World Perspectives

Recent Australia Analysis

feed-grains soy-oilseeds wheat

Market Commentary: Weaker into the Weekend

The CBOT was sharply weaker heading into the weekend with many contracts posting new contract lows. September corn, December soymeal, and the first five listed HRW and MGEX wheat contracts all posted fresh contract lows. Soybeans, while far from contract lows, still posted a strongly bearish cl...

feed-grains soy-oilseeds wheat

How Big is Big?

One might say that grain and soy futures markets are a function of relative sizes.  Fundamentally, their prices are moved by how big or small crop production may be, by how large or how limited demand may be and by the size of each year’s ending stocks. Said another way, the fundamen...

feed-grains

Malt Prices Rising

The malting barley sector was thrown two curve balls this year: the shutdown of the hospitality sector by COVID-19, and China imposing punitive tariffs on its typical supplier, Australia. However, neither development explains the recent uptick in prices given that sales typically occur in the l...

feed-grains soy-oilseeds wheat

Market Commentary

Markets are being whipsawed as concerns about the economy apply downward pressure as seen in the last overnight session and then buoyed somewhat this morning by the Export Sales report. Let’s start with the economy. It suffered a huge contraction due to COVID-19. Everyone knew that before...

feed-grains soy-oilseeds wheat

The Pandemic, the Economy and Demand

The Federal Reserve Bank’s July meeting ended yesterday. No one expects the Fed to change its stance on record low interest rates or to ease up on its buying of government bonds and mortgage-backed securities as a means of pumping money into the economy. The minutes of this week’s F...

wheat

WASDE Wheat

USDA’s outlook for 2020/21 U.S. wheat is for larger supplies, lower domestic use, unchanged exports, and increased stocks.  Supplies are raised as larger beginning stocks more than offset lower production.   Beginning stocks are increased on the NASS Grain Stocks report, is...

The Price Ain’t Right; Food Standards Fraud; Opportunity Strikes

The Price Ain’t Right German Agriculture Minister Julia Kloeckner thinks the problem is inexpensive meat. She told Reuters that, “Meat is too cheap. Lurid advertising with low prices for meat does not fit with appreciation and sustainability…This is no longer acceptable.&rdqu...

feed-grains soy-oilseeds wheat

Market Commentary

It was a quiet session (December corn contract volume was down 55 percent from the five-day average) in an early close before a long weekend as some profit was taken off the table, but there are still things to talk about.  Economists polled by Reuters ahead of today’s U.S. jobs rep...

feed-grains soy-oilseeds livestock

China In-Country Analysis

Policy China Makes New Overtures to Trans-Pacific Partnership Last month a series of articles appeared discussing Beijing’s new openness to joining the Comprehensive and Progress Agreement for Trans-Pacific Partnership (CPTPP).  The current 11-member trading bloc consisting of eleven...

feed-grains soy-oilseeds wheat

European Market Analysis

Regional News  Europe’s wheat harvest is starting, and the market will be closely watching for reports of yield and quality issues. WPI sources suggest that the harvest in southern France has, so far, featured above-average quality but below-trendline yields. Yields, however, are exp...

wheat

Competitiveness of Wheat Exporters

Price and export market share should be correlated. In other words, lower cost producers should be able to expand their sales while higher cost sellers should see a decline in exports. With wheat, that may not be true. However, just looking at the farmgate value of wheat in the top exporting na...

wheat

WASDE Wheat

USDA estimates U.S. wheat production at 1,877 million bushels. Total domestic supplies are raised 16 million to 3,000 million bushels.  World 2020/21 wheat supplies are raised 5.7 million tons on a 4.9-million-ton production increase and higher beginning stocks.   India’s c...

feed-grains soy-oilseeds wheat

Market Commentary: Weaker into the Weekend

The CBOT was sharply weaker heading into the weekend with many contracts posting new contract lows. September corn, December soymeal, and the first five listed HRW and MGEX wheat contracts all posted fresh contract lows. Soybeans, while far from contract lows, still posted a strongly bearish cl...

feed-grains soy-oilseeds wheat

How Big is Big?

One might say that grain and soy futures markets are a function of relative sizes.  Fundamentally, their prices are moved by how big or small crop production may be, by how large or how limited demand may be and by the size of each year’s ending stocks. Said another way, the fundamen...

feed-grains

Malt Prices Rising

The malting barley sector was thrown two curve balls this year: the shutdown of the hospitality sector by COVID-19, and China imposing punitive tariffs on its typical supplier, Australia. However, neither development explains the recent uptick in prices given that sales typically occur in the l...

feed-grains soy-oilseeds wheat

Market Commentary

Markets are being whipsawed as concerns about the economy apply downward pressure as seen in the last overnight session and then buoyed somewhat this morning by the Export Sales report. Let’s start with the economy. It suffered a huge contraction due to COVID-19. Everyone knew that before...

feed-grains soy-oilseeds wheat

The Pandemic, the Economy and Demand

The Federal Reserve Bank’s July meeting ended yesterday. No one expects the Fed to change its stance on record low interest rates or to ease up on its buying of government bonds and mortgage-backed securities as a means of pumping money into the economy. The minutes of this week’s F...

wheat

WASDE Wheat

USDA’s outlook for 2020/21 U.S. wheat is for larger supplies, lower domestic use, unchanged exports, and increased stocks.  Supplies are raised as larger beginning stocks more than offset lower production.   Beginning stocks are increased on the NASS Grain Stocks report, is...

The Price Ain’t Right; Food Standards Fraud; Opportunity Strikes

The Price Ain’t Right German Agriculture Minister Julia Kloeckner thinks the problem is inexpensive meat. She told Reuters that, “Meat is too cheap. Lurid advertising with low prices for meat does not fit with appreciation and sustainability…This is no longer acceptable.&rdqu...

feed-grains soy-oilseeds wheat

Market Commentary

It was a quiet session (December corn contract volume was down 55 percent from the five-day average) in an early close before a long weekend as some profit was taken off the table, but there are still things to talk about.  Economists polled by Reuters ahead of today’s U.S. jobs rep...

feed-grains soy-oilseeds livestock

China In-Country Analysis

Policy China Makes New Overtures to Trans-Pacific Partnership Last month a series of articles appeared discussing Beijing’s new openness to joining the Comprehensive and Progress Agreement for Trans-Pacific Partnership (CPTPP).  The current 11-member trading bloc consisting of eleven...

feed-grains soy-oilseeds wheat

European Market Analysis

Regional News  Europe’s wheat harvest is starting, and the market will be closely watching for reports of yield and quality issues. WPI sources suggest that the harvest in southern France has, so far, featured above-average quality but below-trendline yields. Yields, however, are exp...

wheat

Competitiveness of Wheat Exporters

Price and export market share should be correlated. In other words, lower cost producers should be able to expand their sales while higher cost sellers should see a decline in exports. With wheat, that may not be true. However, just looking at the farmgate value of wheat in the top exporting na...

wheat

WASDE Wheat

USDA estimates U.S. wheat production at 1,877 million bushels. Total domestic supplies are raised 16 million to 3,000 million bushels.  World 2020/21 wheat supplies are raised 5.7 million tons on a 4.9-million-ton production increase and higher beginning stocks.   India’s c...

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