World Perspectives

Recent Australia Analysis

Trade Managed by China; India Tiptoes Reform

Trade Managed by China Australia Trade Minister Simon Birmingham said that government is looking carefully to see if the U.S. – China Phase One trade agreement is resulting in “managed trade” that is violating the rules of the WTO. Well the agreement is certainly managed trade...

livestock

Let Them Have Meat

Most of the top ten beef producing countries around the world have increased production over the past decade except for two, the EU and Australia. Australia has had some issues with drought, but domestic consumption has also dropped in these two markets. In fact, consumption in Australia has dr...

feed-grains soy-oilseeds wheat

Market Commentary

The day started and ended as called with Chicago wheat and the livestock complex in the green while corn and soybeans went under water. Wheat remains the play with substantial volume trying to get in even as there was substantial volume working against soybeans. With a three-day holiday weekend...

feed-grains wheat soy-oilseeds

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  The United Nations reportedly purchased 80,000 MT of Ukraine wheat for Sudan that will be shipped in two 40,000 MT lots in May and July. This is part of the UN food aid program. Financial experts are forecasting a 2020 drop in the va...

wheat

WASDE Wheat

USDA Estimates - U.S. wheat in 2020/21 will have reduced stocks.  The 2020/21 U.S. wheat crop is projected at 1,866 million bushels, down 3 percent from last year as lower yields offsett higher harvested acreage.  The all-wheat yield is projected at 49.5 bushels per acre, down 2.2 bus...

feed-grains soy-oilseeds wheat

Market Commentary

The CBOT opened with short covering that lifted corn and soybeans higher early in the day. Firmer crude oil prices were supportive initially. Row crops ended up trading both sides of unchanged but finished slightly higher ahead of First Notice day tomorrow. Wheat was the bigger story of the day...

feed-grains soy-oilseeds wheat

Market Commentary

The CBOT was higher overnight on short covering and what looked to be the start of a Turnaround Tuesday. The day session, however, featured aggressive fund selling in row crops that eliminated any hope for a turnaround. Wheat futures managed to find some support off yesterday’s Crop Condi...

Comfortable and Safe; Adjusting Risk-Benefit; Miscellany

Comfortable and Safe Food processors are reporting brisk sales of their processed products. Nestlé’s Hot Pockets are selling lot hot cakes; Nielsen reports that canned soup sales are up 37 percent, canned meat rose 60 percent and frozen pizza is up 51 percent. Products that were mo...

feed-grains soy-oilseeds wheat

Market Commentary

The biggest news of the day is the fact that May crude oil futures traded to negative prices, posting a daily low of negative $40.34 (-$40.32) before settling slightly higher. U.S. crude oil storage capacity is basically nonexistent right now, helping create the price weakness and today’s...

wheat

WASDE Wheat

USDA’s wheat outlook – is for lower U.S. exports, reduced domestic use, and increased ending stocks.  The NASS Grain Stocks report, issued March 31, implied less feed and residual disappearance for both the second and third quarters than previously estimated.  U.S. wheat e...

feed-grains soy-oilseeds wheat

Market Commentary

There were several reasons to be bearish today and not much countering the mood. USDA’s Outlook released this morning framed the year ahead as fundamentally stable and an improvement over 2019. It will be for wheat with prices forecast to increase 8 percent and soybeans with a 1 percent r...

livestock

Livestock Roundup

Cattle on Feed Preview    USDA will release its monthly cattle on feed report tomorrow. Pre-report estimates from the industry peg the total number of cattle on feed as of 1 February at 102.4 percent of last year. If accurate, at about 11.85 million head, that would be the largest Feb...

Trade Managed by China; India Tiptoes Reform

Trade Managed by China Australia Trade Minister Simon Birmingham said that government is looking carefully to see if the U.S. – China Phase One trade agreement is resulting in “managed trade” that is violating the rules of the WTO. Well the agreement is certainly managed trade...

livestock

Let Them Have Meat

Most of the top ten beef producing countries around the world have increased production over the past decade except for two, the EU and Australia. Australia has had some issues with drought, but domestic consumption has also dropped in these two markets. In fact, consumption in Australia has dr...

feed-grains soy-oilseeds wheat

Market Commentary

The day started and ended as called with Chicago wheat and the livestock complex in the green while corn and soybeans went under water. Wheat remains the play with substantial volume trying to get in even as there was substantial volume working against soybeans. With a three-day holiday weekend...

feed-grains wheat soy-oilseeds

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  The United Nations reportedly purchased 80,000 MT of Ukraine wheat for Sudan that will be shipped in two 40,000 MT lots in May and July. This is part of the UN food aid program. Financial experts are forecasting a 2020 drop in the va...

wheat

WASDE Wheat

USDA Estimates - U.S. wheat in 2020/21 will have reduced stocks.  The 2020/21 U.S. wheat crop is projected at 1,866 million bushels, down 3 percent from last year as lower yields offsett higher harvested acreage.  The all-wheat yield is projected at 49.5 bushels per acre, down 2.2 bus...

feed-grains soy-oilseeds wheat

Market Commentary

The CBOT opened with short covering that lifted corn and soybeans higher early in the day. Firmer crude oil prices were supportive initially. Row crops ended up trading both sides of unchanged but finished slightly higher ahead of First Notice day tomorrow. Wheat was the bigger story of the day...

feed-grains soy-oilseeds wheat

Market Commentary

The CBOT was higher overnight on short covering and what looked to be the start of a Turnaround Tuesday. The day session, however, featured aggressive fund selling in row crops that eliminated any hope for a turnaround. Wheat futures managed to find some support off yesterday’s Crop Condi...

Comfortable and Safe; Adjusting Risk-Benefit; Miscellany

Comfortable and Safe Food processors are reporting brisk sales of their processed products. Nestlé’s Hot Pockets are selling lot hot cakes; Nielsen reports that canned soup sales are up 37 percent, canned meat rose 60 percent and frozen pizza is up 51 percent. Products that were mo...

feed-grains soy-oilseeds wheat

Market Commentary

The biggest news of the day is the fact that May crude oil futures traded to negative prices, posting a daily low of negative $40.34 (-$40.32) before settling slightly higher. U.S. crude oil storage capacity is basically nonexistent right now, helping create the price weakness and today’s...

wheat

WASDE Wheat

USDA’s wheat outlook – is for lower U.S. exports, reduced domestic use, and increased ending stocks.  The NASS Grain Stocks report, issued March 31, implied less feed and residual disappearance for both the second and third quarters than previously estimated.  U.S. wheat e...

feed-grains soy-oilseeds wheat

Market Commentary

There were several reasons to be bearish today and not much countering the mood. USDA’s Outlook released this morning framed the year ahead as fundamentally stable and an improvement over 2019. It will be for wheat with prices forecast to increase 8 percent and soybeans with a 1 percent r...

livestock

Livestock Roundup

Cattle on Feed Preview    USDA will release its monthly cattle on feed report tomorrow. Pre-report estimates from the industry peg the total number of cattle on feed as of 1 February at 102.4 percent of last year. If accurate, at about 11.85 million head, that would be the largest Feb...

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