World Perspectives

Recent Australia Analysis

feed-grains soy-oilseeds

Summer Weather?

Everyone wants to know what the U.S. growing season will be like in 2018. Analysts with a bearish bent are projecting record corn and soybean yields before the crops have been planted. Those with a bullish bent are saying severe weather and yield problems aren’t needed to reduce ending su...

UnSNAPped and Prop 2; CRP Crossover; Sorghum Numbers

UnSNAPped and Prop 2 The U.S. House Agriculture Committee today approved H.R. 2, the Agriculture and Nutrition Act of 2018, but it passed along party lines and faces tougher challenges ahead. There was little discussion about Title I commodity programs, and most of the debate involved committee...

feed-grains wheat soy-oilseeds

Barley Supplies Will Be Smallest in Over 25 Years

Market commentaries rarely discuss any crops other than corn, wheat or soybeans. This is because they have futures markets, and that means speculators. Another reason is that the production volumes of the minor crops are very small relative to the “big three.” These crops include ba...

wheat

WASDE Wheat

USDA estimates that world wheat supplies in 2017/18 will be nearly 3.0 million tons larger as production is raised to a new record of 759.8 million - primarily due to Morocco’s higher production estimate as it recovered from a severe drought in 2016/17. 2017/18 U.S. wheat ending stoc...

softs soy-oilseeds feed-grains

India Subcontinent Regional Analysis

  Record Sugar Production Expected as Prices Tumble and Arrears Mount India’s sugar production for 2017/18 (October-September) is now expected to total 30.3 MMT, up from the previous estimate of 29.5 MMT. The production cycle is coming to an end with output reaching a high of 28.18 M...

livestock

China Proposing Tariffs on U.S. Beef; NAFTA Deal Coming?; Record Red Meat; Changes in Beef Imports

China Proposing Tariffs on U.S. Beef China’s tariffs for U.S. pork products (see Ag Perspectives, 2 April 2018), which are in addition to existing duties, are probably one of its more strategic retaliatory strikes in the current trade dispute. Domestic hog and pork prices there are down m...

wheat feed-grains soy-oilseeds

Middle East, Mediterranean and Africa Regional Analysis

News Updates Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS The Oman Food Investment Holding Company (OFIC) is planning to invest $100 million in a facility that can produce 750,000 MT of soymeal and 175,000 MT of soyoil annually, which should be sufficient to cover 100 percent of Oman&rsq...

WTO Makeover; Taxing Success; Ring-Fence Skepticism

WTO Makeover There is reasonable concern that the Trump administration is blocking the appointment of appellant judges at the WTO as part of a goal to implode the current binding dispute settlement process. It would be Trumpian to believe that the U.S. would fare better by returning to the nego...

feed-grains soy-oilseeds wheat

Market Commentary

Overnight price action saw grain and soy prices continue the firmer trend set by the rebound from earlier losses late in Monday’s day session that was enough to maintain positive technical support. Soybeans and winter wheat were a few cents higher, and corn gained a fraction of a cent ove...

wheat

WASDE Wheat

U.S. wheat exports for 2017/18 are reduced 25 million bushels to 925 million, while ending stocks are raised by the same amount.  Exports are lowered on reduced price competitiveness in some international markets.  Hard red winter wheat and hard red spring wheat exports are reduced 15...

Planned Excess

Contrary to President Trump’s latest boast, trade wars are not good and not easy to win. U.S. agriculture now feels threatened by the effort to protect the American steel and aluminum sector. What is notable, though, is the similarity between food and steel. Production of both is deemed i...

livestock

Aussie Beef; U.S. Cattle; Moratorium on Iowa Livestock Sought

Aussie Beef Back on the Global Market Australia’s beef exports are making a comeback, up 19.7 percent last month over January 2017, and they could be back on trend to match a more normal five-year average. All five of Australia’s top markets imported more beef in January than a year...

feed-grains soy-oilseeds

Summer Weather?

Everyone wants to know what the U.S. growing season will be like in 2018. Analysts with a bearish bent are projecting record corn and soybean yields before the crops have been planted. Those with a bullish bent are saying severe weather and yield problems aren’t needed to reduce ending su...

UnSNAPped and Prop 2; CRP Crossover; Sorghum Numbers

UnSNAPped and Prop 2 The U.S. House Agriculture Committee today approved H.R. 2, the Agriculture and Nutrition Act of 2018, but it passed along party lines and faces tougher challenges ahead. There was little discussion about Title I commodity programs, and most of the debate involved committee...

feed-grains wheat soy-oilseeds

Barley Supplies Will Be Smallest in Over 25 Years

Market commentaries rarely discuss any crops other than corn, wheat or soybeans. This is because they have futures markets, and that means speculators. Another reason is that the production volumes of the minor crops are very small relative to the “big three.” These crops include ba...

wheat

WASDE Wheat

USDA estimates that world wheat supplies in 2017/18 will be nearly 3.0 million tons larger as production is raised to a new record of 759.8 million - primarily due to Morocco’s higher production estimate as it recovered from a severe drought in 2016/17. 2017/18 U.S. wheat ending stoc...

softs soy-oilseeds feed-grains

India Subcontinent Regional Analysis

  Record Sugar Production Expected as Prices Tumble and Arrears Mount India’s sugar production for 2017/18 (October-September) is now expected to total 30.3 MMT, up from the previous estimate of 29.5 MMT. The production cycle is coming to an end with output reaching a high of 28.18 M...

livestock

China Proposing Tariffs on U.S. Beef; NAFTA Deal Coming?; Record Red Meat; Changes in Beef Imports

China Proposing Tariffs on U.S. Beef China’s tariffs for U.S. pork products (see Ag Perspectives, 2 April 2018), which are in addition to existing duties, are probably one of its more strategic retaliatory strikes in the current trade dispute. Domestic hog and pork prices there are down m...

wheat feed-grains soy-oilseeds

Middle East, Mediterranean and Africa Regional Analysis

News Updates Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS The Oman Food Investment Holding Company (OFIC) is planning to invest $100 million in a facility that can produce 750,000 MT of soymeal and 175,000 MT of soyoil annually, which should be sufficient to cover 100 percent of Oman&rsq...

WTO Makeover; Taxing Success; Ring-Fence Skepticism

WTO Makeover There is reasonable concern that the Trump administration is blocking the appointment of appellant judges at the WTO as part of a goal to implode the current binding dispute settlement process. It would be Trumpian to believe that the U.S. would fare better by returning to the nego...

feed-grains soy-oilseeds wheat

Market Commentary

Overnight price action saw grain and soy prices continue the firmer trend set by the rebound from earlier losses late in Monday’s day session that was enough to maintain positive technical support. Soybeans and winter wheat were a few cents higher, and corn gained a fraction of a cent ove...

wheat

WASDE Wheat

U.S. wheat exports for 2017/18 are reduced 25 million bushels to 925 million, while ending stocks are raised by the same amount.  Exports are lowered on reduced price competitiveness in some international markets.  Hard red winter wheat and hard red spring wheat exports are reduced 15...

Planned Excess

Contrary to President Trump’s latest boast, trade wars are not good and not easy to win. U.S. agriculture now feels threatened by the effort to protect the American steel and aluminum sector. What is notable, though, is the similarity between food and steel. Production of both is deemed i...

livestock

Aussie Beef; U.S. Cattle; Moratorium on Iowa Livestock Sought

Aussie Beef Back on the Global Market Australia’s beef exports are making a comeback, up 19.7 percent last month over January 2017, and they could be back on trend to match a more normal five-year average. All five of Australia’s top markets imported more beef in January than a year...

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