World Perspectives
feed-grains soy-oilseeds wheat

AM Outlook - Looking for Cover

GOOD MORNING, The rising soy complex on Thursday was led by meal, which rebounded on technical consideration and news that Argentina's largest meal exporter, Vicentin, was in financial distress and having payment restructuring issues.  This company is Argentina's number one exporter of soybean products and therefore, any loss in that location favors a gain in another, in this case the US.   The rally in meal set in motion a sharp sell-off in oilshare, as oil bulls liquidated against rising meal prices.   Traders seemed to be caught off guard, with estimated positions still showing the futures / options funds short 40K meal vs. a 60K long in soyoil.  Bean rallies are typically off the back of meal shortages, w...

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feed-grains soy-oilseeds wheat

AM Outlook - Priced to Sell

GOOD MORNING, Prices continued to work lower post beneficial crop progress numbers.  Rising domestic and international crop estimates for wheat, (Russia and Australia), pushed prices lower.  Egypt tendered for 60,000 mt of mill grade wheat for Sep 11-30 shipment. Large yield ideas for...

feed-grains soy-oilseeds wheat

Market Commentary: Commodity Collapse

The CBOT was sharply weaker for the second trading day in August. Continued excellent or improving spring crop conditions and private firm forecasts of record corn and soybean yields sparked widespread selling. Corn dipped to new contract lows – as did HRW wheat – while SRW wheat an...

Phase One Collateral Damage; Conditional Income Subsidies

Phase One Collateral Damage UC-Davis researchers Robert Feenstra and Chang Hong analyzed (NBER Working Paper No. 27383) the impact of the Phase One agreement on China’s agricultural imports and find that some U.S. allies should be very upset. Holding China’s imports roughly static,...

feed-grains soy-oilseeds wheat

AM Outlook - Priced to Sell

GOOD MORNING, Prices continued to work lower post beneficial crop progress numbers.  Rising domestic and international crop estimates for wheat, (Russia and Australia), pushed prices lower.  Egypt tendered for 60,000 mt of mill grade wheat for Sep 11-30 shipment. Large yield ideas for...

feed-grains soy-oilseeds wheat

Market Commentary: Commodity Collapse

The CBOT was sharply weaker for the second trading day in August. Continued excellent or improving spring crop conditions and private firm forecasts of record corn and soybean yields sparked widespread selling. Corn dipped to new contract lows – as did HRW wheat – while SRW wheat an...

Phase One Collateral Damage; Conditional Income Subsidies

Phase One Collateral Damage UC-Davis researchers Robert Feenstra and Chang Hong analyzed (NBER Working Paper No. 27383) the impact of the Phase One agreement on China’s agricultural imports and find that some U.S. allies should be very upset. Holding China’s imports roughly static,...

What is the Exit Strategy for Ad Hoc Farm Payments?

The 2018 farm bill was signed into law in December of that year and implementing rules were rolled out through 2019. The major crop programs, like ARC and PLC for example, saw participation elections and signups in the fall of 2019 and CRP general sign up began in December 2019. These and other...

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From WPI Consulting

Communicating importance of value-added products

Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.

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