Australia
WASDE Wheat
Wheat: USDA’s March estimate is that U.S. ending stocks are increased 673 million bushels and are 18 percent higher than last year. The season-average U.S. farm price is reduced $0.05 per bushel to $7.15. The global wheat ending stocks are lowered 0.6 million tons to 258.8 million,...
WASDE Wheat
USDA reduced the 2023/24 season-average U.S. farm price of wheat by $0.10 lower to $7.20 per bushel. The global wheat outlook for 2023/24 is for larger ending stocks compared with last month. Global supplies are raised 3.6 million tons to 1,056.5 million. Increased stocks for Russia, Ukraine, a...
Market Commentary: Corn Posts Bullish Reversal; Wheat, Hogs Follow Through on Reversals
Grains were once again the upside leader at the CBOT on Wednesday with wheat following through on Tuesday’s reversal in KCBT futures and the large gains in the CBOT market. On Wednesday, however, the corn market joined in on the rally and the March contract posted a bullish reversal on it...
WASDE Wheat
Wheat: USDA’s March estimate is that U.S. ending stocks are increased 673 million bushels and are 18 percent higher than last year. The season-average U.S. farm price is reduced $0.05 per bushel to $7.15. The global wheat ending stocks are lowered 0.6 million tons to 258.8 million,...
WASDE Wheat
USDA reduced the 2023/24 season-average U.S. farm price of wheat by $0.10 lower to $7.20 per bushel. The global wheat outlook for 2023/24 is for larger ending stocks compared with last month. Global supplies are raised 3.6 million tons to 1,056.5 million. Increased stocks for Russia, Ukraine, a...
Market Commentary: Corn Posts Bullish Reversal; Wheat, Hogs Follow Through on Reversals
Grains were once again the upside leader at the CBOT on Wednesday with wheat following through on Tuesday’s reversal in KCBT futures and the large gains in the CBOT market. On Wednesday, however, the corn market joined in on the rally and the March contract posted a bullish reversal on it...
WASDE Wheat
Wheat: USDA’s outlook for 2023/24 is for higher U.S. ending stocks by 14 million bushels to 684 million. The projected 2023/24 season-average U.S. farm price is lowered $0.10 per bushel to $7.20. The global wheat outlook for 2023/24 is for larger ending stocks, raised 0.6 million, to tons...
Asia
FOB Prices and Freight Rate App (Updated 17 April)
Ocean Freight Comments - 12 April 2024 By Matt Herrington Ample vessel availability and weak cargo demand meant that dry-bulk freight markets struggled again this week with rates softening across the board. Weak coal demand, particularly from China, remains the primary culprit of weaker markets...
Interactive Ocean Freight Rates (Updated 17 April)
Ocean Freight Comments - 12 April 2024 By Matt Herrington Ample vessel availability and weak cargo demand meant that dry-bulk freight markets struggled again this week with rates softening across the board. Weak coal demand, particularly from China, remains the primary culprit of weaker markets...
Evolving Markets
Anyone knowledgeable about the complexity of animal agriculture, and the general public’s weariness about the husbandry and slaughter processes knows that the future is cultivated or lab-grown meat. It is the reason why some of the largest and early investors in this technology have been...
FOB Prices and Freight Rate App (Updated 17 April)
Ocean Freight Comments - 12 April 2024 By Matt Herrington Ample vessel availability and weak cargo demand meant that dry-bulk freight markets struggled again this week with rates softening across the board. Weak coal demand, particularly from China, remains the primary culprit of weaker markets...
Interactive Ocean Freight Rates (Updated 17 April)
Ocean Freight Comments - 12 April 2024 By Matt Herrington Ample vessel availability and weak cargo demand meant that dry-bulk freight markets struggled again this week with rates softening across the board. Weak coal demand, particularly from China, remains the primary culprit of weaker markets...
Evolving Markets
Anyone knowledgeable about the complexity of animal agriculture, and the general public’s weariness about the husbandry and slaughter processes knows that the future is cultivated or lab-grown meat. It is the reason why some of the largest and early investors in this technology have been...
Japan Boosts Corn and Protein
Japan’s population is declining by a half percent per year and will be 2 million smaller this year than in 2020. Nearly a third of the population is over 65 years of age, adding to the lower food demand factors. Yet the latest Global Agricultural Information Network report from the Foreig...
Black Sea
FOB Prices and Freight Rate App (Updated 17 April)
Ocean Freight Comments - 12 April 2024 By Matt Herrington Ample vessel availability and weak cargo demand meant that dry-bulk freight markets struggled again this week with rates softening across the board. Weak coal demand, particularly from China, remains the primary culprit of weaker markets...
Interactive Ocean Freight Rates (Updated 17 April)
Ocean Freight Comments - 12 April 2024 By Matt Herrington Ample vessel availability and weak cargo demand meant that dry-bulk freight markets struggled again this week with rates softening across the board. Weak coal demand, particularly from China, remains the primary culprit of weaker markets...
Black Sea Regional Analysis
Russian Grain Markets: 8–12 April 2024 During the first week of April, the Russian domestic grain market remained quite volatile but predominantly stable and bearish. The exception was milling wheat going for export which triggered price improvements in the ports against a weaker RUB and...
FOB Prices and Freight Rate App (Updated 17 April)
Ocean Freight Comments - 12 April 2024 By Matt Herrington Ample vessel availability and weak cargo demand meant that dry-bulk freight markets struggled again this week with rates softening across the board. Weak coal demand, particularly from China, remains the primary culprit of weaker markets...
Interactive Ocean Freight Rates (Updated 17 April)
Ocean Freight Comments - 12 April 2024 By Matt Herrington Ample vessel availability and weak cargo demand meant that dry-bulk freight markets struggled again this week with rates softening across the board. Weak coal demand, particularly from China, remains the primary culprit of weaker markets...
Black Sea Regional Analysis
Russian Grain Markets: 8–12 April 2024 During the first week of April, the Russian domestic grain market remained quite volatile but predominantly stable and bearish. The exception was milling wheat going for export which triggered price improvements in the ports against a weaker RUB and...
WASDE Corn
USDA increased the U.S. corn use for ethanol and feed – which reduced ending stocks 50 million bushels to 2.1 billion. The season-average farm price is lowered 5 cents to $4.70 per bushel. Global corn ending stocks are estimated to be 318.3 million tons, are down 1.4 million from last mon...
China
Mercosur Regional Analysis
Corn Estimates of Argentina’s corn harvest continue to decrease, mainly due to the impact of Spiroplasma bacteria. The Rosario Grain Exchange lowered its estimate from 57 to 50.5 MMT, while the Buenos Aires Grain Exchange revised their’s from 52 to 49.5 MMT, marking the second conse...
WASDE Soybeans
USDA increased U.S. soybean ending stocks for 2023/24 by 25 million bushels to 340 million. The U.S. season-average soybean price for 2023/24 is forecast at $12.55 per bushel, down 10 cents. Soybean meal and oil prices are unchanged at $380 per short ton and 49 cents per pound, respectively. Gl...
WASDE Corn
USDA increased the U.S. corn use for ethanol and feed – which reduced ending stocks 50 million bushels to 2.1 billion. The season-average farm price is lowered 5 cents to $4.70 per bushel. Global corn ending stocks are estimated to be 318.3 million tons, are down 1.4 million from last mon...
Mercosur Regional Analysis
Corn Estimates of Argentina’s corn harvest continue to decrease, mainly due to the impact of Spiroplasma bacteria. The Rosario Grain Exchange lowered its estimate from 57 to 50.5 MMT, while the Buenos Aires Grain Exchange revised their’s from 52 to 49.5 MMT, marking the second conse...
WASDE Soybeans
USDA increased U.S. soybean ending stocks for 2023/24 by 25 million bushels to 340 million. The U.S. season-average soybean price for 2023/24 is forecast at $12.55 per bushel, down 10 cents. Soybean meal and oil prices are unchanged at $380 per short ton and 49 cents per pound, respectively. Gl...
WASDE Corn
USDA increased the U.S. corn use for ethanol and feed – which reduced ending stocks 50 million bushels to 2.1 billion. The season-average farm price is lowered 5 cents to $4.70 per bushel. Global corn ending stocks are estimated to be 318.3 million tons, are down 1.4 million from last mon...
WASDE Wheat
USDA raised U.S. wheat ending stocks for 2023/24 by 25 million bushels to 698 million, 22 percent above last year. The season-average farm price is reduced $0.05 per bushel to $7.10. The 2023/24 global wheat outlook this month is for smaller ending stocks, down 0.6 million metric tons to...
Europe
FOB Prices and Freight Rate App (Updated 17 April)
Ocean Freight Comments - 12 April 2024 By Matt Herrington Ample vessel availability and weak cargo demand meant that dry-bulk freight markets struggled again this week with rates softening across the board. Weak coal demand, particularly from China, remains the primary culprit of weaker markets...
Interactive Ocean Freight Rates (Updated 17 April)
Ocean Freight Comments - 12 April 2024 By Matt Herrington Ample vessel availability and weak cargo demand meant that dry-bulk freight markets struggled again this week with rates softening across the board. Weak coal demand, particularly from China, remains the primary culprit of weaker markets...
WASDE Soybeans
USDA increased U.S. soybean ending stocks for 2023/24 by 25 million bushels to 340 million. The U.S. season-average soybean price for 2023/24 is forecast at $12.55 per bushel, down 10 cents. Soybean meal and oil prices are unchanged at $380 per short ton and 49 cents per pound, respectively. Gl...
FOB Prices and Freight Rate App (Updated 17 April)
Ocean Freight Comments - 12 April 2024 By Matt Herrington Ample vessel availability and weak cargo demand meant that dry-bulk freight markets struggled again this week with rates softening across the board. Weak coal demand, particularly from China, remains the primary culprit of weaker markets...
Interactive Ocean Freight Rates (Updated 17 April)
Ocean Freight Comments - 12 April 2024 By Matt Herrington Ample vessel availability and weak cargo demand meant that dry-bulk freight markets struggled again this week with rates softening across the board. Weak coal demand, particularly from China, remains the primary culprit of weaker markets...
WASDE Soybeans
USDA increased U.S. soybean ending stocks for 2023/24 by 25 million bushels to 340 million. The U.S. season-average soybean price for 2023/24 is forecast at $12.55 per bushel, down 10 cents. Soybean meal and oil prices are unchanged at $380 per short ton and 49 cents per pound, respectively. Gl...
WASDE Wheat
USDA raised U.S. wheat ending stocks for 2023/24 by 25 million bushels to 698 million, 22 percent above last year. The season-average farm price is reduced $0.05 per bushel to $7.10. The 2023/24 global wheat outlook this month is for smaller ending stocks, down 0.6 million metric tons to...
India
WASDE Soybeans
USDA increased U.S. soybean ending stocks for 2023/24 by 25 million bushels to 340 million. The U.S. season-average soybean price for 2023/24 is forecast at $12.55 per bushel, down 10 cents. Soybean meal and oil prices are unchanged at $380 per short ton and 49 cents per pound, respectively. Gl...
Market Commentary: Grains Fall After Bullish USDA Reports; Panic Not Finished in Cattle Markets
The CBOT was mostly red on Monday with traders seeing little reason to buy the soy complex after a benign and semi-bearish Grain Stocks and acreage reports for soybeans. Further, they saw little reason to keep buying corn and wheat amid large on-farm stocks and amply supplied global balance she...
Duck Data
The USDA attache’s office in New Delhi reports that India issued revised import rules last month for premium duck meat. The tariff was reduced from 30 percent to 5 percent, and standards were announced for selling the meat to at least three-star hotels and restaurants approved by the gove...
WASDE Soybeans
USDA increased U.S. soybean ending stocks for 2023/24 by 25 million bushels to 340 million. The U.S. season-average soybean price for 2023/24 is forecast at $12.55 per bushel, down 10 cents. Soybean meal and oil prices are unchanged at $380 per short ton and 49 cents per pound, respectively. Gl...
Market Commentary: Grains Fall After Bullish USDA Reports; Panic Not Finished in Cattle Markets
The CBOT was mostly red on Monday with traders seeing little reason to buy the soy complex after a benign and semi-bearish Grain Stocks and acreage reports for soybeans. Further, they saw little reason to keep buying corn and wheat amid large on-farm stocks and amply supplied global balance she...
Duck Data
The USDA attache’s office in New Delhi reports that India issued revised import rules last month for premium duck meat. The tariff was reduced from 30 percent to 5 percent, and standards were announced for selling the meat to at least three-star hotels and restaurants approved by the gove...
WASDE Soybeans
Soybeans: USDA’s March estimate is that U.S. soybean supply and use for 2023/24 is unchanged from February. The U.S. season-average soybean price and the soybean meal price forecasts are unchanged for 2023/24. The soybean oil price is reduced 2 cents to 49 cents per pound. Glo...
Middle East & Africa
FOB Prices and Freight Rate App (Updated 17 April)
Ocean Freight Comments - 12 April 2024 By Matt Herrington Ample vessel availability and weak cargo demand meant that dry-bulk freight markets struggled again this week with rates softening across the board. Weak coal demand, particularly from China, remains the primary culprit of weaker markets...
Interactive Ocean Freight Rates (Updated 17 April)
Ocean Freight Comments - 12 April 2024 By Matt Herrington Ample vessel availability and weak cargo demand meant that dry-bulk freight markets struggled again this week with rates softening across the board. Weak coal demand, particularly from China, remains the primary culprit of weaker markets...
Middle East, Mediterranean and Africa Regional Analysis
MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Regional Updates Due to the Ramadan Eid El Fitr holidays ending, there is no grain news or information from the MENA region this week. SOUTHERN/EASTERN/WESTERN AFRICA Ghana’s government faces serious criticism f...
FOB Prices and Freight Rate App (Updated 17 April)
Ocean Freight Comments - 12 April 2024 By Matt Herrington Ample vessel availability and weak cargo demand meant that dry-bulk freight markets struggled again this week with rates softening across the board. Weak coal demand, particularly from China, remains the primary culprit of weaker markets...
Interactive Ocean Freight Rates (Updated 17 April)
Ocean Freight Comments - 12 April 2024 By Matt Herrington Ample vessel availability and weak cargo demand meant that dry-bulk freight markets struggled again this week with rates softening across the board. Weak coal demand, particularly from China, remains the primary culprit of weaker markets...
Middle East, Mediterranean and Africa Regional Analysis
MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Regional Updates Due to the Ramadan Eid El Fitr holidays ending, there is no grain news or information from the MENA region this week. SOUTHERN/EASTERN/WESTERN AFRICA Ghana’s government faces serious criticism f...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Muslim countries will celebrate the Eid-al-Fitr period as Ramadan ends this week. Most countries will see the holy month of Ramadan end on 9 April or 10 with the Eid holidays for several days after. Businesses, ba...
North America
Export Sales
Export Sales and Shipments for April 5-11, 2024 Wheat: Net sales reductions of 93,600 metric tons (MT) for 2023/2024 were down noticeably from the previous week and from the prior 4-week average. Export shipments of 487,800 MT were down 22 percent from the previous week, but unchanged fro...
Market Commentary: Looking for Market Movers
The bearishness continues as South America crops loom and Northern Hemisphere weather is stable. The impending flood of Argentine soymeal and soyoil onto the market sent the May soyoil contract to a new low. There was nothing in today’s weekly USDA Export Sales report to alter the...
Transatlantic GI’ing Consumers; Political Expediency, Oh My
Transatlantic GI’ing Consumers Politicians on both sides of the Atlantic protest big business and their sacrilegious capitalism. Yet sometimes it is government screwing the consumer to boost private profits. Parmigiano Reggiano was a prized and premium priced cheese before obtaining the E...
Export Sales
Export Sales and Shipments for April 5-11, 2024 Wheat: Net sales reductions of 93,600 metric tons (MT) for 2023/2024 were down noticeably from the previous week and from the prior 4-week average. Export shipments of 487,800 MT were down 22 percent from the previous week, but unchanged fro...
Market Commentary: Looking for Market Movers
The bearishness continues as South America crops loom and Northern Hemisphere weather is stable. The impending flood of Argentine soymeal and soyoil onto the market sent the May soyoil contract to a new low. There was nothing in today’s weekly USDA Export Sales report to alter the...
Transatlantic GI’ing Consumers; Political Expediency, Oh My
Transatlantic GI’ing Consumers Politicians on both sides of the Atlantic protest big business and their sacrilegious capitalism. Yet sometimes it is government screwing the consumer to boost private profits. Parmigiano Reggiano was a prized and premium priced cheese before obtaining the E...
Summary of Futures
May 24 Corn closed at $4.2675/bushel, down $0.035 from yesterday's close. Jul 24 Wheat closed at $5.53/bushel, up $0.0075 from yesterday's close. May 24 Soybeans closed at $11.3425/bushel, down $0.1525 from yesterday's close. May 24 Soymeal closed at $338/short ton, down $0.7...
South America
Market Commentary: Looking for Market Movers
The bearishness continues as South America crops loom and Northern Hemisphere weather is stable. The impending flood of Argentine soymeal and soyoil onto the market sent the May soyoil contract to a new low. There was nothing in today’s weekly USDA Export Sales report to alter the...
FOB Prices and Freight Rate App (Updated 17 April)
Ocean Freight Comments - 12 April 2024 By Matt Herrington Ample vessel availability and weak cargo demand meant that dry-bulk freight markets struggled again this week with rates softening across the board. Weak coal demand, particularly from China, remains the primary culprit of weaker markets...
Interactive Ocean Freight Rates (Updated 17 April)
Ocean Freight Comments - 12 April 2024 By Matt Herrington Ample vessel availability and weak cargo demand meant that dry-bulk freight markets struggled again this week with rates softening across the board. Weak coal demand, particularly from China, remains the primary culprit of weaker markets...
Market Commentary: Looking for Market Movers
The bearishness continues as South America crops loom and Northern Hemisphere weather is stable. The impending flood of Argentine soymeal and soyoil onto the market sent the May soyoil contract to a new low. There was nothing in today’s weekly USDA Export Sales report to alter the...
FOB Prices and Freight Rate App (Updated 17 April)
Ocean Freight Comments - 12 April 2024 By Matt Herrington Ample vessel availability and weak cargo demand meant that dry-bulk freight markets struggled again this week with rates softening across the board. Weak coal demand, particularly from China, remains the primary culprit of weaker markets...
Interactive Ocean Freight Rates (Updated 17 April)
Ocean Freight Comments - 12 April 2024 By Matt Herrington Ample vessel availability and weak cargo demand meant that dry-bulk freight markets struggled again this week with rates softening across the board. Weak coal demand, particularly from China, remains the primary culprit of weaker markets...
Market Commentary: Corn, Soybeans Fall on Planting Progress, Weather; NOPA Report Sinks Soyoil
The CBOT was mostly lower on Tuesday with broadly favorable weather in the U.S. and South America allowing timely planting and harvesting, respectively, of summer crops. Monday’s Crop Progress report from USDA indicated that U.S. farmers are making solid gains seeding the 2024 crops with...
Russia
Black Sea Regional Analysis
Russian Grain Markets: 8–12 April 2024 During the first week of April, the Russian domestic grain market remained quite volatile but predominantly stable and bearish. The exception was milling wheat going for export which triggered price improvements in the ports against a weaker RUB and...
WASDE Wheat
USDA raised U.S. wheat ending stocks for 2023/24 by 25 million bushels to 698 million, 22 percent above last year. The season-average farm price is reduced $0.05 per bushel to $7.10. The 2023/24 global wheat outlook this month is for smaller ending stocks, down 0.6 million metric tons to...
Black Sea Regional Analysis
Russian Grain Markets: 1–5 April 2024 The government has realized that taxing exportable wheat and barley at a high rate was not a good idea, especially with wheat stocks pushing the roof. Possibly the news about softer duties will improve prices for small grains. Corn duty is symbolic an...
Black Sea Regional Analysis
Russian Grain Markets: 8–12 April 2024 During the first week of April, the Russian domestic grain market remained quite volatile but predominantly stable and bearish. The exception was milling wheat going for export which triggered price improvements in the ports against a weaker RUB and...
WASDE Wheat
USDA raised U.S. wheat ending stocks for 2023/24 by 25 million bushels to 698 million, 22 percent above last year. The season-average farm price is reduced $0.05 per bushel to $7.10. The 2023/24 global wheat outlook this month is for smaller ending stocks, down 0.6 million metric tons to...
Black Sea Regional Analysis
Russian Grain Markets: 1–5 April 2024 The government has realized that taxing exportable wheat and barley at a high rate was not a good idea, especially with wheat stocks pushing the roof. Possibly the news about softer duties will improve prices for small grains. Corn duty is symbolic an...
Market Commentary: Wheat and Cattle Stabilize
Overall trading volume today was modest, even low for corn, but robust for soymeal. One market influence is wetter conditions in Brazil, but the more notable developments are in beef and wheat. Livestock products rebounded today as fears earlier in the week about bird flu dampening demand appea...