World Perspectives

Recent Australia Analysis

wheat

WASDE Wheat

USDA’s outlook for the new 2021/22 U.S. wheat crop is for higher production. All wheat yield is 50.7 bushels per acre, up 0.7 bushels from last month. Feed and residual use is raised 10 million bushels to 180 million on the higher supplies as wheat is expected to be priced competitively w...

livestock

Update on Cyber Attack on Meat

This morning we posted an alert on the cyber-attack on JBS IT infrastructure in North America and Australia. The attack happened over the weekend and the company reported the incident to the White House and USDA. The U.S. government is operating under the assumption that this was similar to the...

livestock

Cyber Security: New Commodity Market Risk?

Just three weeks after the Colonial Pipeline that supplies about 45 percent of the gasoline to the U.S. East Coast was hit by cyber hackers, the largest meat packer in the world was hit by a cyber-attack over the weekend. Coincidence? Or have hackers gained an appreciation for the chaos that ca...

wheat soy-oilseeds feed-grains

AM Outlook - Soy Complex Gains on Grains

NOTE: Technical Perspectives from WPI will not be published on May 28, 2021. Good morning -  Prices traded higher overnight led by soyoil, which stabilized bean trade. Soybean bull spreads are working again, finding support after Monday's selloff. Morning trends feature beans gai...

livestock

Uncertain Values

British farmers are upset that their government may give access to the UK market to beef from Australia. They argue that they are not competitive against their Aussie peers. The relative competitiveness is difficult to understand based on public data. Based on dated numbers from the FAO, Brazil...

livestock

Reliability versus Value in Beef

Argentina’s restriction on beef exports to control domestic inflation and political upheaval could raise issues over reliability as a supplier. However, Russia has proven that wheat importing countries care more about value (quality and price) than they do about reliability of specific su...

wheat

WASDE Wheat

WHEAT:  The initial outlook for 2021/22 U.S. wheat is for smaller supplies, higher domestic use, lower exports, and reduced stocks.  Supplies are projected down 3 percent from 2020/21 on lower carry-in stocks offsetting higher production and imports.  All wheat production is proj...

livestock

Livestock Round Up: Bullish Beef Outlook

It’s a month and a half until Memorial Day weekend, the official kick off of seasonal beef demand. The Choice cutout was $276.62/cwt today, up from a $272/cwt average last week, which was up about $20/cwt from the week prior. Part of that rally is demand, and part is supply. March beef pr...

wheat

WASDE Wheat

U.S. wheat outlook is for lower supplies, reduced domestic use, unchanged exports, and higher ending stocks.  Feed and residual use is lowered 25 million bushels to 100 million.  Exports are unchanged.  Projected 2020/21 ending stocks are raised to 852 million bushels but are sti...

Self-Punishment; Easy Solution; Back to the Flame

Self-Punishment China has made its punitive 200 percent tariff on Australian wines permanent for the next five years. The tariff is not import protection for nascent Chinese winemakers but political punishment imposed on Canberra. However, it is concurrently punishment imposed on Chinese consum...

Risk of Precaution; Challenging Poor Governance

Risk of Precaution Several European countries stopped vaccinations with AstraZeneca’s product out of an abundance of caution that it was causing blood clots in some recipients. The EU’s medicines regulator now says there is little risk (EMA data shows a 0.0006% rate of blood clots f...

More to Burn, Less Trade

As the border carbon tax idea picks up steam it leads to all kinds of possibilities for expanding use of border measures to extract policy changes. One target being discussed is the treatment of women, but they could be expanded to policy measures that distort trade, such as labor laws, tax pol...

wheat

WASDE Wheat

USDA’s outlook for the new 2021/22 U.S. wheat crop is for higher production. All wheat yield is 50.7 bushels per acre, up 0.7 bushels from last month. Feed and residual use is raised 10 million bushels to 180 million on the higher supplies as wheat is expected to be priced competitively w...

livestock

Update on Cyber Attack on Meat

This morning we posted an alert on the cyber-attack on JBS IT infrastructure in North America and Australia. The attack happened over the weekend and the company reported the incident to the White House and USDA. The U.S. government is operating under the assumption that this was similar to the...

livestock

Cyber Security: New Commodity Market Risk?

Just three weeks after the Colonial Pipeline that supplies about 45 percent of the gasoline to the U.S. East Coast was hit by cyber hackers, the largest meat packer in the world was hit by a cyber-attack over the weekend. Coincidence? Or have hackers gained an appreciation for the chaos that ca...

wheat soy-oilseeds feed-grains

AM Outlook - Soy Complex Gains on Grains

NOTE: Technical Perspectives from WPI will not be published on May 28, 2021. Good morning -  Prices traded higher overnight led by soyoil, which stabilized bean trade. Soybean bull spreads are working again, finding support after Monday's selloff. Morning trends feature beans gai...

livestock

Uncertain Values

British farmers are upset that their government may give access to the UK market to beef from Australia. They argue that they are not competitive against their Aussie peers. The relative competitiveness is difficult to understand based on public data. Based on dated numbers from the FAO, Brazil...

livestock

Reliability versus Value in Beef

Argentina’s restriction on beef exports to control domestic inflation and political upheaval could raise issues over reliability as a supplier. However, Russia has proven that wheat importing countries care more about value (quality and price) than they do about reliability of specific su...

wheat

WASDE Wheat

WHEAT:  The initial outlook for 2021/22 U.S. wheat is for smaller supplies, higher domestic use, lower exports, and reduced stocks.  Supplies are projected down 3 percent from 2020/21 on lower carry-in stocks offsetting higher production and imports.  All wheat production is proj...

livestock

Livestock Round Up: Bullish Beef Outlook

It’s a month and a half until Memorial Day weekend, the official kick off of seasonal beef demand. The Choice cutout was $276.62/cwt today, up from a $272/cwt average last week, which was up about $20/cwt from the week prior. Part of that rally is demand, and part is supply. March beef pr...

wheat

WASDE Wheat

U.S. wheat outlook is for lower supplies, reduced domestic use, unchanged exports, and higher ending stocks.  Feed and residual use is lowered 25 million bushels to 100 million.  Exports are unchanged.  Projected 2020/21 ending stocks are raised to 852 million bushels but are sti...

Self-Punishment; Easy Solution; Back to the Flame

Self-Punishment China has made its punitive 200 percent tariff on Australian wines permanent for the next five years. The tariff is not import protection for nascent Chinese winemakers but political punishment imposed on Canberra. However, it is concurrently punishment imposed on Chinese consum...

Risk of Precaution; Challenging Poor Governance

Risk of Precaution Several European countries stopped vaccinations with AstraZeneca’s product out of an abundance of caution that it was causing blood clots in some recipients. The EU’s medicines regulator now says there is little risk (EMA data shows a 0.0006% rate of blood clots f...

More to Burn, Less Trade

As the border carbon tax idea picks up steam it leads to all kinds of possibilities for expanding use of border measures to extract policy changes. One target being discussed is the treatment of women, but they could be expanded to policy measures that distort trade, such as labor laws, tax pol...

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