World Perspectives
feed-grains soy-oilseeds wheat

Market Commentary: CBOT Rallies on Chinese Buying (again); Historic Soybean Spreads

The CBOT drifted lower overnight with corn and soybeans testing technical support. That weakness was short-lived in soybeans, however, as rumors of Chinese purchases helped the market firm heading into the morning’s opening bell. The day session corn, soybeans and wheat jump higher at the open with Chinese demand underpinning the move. Funds emerged as net buyers again and helped markets over technical resistance, which triggered buy-stops and additional long speculative activity. The markets ended higher for the day and soybean futures posted new contract highs. WPI sources say China has booked several (at least seven and possibly as many as 12) cargoes of U.S. soybeans for 2020/21 delivery. The purchases reportedly came on the over...

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Related Articles
feed-grains soy-oilseeds wheat

Summary of Futures

May 24 Corn closed at $4.2675/bushel, down $0.0575 from yesterday's close.  May 24 Wheat closed at $5.475/bushel, up $0.04 from yesterday's close.  May 24 Soybeans closed at $11.925/bushel, down $0.065 from yesterday's close.  May 24 Soymeal closed at $339/short ton, down $0.8 fr...

feed-grains soy-oilseeds wheat

Market Commentary: Acreage Outlooks Weaken Corn, Soy; Wheat Gains on Firmer Russian Offers

Trade at the CBOT was mostly lower heading into Thursday’s Grain Stocks and Prospective Plantings reports from the USDA, but wheat futures managed to find midday support and settle higher. Wheat’s strength came from another week of cautious gains in Russian FOB offers, which is seen...

BRICS Grain Exchange; EU Policy Foibles; Yen Implosion

BRICS Grain Exchange Russia is reportedly pushing other BRICS members to use the bloc as a grain exchange in competition with the West. The assertion is that these countries already control 42 percent of the grain trade. Add the new members like Egypt, Saudi Arabia, Iran and the UAE, plus other...

feed-grains soy-oilseeds wheat

Summary of Futures

May 24 Corn closed at $4.2675/bushel, down $0.0575 from yesterday's close.  May 24 Wheat closed at $5.475/bushel, up $0.04 from yesterday's close.  May 24 Soybeans closed at $11.925/bushel, down $0.065 from yesterday's close.  May 24 Soymeal closed at $339/short ton, down $0.8 fr...

feed-grains soy-oilseeds wheat

Market Commentary: Acreage Outlooks Weaken Corn, Soy; Wheat Gains on Firmer Russian Offers

Trade at the CBOT was mostly lower heading into Thursday’s Grain Stocks and Prospective Plantings reports from the USDA, but wheat futures managed to find midday support and settle higher. Wheat’s strength came from another week of cautious gains in Russian FOB offers, which is seen...

BRICS Grain Exchange; EU Policy Foibles; Yen Implosion

BRICS Grain Exchange Russia is reportedly pushing other BRICS members to use the bloc as a grain exchange in competition with the West. The assertion is that these countries already control 42 percent of the grain trade. Add the new members like Egypt, Saudi Arabia, Iran and the UAE, plus other...

livestock

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...

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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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