World Perspectives
feed-grains soy-oilseeds wheat

Early Projections for 2019 Crop Returns Are Dismal

Big Iron, one of the largest farm shows in the country, was held this week in Fargo, ND. There is always a large seminar held for farmers during this show, which covers topics such as market outlook, marketing strategies, updates on the progress of the farm bill, etc. Also included this year was a presentation by a regional farm business management group on projected farm cash flow for 2019. These projections were based on current new crop cash prices for corn, soybeans and wheat in the Red River Valley of the northern Plains. As would be expected with the collapse in those prices, the projections are quite dismal. The table below shows the group’s mid-range yield and land cost estimates. These production costs are bare returns per...

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Black Sea Regional Analysis

Russian Grain Markets: 10-14 June 2019 Export prices for 2019 wheat (12.5 percent protein content) remained within $196-198/MT FOB Black Sea, and the average purchase price was RUB 10,500/MT CPT-port Black Sea. Meanwhile, the average export price for 2019 feed barley dropped to $170/MT FOB Blac...

USMCA Codification; Mitigating the Mitigation; Expanding the Conflict

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feed-grains soy-oilseeds wheat

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Grain and soy complex futures were mostly lower overnight with the corn market’s recent support diminishing. Soybeans were choppy with headlines about a potential Trump/Xi meeting being balanced against the overall bearishness of soybean fundamentals. Overall, the market was characterized...

wheat feed-grains soy-oilseeds

Black Sea Regional Analysis

Russian Grain Markets: 10-14 June 2019 Export prices for 2019 wheat (12.5 percent protein content) remained within $196-198/MT FOB Black Sea, and the average purchase price was RUB 10,500/MT CPT-port Black Sea. Meanwhile, the average export price for 2019 feed barley dropped to $170/MT FOB Blac...

USMCA Codification; Mitigating the Mitigation; Expanding the Conflict

USMCA Codification What seemed unlikely just a few weeks ago now looks like a growing possibility – U.S. congressional passage of the USMCA. USTR Robert Lighthizer told members of Congress that he will do whatever it takes to mollify their concerns. The U.S. Chamber of Commerce says it no...

feed-grains soy-oilseeds wheat

Market Commentary

Grain and soy complex futures were mostly lower overnight with the corn market’s recent support diminishing. Soybeans were choppy with headlines about a potential Trump/Xi meeting being balanced against the overall bearishness of soybean fundamentals. Overall, the market was characterized...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 19 Corn closed at $4.41/bushel, down $0.0875 from yesterday's close.  Jul 19 Wheat closed at $5.2225/bushel, down $0.0925 from yesterday's close.  Jul 19 Soybeans closed at $9.0325/bushel, down $0.1025 from yesterday's close.  Jul 19 Soymeal closed at $316.9/short ton, down $...

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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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