing Futures Prices

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

Presidential Hopefuls and TPP

It should be noted that the reported eight-chapter text of the agreement has not been publicly released yet, so a reasonable, pragmatic politician can be e...

Market Commentary

Price action in the overnight session was mixed with soybeans trading a few cents higher, wheat just above unchanged and corn slightly lower. Those results...

Middle East and Mediterranean Regional Analysis

Saudi Arabia's grain imports for 2015/16 are expected to rise by about 1 MMT to 17.4 MMT. This includes 8.5 MMT of barley, 3.6 MMT of corn, 3.8 MMT of whea...

TPP Politics; Data as Food; Marketing

The European Court of Justice’s ruling against the safe harbor agreement on data transfers across the Atlantic is being hailed by European nationalists. Ma...

Southeast Europe Regional Analysis

The market in Bulgaria and Romania is slightly more active due to the price rally of Russian and Ukrainian wheat. Romania sold a cargo to Egypt’s GASC, and...

Wrong Suspects; Horrible Trade Rhetoric

Three years of successive large agricultural crops coupled with slower economic growth and lower subsidies from Brussels have farmers in Europe complaining...

Closing Futures Prices

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

House Votes to End Crude Oil Ban

Heretofore, the one primary argument has been that exports of crude oil would increase the domestic price of oil. However, export advocates argue (and the...

China In-Country Analysis

Based on conversations with traders this past week, the average landed prices in China for U.S. DDGS have been RMB 1,400-1,450/MT ($221.20-229.10/MT). They...

More Things to Keep You Up at Night

U.S. farmers will not be the only producers looking for ways to hold their financial statements together as it is becoming a worldwide problem. Everyone el...

Market Commentary

The November soybean contract was up as much as 8-9 early in the day with a high of $8.94½. $8.97-9.00 is still technical resistance, and the market hasn’t...

Neutral USDA Reports

It is now highly unlikely we will see any major changes to the U.S. corn and soybean production estimates in future reports. The early and rapid pace of th...

Indian Subcontinent Regional Analysis

There have been mixed reactions in India regarding the finalization of the 12-nation Trans-Pacific Partnership (TPP) agreement. While it is still to be rat...

House Leadership Chaos

The problem now for the Republicans is that it appears possible that no one single candidate can unite their conference and be elected speaker with at leas...

Closing Futures Prices

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

Market Commentary

Today's USDA numbers were generally slightly bearish as ending supplies for wheat, corn and soybeans all came in above the range of pre-report estimates. A...

Trade and Food Policy

WTO Director General Roberto Azevêdo congratulated the 12 countries completing agreement on the Trans-Pacific Partnership (TPP) even though he may wish tha...

Market Commentary

Prices sagged throughout the day session due as much or more to an absence of buying interest as to aggressive selling. Funds were on the sell side across...

DGAC Drops Anti-Meat Sustainability Language

The controversy over inserting sustainability considerations into the five-year update of the federal Dietary Guidelines for Americans may have just come t...

Excessive Speculation (Again)

While it is agreed that derivative markets need speculators to provide enough trading volume and market liquidity so that those with certain vested interes...

Oilseed Highlights

USDA is now releasing details of the Trans-Pacific Partnership (TPP) agreement and has confirmed that Japan agreed to eliminate its tariffs on soyoil in si...

Ag Review: The Volatility Issue

Loss Avoidance, Volatility and Food Security Volatility is the market seeking supply and demand balance, but the market lacks trust when it comes to balanc...

Closing Futures Prices

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

TTIP Trouble; Hari-Kari; Cuba; Diet

The conclusion of a transpacific trade agreement has prompted some members of the European Parliament to anxiously call for expediting completion of the tr...

Mercosur Regional Analysis

South American soybean exporters are expressing some concern about potentially limiting supplies for the February-March period due to possible delays in pl...

Market Commentary

With upward momentum from yesterday’s strong performance still in play, grain and soy prices were firmer again during the overnight session. Prices across...

Closing Futures Prices

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

Black Sea Regional Analysis

As Ukraine's Ministry of Agrarian Policy and Food prepares to sign a Memorandum of Understanding that will establish the volumes of grain allowed for expor...

Oilseed Highlights

While a majority of EU member countries have opted out of allowing their farmers to produce biotech crops approved for production within the union, Romania...

Sliding Toward the October WASDE

USDA’s October WASDE with fresh U.S. corn and soybean production estimates compiled in the midst of the harvest is always fun. This year’s edition, which i...

Middle East and Mediterranean Regional Analysis

It is reported in the local trade that Egypt’s GASC may change the minimum protein level on its wheat tenders from the current requirement of 12 perc...

Closing Futures Prices

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

Commodities Need Demand

There are doubts that continued pump priming by central banks will yield the level of stimulative effect that is needed and desired. Someone needs to produ...

Market Commentary

Several factors have helped support this week’s higher grain and soy prices, but it will be whatever tone is set by this Friday’s WASDE that will determine...

Budget Numbers Still May Add Up to Government Shutdown

The long-term CR is likely to be based on the budget resolution, and the cuts to mandatory spending are likely to be in any such legislation that appears i...

Southeast Europe Regional Analysis

OilseedsThe sunflower seed harvest is about 85 percent completed in Romania and Bulgaria, and the price has rallied approximately $50 during the past three...

Farmers and Futures Markets

The one thing that seems to be clear is that farmers simply aren’t selling very much of this year’s production off the combine. This reluctance to sell als...

Dairy Production Up on Fat Demand and Lower Feed Costs

In addition to stronger demand, dairy producers are enjoying good margins. This is despite milk prices being down from previous years and exports starting...

China In-Country Analysis

Following the RMB 240/MT decrease in the last week of September, the average domestic corn prices in both northern and southern China have been steadily fa...

TPP Analyzed; Soft Power; Proximity; Worms

Trade ministers highlighted the precedent this accord sets for future agreements as well as for the Pacific region. Unmentioned but more important at this...

Closing Futures Prices

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

Market Commentary

World financial markets were very strong to start this week, and that strength spilled over into energy and agricultural commodity markets. Expectations we...

Southeast Europe Regional Analysis

The sunflower seed harvest is about 85 percent completed in Romania and Bulgaria, and the price has rallied approximately $50 during the past three weeks...

Closing Futures Prices

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

Closing Futures Prices

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

Indian Subcontinent Regional Analysis

India’s food industry is facing a period of uncertainty, especially as the FSSAI is unable to decide if it should set standards for products or ingredients...

Industry Seeking Approval for Continued PHO Use

In June 2015, the U.S. Food and Drug Administration (FDA) declared that partially hydrogenated oils (PHOs) are not generally recognized as safe (GRAS). How...

Russia; Food Aid; Meat; Trade; TPP and RFS

While Russian Finance Minister Anton Siluanov is trying to reduce the financial burdens on the state, including privatizing assets, the agriculture ministr...

Indian Subcontinent Regional Analysis

India’s food industry is facing a period of uncertainty, especially as the FSSAI is unable to decide if it should set standards for products or ingredients...

Market Commentary

The sharply lower opening in the financial markets spilled instantly over into the agricultural markets. However, they all started to firm as U.S. financia...

Low Prices Will Mean Lower World Production

U.S. farmers are starting to face the ugly reality that $3.50-4.00 corn, $8.50-9.00 soybeans and $5.00 wheat simply don’t work, even with big yields. Like...

Price Reporting Bill on President’s Desk

The House of Representatives passed the mandatory livestock price reporting reauthorization this week. The Senate had already approved the bill, which cont...

Shortages; TPP Tradeoffs; Worry

The results from the Trans-Pacific Partnership (TPP) ministerial in Atlanta will become clear shortly, but the trade-offs are at hand. Sense not Crop Short...

Closing Futures Prices

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

Dragging Exports

It is safe to say that the soft global economy and currency gyrations will have some impact on world demand. However, predicting exactly how that happens a...

Oilseed Highlights

As the volume of India's vegoil imports has continued to rise in recent years with palm oil the most in demand, another oil accounts for a substantial shar...

Market Commentary

Today’s grain and soy futures trade appeared to be mostly a continuation of the market’s reaction to yesterday’s stocks and small grains reports. Wheat's g...

Black Sea Regional Analysis

The Russian Ministry of Agriculture lowered its 2015 grain production forecast from 100-103 MMT to 100-101 MMT. The export volume is estimated at 30 MMT. R...

Closing Futures Prices

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

Futures; Differentiation; GMO Ban; Frivolous

Despite greater European suspicion of sophisticated financial instruments, Brussels needs tools to help farmers manage risk that go beyond the limits of su...

Mercosur Regional Analysis

An interesting study  released by AACREA this past week seems to conclude that it will be difficult for Argentine farmers to financially break even th...

When All the Money Goes to Debt

There are some parallels to be drawn between the predicament that debt-laden commodity businesses find themselves in and our personal households. Although...

Market Commentary

Today’s lower-than-expected grain and soybean stocks may temper the bears’ enthusiasm. By the same token, however, bulls will have great difficulty using t...

Middle East and Mediterranean Regional Analysis

Iran has cancelled both the wheat and barley import duties that had been added this past July. It is still expected to import about 4 MMT of wheat in 2015/...

Food Tribes; PRC Corn; Aussie Canola

Beijing could have easily foreseen the error in its farm policy had it just looked at the European and American experiences with guaranteeing high prices t...

House GOP Leadership Update

The number of positions potentially changing hands depends on which of those posts open up after the shuffling among current leadership members settles. T...

Oilseed Highlights

Last Thursday's announcement regarding China's agreement to purchase 13.18 MMT of U.S. soybeans was well received by the market. More recent reports, thoug...

Market Commentary

Corn futures contracts traded quietly in a range of less than 5 cents before closing mostly higher by 2 cents or less. This seems to suggest that traders t...

Closing Futures Prices

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

1 September Stocks Report

Tomorrow's release of USDA's quarterly stocks estimates will provide some fresh fodder for the grain and soy markets, which are eager for news even in the...

A Lot on the Plate This Week

Weakness in EU and U.S. financial markets, led in part by talk that Glencore might be in big trouble and looking for a partner in its agricultural commodit...

Ethanol Market Value and Blending Economics

So far in September, ethanol has been more expensive than reformulated blendstock for oxygenated blending (RBOB) – i.e., the unleaded gasoline. This skews...

Japan; China; Regulation; Trade

At last week's bilateral meeting with the U.S., Chinese President Xi Jinping said agriculture is a field where both countries would "expand mutually b...

Market Commentary

Grain and oilseed markets started the Sunday evening session steady to higher, but that pattern changed this morning when the soy complex started to lose g...

Southeast Europe Regional Analysis

Milling WheatThe Black Market market is firmer due to slower farmer selling. Russian wheat is about $5 higher than the season's lows of two weeks ago. Mark...

China In-Country Analysis

Strong demand from the feed industry last week had a notable impact on China's estimated soymeal inventories, reversing a trend from the past three weeks t...

Southeast Europe Regional Analysis

The milling wheat market in Romania and Bulgaria is unchanged. Producers prefer to sell sunseeds and corn from the ongoing harvest in order to cover their...

Closing Futures Prices

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

More Things to Keep You Up at Night

This strong El Nino is offering some hope that winter will finally bring rain to severely drought-stricken central and northern California. However, that t...

Market Commentary

Markets were firm overnight and opened higher this morning. Brazil's real also finally rallied sharply higher, which impacted the market's view of U.S. soy...

Speaker Boehner to Retire from Congress Halfway Through Term

The move comes in response to growing antipathy from the conservative faction of the House Republican caucus, which demanded a new vote, plebiscite style,...

Closing Futures Prices

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

Transgenic Cheese; Organic Control; Hyper; Leverage

Antoine Branca of L'Universite Paris-Sud has revealed that France's Roquefort cheese, a source of national pride, gets its blue veins because the gene...

Indian Subcontinent Regional Analysis

The government of India (GOI) has raised the import duty on vegetable oils in order to help domestic farmers obtain a slightly better value for their oilse...

Closing Futures Prices

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

Cattle Prices; Bullish Butter; Broiler Outlook

USDA's Cattle on Feed report revealed an unexpected number of feeder cattle placements in August. Retail beef demand is also being impacted by changes in p...

Market Commentary

Wheat and corn futures fell today with perhaps the most pertinent reason being that they were higher yesterday. It may be that the current state of the mar...

Oilseed Highlights

Reports out of Brazil indicate farmers' sales of new crop soybeans this year far exceed those of a year ago because of their perceptions regarding the U.S...

Suffering; Unscientific; Trade; VW’d

The new U.S. Dietary Guidelines released earlier this year were roundly criticized by the agriculture sector and have now been attacked by more disinterest...

Show and Tell

Today just as Pope Francis leaves Washington, DC, Chinese President XI Jinping arrives for meetings with President Obama. One of the main purposes of his t...

Closing Futures Prices

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

Mercosur Regional Analysis

Brazil's exchange rate weakened this past week, and that could encourage an expansion in the country's soybean production to 100 MMT compared with last sea...

Trade Flows; ICS Panned

Trade officials in Brussels and Washington signaled the go-ahead to resume negotiations on a Transatlantic Trade and Investment Partnership (TTIP) agreemen...

Market Commentary

On the cusp of the U.S. corn and soybean harvests, grain and soy futures markets continue to move rather aimlessly in the absence of anything to drive pric...

Black Sea Regional Analysis

Ukraine exported 29,100 MT of flour during August 2015, a 60 percent increase compared with the same month a year ago, while the total volume for July and...

Thoughts for a Dull Tuesday in September

One sign of the current state of grain and soy markets is the lack of attention being paid to the next batch of reports from USDA/NASS that are to be relea...

Market Commentary

Grain and soy futures closed lower, giving back most or all of yesterday's gains. Soybeans led the way down as the market responded to perceptions of a hug...

Senate Passes Three-in-One Reauthorization Bill

The Senate last night passed three agricultural-related reauthorization bills under one title, the Agricultural Reauthorization Act. Included were the U.S...

Oilseed Highlights

While current depressed soybean prices may cause many farmers to once again store a sizable share of their soybeans after harvest  in hope of better p...

TPP Endgame; Meat Tactics; SDGs; Energy

The United Nations is expected to adopt 17 "Sustainable Development Goals" (SDGs) at next week's 70th Session of the General Assembly. Included is the goal...

Middle East and Mediterranean Regional Analysis

The latest USDA/GAIN report on Algerian grains is estimating a rise in local wheat production from 1.9 MMT in 2014/15 to 2.7 MMT in 2015/16. However, this...

Closing Futures Prices

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

The Pervasive Bearish Attitude

The world is still super bearish regarding nearly everything related to commodities with many now creating more reasons why prices will never go back up. T...

Closing Futures Prices

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

What China is Saying Makes Economic Sense

Chinese Premier Li Keqiang spoke at a seminar of senior government officials last week, urging state-owned firms to innovate, improve efficiency, focus on...

Market Commentary

Markets were steady to a bit lower for most of the Sunday evening session. They then started a rally with this morning's opening that was sustained through...

Weather Wins; Federalism

For historical reasons, delineating federalism - the role and powers of states versus the national government in the U.S. - can be confusing, and there are...

Southeast Europe Regional Analysis

The market in Bulgaria and Romania remains quiet as farmers refuse to sell wheat at  current market levels that are about $20/MT below their target. M...

China In-Country Analysis

The state's new temporary purchase and reserve polices for corn were released last week, which together with another factor should drive up Chinese process...

Senate Ag Committee Dealing with Nutrition Controversy AGAIN

The Healthy, Hunger-Free Kids Act (HHKA) expires 30 September 2015. While another extension is a distinct possibility, more controversy is a given. During...

Closing Futures Prices

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

Indian Subcontinent Regional Analysis

The ongoing rise in the cost of inputs, especially for corn and soymeal, is especially impacting India's poultry and starch sectors, which are both current...

Comments from Argentina

With a presidential election looming next month, Argentine farmers are facing difficult decisions in light of the current economic situation as well as a p...

GMO Reorder; Miscellaneous; Media Mutters

An Australian court has issued a decision regarding an organic farmer's charge against a neighboring GMO producer's  cultivation practices. GMO Reorde...

Market Commentary

There was heavy selling pressure across the soy complex today. Much of that was based on the assumption that there will be some hedge selling ahead of the...

Glyphosate; Trade Policy; GMO Labeling

In Geneva, the U.S. proposed a standstill commitment on agricultural market price supports and input subsidies as a small package deliverable at the upcomi...

Market Commentary

Soybeans futures were comparatively strong today with prices trading back and forth around unchanged before light commercial hedge pressure took prices low...

FSA Acreage Data Clouds Supply/Demand Outlook

Today's FAS data showing large prevented planting for all three crops adds more confusion than clarity to the issue of how much acreage was actually plante...

Cattle Swine Outlook

USDA will release the monthly Cattle on Feed report tomorrow. Industry expectations are for a number that confirms the lower marketings in August with the...

Closing Futures Prices

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

Some Thoughts about U.S. Agriculture

There is still plenty of antipathy toward big agriculture on the part of self-styed watchdogs for consumers and producers of foodstuffs, but that sector no...

Oilseed Highlights

While an announcement is expected next week regarding additional purchases of U.S. soybeans by China, the unknown factor is when the stocks will actually b...

Market Commentary

Current chart patterns could encourage technical traders to test the wheat, corn and soy contracts for additional price weakness during the remainder of th...

Closing Futures Prices

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

Mercosur Regional Analysis

There was a 20-cent decline in Argentine corn premiums during the past week as they moved down from the high 40s to the high 20s. This price drop is an eff...

Black Sea Regional Analysis

A Russian Grain Union official has indicated that the country's grain exports in September may reach 4.7 MMT, a record amount for that month, with the MY 2...

RFS Clouds; Food Abuses

The real flaw in the Clean Air Act's Renewable Fuel Standard (RFS) is mandating particular volumes of fuel use each year rather than specifying a shar...

Price Analysis and Trade Ideas

The means to successfully trade in a repetitive manner is dependent upon the ability to correctly anticipate market actions as well as having a predefined...

Ethanol Back in Washington Spotlight

Ethanol is once again a hotly debated issue in Washington as the sector awaits the EPA's final 2014, 2015 and 2016 Required Volume Obligations (RVOs). Sinc...

Closing Futures Prices

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

Oilseed Highlights

The EU has decided to extend its anti-dumping duties on U.S. biodiesel through 2020. In response, the National Biodiesel Board (NBB) condemned this move an...

Middle East and Mediterranean Regional Analysis

The Egyptian government announced that the new bread allocation program has cut subsidy costs by 6 billion Egyptian pounds ($470 million). The supply minis...

Mission Creep; Begetting; Economic Policy

Rich countries see few success stories from specific development assistance initiatives, while many developing nations view foreign aid as often ill-prescr...

Market Commentary

Today's price action in grain futures contracts implied that the upward momentum of late is temporarily out of steam. Meanwhile, even though palm oil price...

Closing Futures Prices

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

China In-Country Analysis

Following China's annual Victory Day celebration on 3 September, downstream demand from the feed sector increased. That caused the country's estimated soym...

Who Cares What the Fed Does?

This Thursday is when that the Federal Reserve's Board of Governors meets next to determine whether or not it will raise interest rates. However, market fu...

A Different El Nino Worry?

There are reports now emerging from some weather experts about how the real effect from this year's record El Nino might not occur until the summer of 2016...

Subsidies; Bee Sting; Poison; Holocaust

One does not usually get to see two federal agencies in a public dispute, but U.S. EPA's proposed restriction on 76 pesticide ingredients around pollinator...

Southeast Europe Regional Analysis

Assuming the latest EU soft wheat crop forecasts are correct and also a 2 MMT increase in domestic feed wheat consumption, a minimum of 30 MMT will need to...

Market Commentary

Markets opened with some strength Sunday evening. That faded near this morning's close, but today's markets opened firm again with soybeans and wheat leadi...

Appropriations Outlook

For the first time since 2009 (FY 2010), Congress actually passed a budget resolution this year. It sets the broad outline of authorized mandatory and appr...

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...

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...

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...

Closing Futures Prices

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

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

Closing Futures Prices

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

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...

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...

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...

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...

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...

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...

Closing Futures Prices

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

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...

Closing Futures Prices

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

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...

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...

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...

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...

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...

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...

Closing Futures Prices

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

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...

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...

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...

Closing Futures Prices

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

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...

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...

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...

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...

Closing Futures Prices

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

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...

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...

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...

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...

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...

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...

Closing Futures Prices

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

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...

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...

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...

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'...

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...

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...

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...

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...

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...

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...

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...

Closing Futures Prices

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

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...

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...

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...

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...

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...

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...

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...

Closing Futures Prices

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

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...

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...

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...

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...

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...

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"...

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)...

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...

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...

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...

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...

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...

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...

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...

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,...

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...

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...

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...

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...

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...

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...

Closing Futures Prices

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

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...

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...

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...

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...

Closing Futures Prices

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

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...

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...

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...

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...

Closing Futures Prices

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

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...

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...

Closing Futures Prices

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

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

Closing Futures Prices

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

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...

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...

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...

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...

Closing Futures Prices

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

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...

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...

Closing Futures Prices

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

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...

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

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...

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...

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...

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...

Closing Futures Prices

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

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...

Closing Futures Prices

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

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

Closing Futures Prices

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

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...

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...

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...

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...

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...

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...

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...

Closing Futures Prices

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

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...

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...

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...

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...

Closing Futures Prices

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

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

"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...

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...

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...

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...

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...

Closing Futures Prices

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

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...

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...

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...

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)...

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...

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...

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...

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...

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...

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...

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...

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...

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,...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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. ...

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...

Closing Futures Prices

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

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...

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...

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...

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...

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...

Closing Futures Prices

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

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...

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...

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...

Closing Futures Prices

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

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...

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...

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...

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...

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...

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...

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...

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...

Closing Futures Prices

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

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...

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...

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...

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...

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...

Closing Futures Prices

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

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...

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...

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...

“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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

Closing Futures Prices

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

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...

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...

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...

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...

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...

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...

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,...

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