Market Commentary: Awaiting New Inputs
It was a modest day in the pits with wheat in the green and corn and soybeans in the red. After yesterday’s profit-taking there was leveling out today ahead of the weekend as traders await more actionable factors early next week. A U.S. – China bilateral consultation scheduled for t...
Farm Spending: $7 Billion Down, $43 Billion to Go
According to the Monthly Treasury Statement issued by the Department of Treasury, USDA has spent about $149.53 billion so far this fiscal year. That means there is about $6 billion left in USDA’s regular budget checking account for the last two months of the fiscal year, and the CARES Act...
Bilateral Postponed; Seasonal Politics; Poll Results
Bilateral Postponed A planned consultation between China and the U.S. scheduled for tomorrow has been postponed, reportedly due to a scheduling conflict. The discussion was supposed to focus on the six-month status of the Phase One agreement, which has thus far failed to impress its American cr...
Crops Being Made
July is a critical month for corn and soybeans are made in August so short of freak events like last week’s derecho, this year’s crops are nearly past any troubles. Next week’s U.S. Midwest weather brings below normal temperatures and less precipitation, which is better than h...
Market Commentary: Day of Regrets
Yesterday’s bump in the market was because USDA’s WASDE report was not as bearish as feared. Today’s jump is harder to explain - it seems miscalculated. Some say it was based on the prevented planting acres data, but the World Agricultural Outlook Board would have had those nu...
Oilseed Highlights: U.S. Soy Export Sales; Highlights of WASDE for Soy
U.S. Soy Export Sales Highlights Today’s USDA export sales highlights confirmed the week ending 6 August was a fantastic one for exporters of U.S. soybeans and a good one for export sales of U.S. soymeal. The large sales and exports of soybeans of last week have been followed by additiona...
Livestock Round Up: COVID and Pork
Yesterday’s WASDE showed USDA’s red meat and broiler production forecast down slightly from last month’s forecasts with lower projected pork production offsetting increases in beef and broilers. Broiler production forecasts remain down the most from the pre-COVID March estimat...
Carou-Selled; Good for the Goose; Room for Green Ag; Glypho-phobia
Carou-Selled When carousel retaliation (periodically changing the products targeted for trade retaliation) was introduced in 2000, the goal was to increase the uncertainty and broaden the pain inflicted to increase the chance of compliance by the targeted country. This week the Trump Administra...
Thoughts from the August WASDE
Last week we asked the rhetorical question “how big is big” as it applies to the U.S. and world grain and soybean supply and demand estimates for 2019/20 and 2020/21. Yesterday, USDA and NASS provided their latest answers when the August WASDE was released. To summarize their answer...
Harris on Food; Seasonal Produce Hearing; Pick Your Partner; Idle or Convert; Truth to Power
Harris on Food U.S. Senator Kamala Harris (D-California) is Mr. Biden’s selection for vice president on his ticket and she is your garden variety Democrat when it comes to agriculture. She advocates for farmworkers, domestic food assistance and is a co-sponsor of the Green New Deal. Perha...
Relieving Food
With just about every human malady, someone is blaming a food or group of foods as the source of the disease. However, these assertions are merely associations and the true causes have been elusive. Now, the genetic work being carried out by organizations like CRI Genetics, 23andMe and Ancestor...
Market Commentary
The CBOT finished higher in the wake of a WASDE report that featured record large U.S. corn and soybean yields. The report was not quite as bearish as pre-report expectations suggested, with ending stocks figures for corn and soybeans remaining in-line with historic norms. Additional support ca...
Market Commentary: Awaiting New Inputs
It was a modest day in the pits with wheat in the green and corn and soybeans in the red. After yesterday’s profit-taking there was leveling out today ahead of the weekend as traders await more actionable factors early next week. A U.S. – China bilateral consultation scheduled for t...
Farm Spending: $7 Billion Down, $43 Billion to Go
According to the Monthly Treasury Statement issued by the Department of Treasury, USDA has spent about $149.53 billion so far this fiscal year. That means there is about $6 billion left in USDA’s regular budget checking account for the last two months of the fiscal year, and the CARES Act...
Bilateral Postponed; Seasonal Politics; Poll Results
Bilateral Postponed A planned consultation between China and the U.S. scheduled for tomorrow has been postponed, reportedly due to a scheduling conflict. The discussion was supposed to focus on the six-month status of the Phase One agreement, which has thus far failed to impress its American cr...
Crops Being Made
July is a critical month for corn and soybeans are made in August so short of freak events like last week’s derecho, this year’s crops are nearly past any troubles. Next week’s U.S. Midwest weather brings below normal temperatures and less precipitation, which is better than h...
Market Commentary: Day of Regrets
Yesterday’s bump in the market was because USDA’s WASDE report was not as bearish as feared. Today’s jump is harder to explain - it seems miscalculated. Some say it was based on the prevented planting acres data, but the World Agricultural Outlook Board would have had those nu...
Oilseed Highlights: U.S. Soy Export Sales; Highlights of WASDE for Soy
U.S. Soy Export Sales Highlights Today’s USDA export sales highlights confirmed the week ending 6 August was a fantastic one for exporters of U.S. soybeans and a good one for export sales of U.S. soymeal. The large sales and exports of soybeans of last week have been followed by additiona...
Livestock Round Up: COVID and Pork
Yesterday’s WASDE showed USDA’s red meat and broiler production forecast down slightly from last month’s forecasts with lower projected pork production offsetting increases in beef and broilers. Broiler production forecasts remain down the most from the pre-COVID March estimat...
Carou-Selled; Good for the Goose; Room for Green Ag; Glypho-phobia
Carou-Selled When carousel retaliation (periodically changing the products targeted for trade retaliation) was introduced in 2000, the goal was to increase the uncertainty and broaden the pain inflicted to increase the chance of compliance by the targeted country. This week the Trump Administra...
Thoughts from the August WASDE
Last week we asked the rhetorical question “how big is big” as it applies to the U.S. and world grain and soybean supply and demand estimates for 2019/20 and 2020/21. Yesterday, USDA and NASS provided their latest answers when the August WASDE was released. To summarize their answer...
Harris on Food; Seasonal Produce Hearing; Pick Your Partner; Idle or Convert; Truth to Power
Harris on Food U.S. Senator Kamala Harris (D-California) is Mr. Biden’s selection for vice president on his ticket and she is your garden variety Democrat when it comes to agriculture. She advocates for farmworkers, domestic food assistance and is a co-sponsor of the Green New Deal. Perha...
Relieving Food
With just about every human malady, someone is blaming a food or group of foods as the source of the disease. However, these assertions are merely associations and the true causes have been elusive. Now, the genetic work being carried out by organizations like CRI Genetics, 23andMe and Ancestor...
Market Commentary
The CBOT finished higher in the wake of a WASDE report that featured record large U.S. corn and soybean yields. The report was not quite as bearish as pre-report expectations suggested, with ending stocks figures for corn and soybeans remaining in-line with historic norms. Additional support ca...