Market Commentary
CBOT markets were sharply higher overnight after news of a pending U.S.-China trade deal. Soybeans posted an amazing 13½ cent overnight gain while corn finished the night session up 5½ cents. Wheat added 3-5 cents in similarly enthusiastic trade. The day session saw prices m...
Turnaround 2020
The actual agricultural purchases to be made by China next year remains unclear with officials in Beijing failing to confirm President Trump’s boast about huge purchases. There is a press account citing an unnamed Chinese official oddly saying that there will be more imports of American w...
Final Hours of Policy Flurry and Fury
Congress is hitting the home stretch and policy making is at a frenzied paced. Following is a recap and some thoughts on implications. At this point, there are few details available as there are many moving parts. It will be a long weekend for policymakers and their staffs, and many long hours...
Getting to $50 Billion
The draft agreement between Washington and Beijing reportedly calls for China to purchase $50 billion worth of agricultural products from the U.S. in 2020. That would be a 291 percent increase from 2019, or a 92 percent increase from the pre-war year of 2017. One would expect China to have adde...
Market Commentary
Markets were lower overnight, and the expectation was for more of the same when the sun rose but politics and fundamentals combined to give Chicago a shot in the arm. The fundamental change included the largest corn export sales in a long time, and a peace offering to China by the White House p...
Livestock Round Up
FDA on Feedlots? It looks like the cell cultured meat-inspired debate over how the FDA and the Food Inspection Safety Service (FSIS) should share jurisdiction of food safety may not stop in the laboratory. Representative Rosa DeLauro (D-Connecticut), a longtime critic of the meat and poul...
U.S. – China Outlook
There were positive signals today that the U.S. and China will reach some form of a phase one agreement and that tariffs will be reduced instead of increased. The deal may not be achieved until late this month, but it will undermine those arguing for American deglobalization. So-called protecti...
Oilseed Highlights: Chinese Soybeans; U.S. Soy Export Sales; Little Time for U.S. Soy Sales
China’s Soybean Output Estimated at 18.1 MMT China’s Ministry of Agriculture and rural Affairs this week raised its forecast for that country’s soybean production to 18.1 MMT. USDA also used that forecast in Tuesday’s WASDE report. The USDA forecast in November was 17.1...
FOB Prices and Freight Rate App (Updated 12 December)
Update for 12 December 2019: All other routes/offers updated through the day's close. Note: Due to client request, WPI has added data for corn prices FOB France, Russia, and a general Black Sea price. Freight Comments for 12 December 2019: Jay O’Neil, O’Neil Commod...
Interactive Ocean Freight Rates (Updated 12 December)
Data Updated Through: 12 December 2019 Note: Due to client request, WPI has started including rates for 60,000 MT vessels from Russia and Ukraine to Egypt. Ocean Freight Insights and Comments - 12 December 2019 By Jay O'Neil Commodity Consulting Last week the Dry-Bulk market may have fou...
A Few Odds and Ends
As we sink further into December, grain and soy futures markets continue their directionless up and down pattern within current trading ranges. Exciting they are not! The only comment we care to offer is that they seem to go down more easily than they go up as yesterday’s price action dem...
100 Years Trade War; Chemical Trade War
100 Years Trade War The trade war between the U.S. and China may or may not be getting a temporary reprieve late this week but the transatlantic war is about to heat up. The EU is trying to develop with other countries an arbitration approach to replace the WTO Appellate Body (AB) now defunct d...
Market Commentary
CBOT markets were sharply higher overnight after news of a pending U.S.-China trade deal. Soybeans posted an amazing 13½ cent overnight gain while corn finished the night session up 5½ cents. Wheat added 3-5 cents in similarly enthusiastic trade. The day session saw prices m...
Turnaround 2020
The actual agricultural purchases to be made by China next year remains unclear with officials in Beijing failing to confirm President Trump’s boast about huge purchases. There is a press account citing an unnamed Chinese official oddly saying that there will be more imports of American w...
Final Hours of Policy Flurry and Fury
Congress is hitting the home stretch and policy making is at a frenzied paced. Following is a recap and some thoughts on implications. At this point, there are few details available as there are many moving parts. It will be a long weekend for policymakers and their staffs, and many long hours...
Getting to $50 Billion
The draft agreement between Washington and Beijing reportedly calls for China to purchase $50 billion worth of agricultural products from the U.S. in 2020. That would be a 291 percent increase from 2019, or a 92 percent increase from the pre-war year of 2017. One would expect China to have adde...
Market Commentary
Markets were lower overnight, and the expectation was for more of the same when the sun rose but politics and fundamentals combined to give Chicago a shot in the arm. The fundamental change included the largest corn export sales in a long time, and a peace offering to China by the White House p...
Livestock Round Up
FDA on Feedlots? It looks like the cell cultured meat-inspired debate over how the FDA and the Food Inspection Safety Service (FSIS) should share jurisdiction of food safety may not stop in the laboratory. Representative Rosa DeLauro (D-Connecticut), a longtime critic of the meat and poul...
U.S. – China Outlook
There were positive signals today that the U.S. and China will reach some form of a phase one agreement and that tariffs will be reduced instead of increased. The deal may not be achieved until late this month, but it will undermine those arguing for American deglobalization. So-called protecti...
Oilseed Highlights: Chinese Soybeans; U.S. Soy Export Sales; Little Time for U.S. Soy Sales
China’s Soybean Output Estimated at 18.1 MMT China’s Ministry of Agriculture and rural Affairs this week raised its forecast for that country’s soybean production to 18.1 MMT. USDA also used that forecast in Tuesday’s WASDE report. The USDA forecast in November was 17.1...
FOB Prices and Freight Rate App (Updated 12 December)
Update for 12 December 2019: All other routes/offers updated through the day's close. Note: Due to client request, WPI has added data for corn prices FOB France, Russia, and a general Black Sea price. Freight Comments for 12 December 2019: Jay O’Neil, O’Neil Commod...
Interactive Ocean Freight Rates (Updated 12 December)
Data Updated Through: 12 December 2019 Note: Due to client request, WPI has started including rates for 60,000 MT vessels from Russia and Ukraine to Egypt. Ocean Freight Insights and Comments - 12 December 2019 By Jay O'Neil Commodity Consulting Last week the Dry-Bulk market may have fou...
A Few Odds and Ends
As we sink further into December, grain and soy futures markets continue their directionless up and down pattern within current trading ranges. Exciting they are not! The only comment we care to offer is that they seem to go down more easily than they go up as yesterday’s price action dem...
100 Years Trade War; Chemical Trade War
100 Years Trade War The trade war between the U.S. and China may or may not be getting a temporary reprieve late this week but the transatlantic war is about to heat up. The EU is trying to develop with other countries an arbitration approach to replace the WTO Appellate Body (AB) now defunct d...