Market Commentary
Corn and wheat opened lower Sunday with soybeans slightly higher. Everything was slightly lower by the time markets closed this morning, and that is how they opened the day session. Soybeans traded back and forth with small gains or losses through much of today. Wheat was moderately lower with...
Southeast Europe Regional Analysis
Milling Wheat The Black Sea market had a weaker tone last week with the new crop harvest approaching and as export commitments for the first quarter of the new campaign are lower than a year ago at this time. The buyers/consumers in the major destinations are confused due to the conflicting rep...
Market Commentary
There probably isn’t much point in talking about fundamental issues surrounding the grain and oilseed markets as very little has changed in that regard. The Black Sea region continues to suffer from adverse weather that is reducing yields and production there, and most of Australia is sti...
What USDA Didn’t Say
This week’s WASDE report from USDA was considered slightly bullish for prices, although that certainly wasn’t apparent by the market’s action during the past few trading sessions. U.S. corn and soybean ending supplies were reduced. World demand remains very strong, but crop pr...
Market Commentary
The rout continues. Grains and soy complex futures prices fell again overnight, and they continued to drop throughout the day session. Interestingly, corn and wheat were relatively weaker than soybeans even though the latter have a much bigger stake in the U.S./China tariff situation. The likel...
Black Sea Regional Analysis
Russian Grain Markets: 4-8 June 2018 Domestic grain prices on the Russian market mostly grew. Meanwhile, export prices mainly dropped as 2018 production started entering the market. Thus, the average milling wheat export price decreased to $206/MT FOB Black Sea, and purchase prices at seaports...
Market Commentary
Grain and soy futures started out firmer on follow-through from yesterday’s post-report rally. However, that did not last long. The market’s attention soon returned to trade issues when Washington sources indicated the Trump administration is preparing to impose the long-discussed t...
Market Commentary
The overnight market did not seem to know how to take the results of the Trump/Kim Jong Un meeting in Singapore. It ended with an announced agreement to denuclearize North Korea and for the U.S. to cease joint military exercises with South Korea. As always, the “devil is in the details,&r...
USDA’s June WASDE
June WASDEs typically provide few surprises and little market movement. Taken individually, not one of USDA’s new estimates and projections is very surprising. Collectively, they emphasize a trend that markets have been slow to acknowledge, which is that U.S. and world supplies of grain a...
WASDE Wheat
USDA estimates that World 2018/19 wheat supplies decrease this month by 1.2 million tons. Production declines in Russia, the EU, and Mexico did not fully offset by higher projected production in India and the United States. U.S. 2018/19 wheat supplies are increased this month on higher be...
Oilseed Highlights: Brazil’s Soy Crop; WASDE Changes for Oilseed Sector; EU Rapeseed
Brazil’s Conab Raises Soybean Crop Estimate Conab, Brazil’s crop supply agency, today raised its estimate for that country’s 2018 soybean crop from 117 MMT to 118.05 MMT. This resulted from the increase in the average yield to a record 3.359 MT/hectare (49.9 bushels/acre). For...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Syria and Russia are said to be developing a shipping route between Tartus, Syria and Sebastopol, Crimea, mainly for the supply of grain to Syria but also for building materials. Syria will ship agricultural products to Sebastopol. “Rebe...
Market Commentary
Corn and wheat opened lower Sunday with soybeans slightly higher. Everything was slightly lower by the time markets closed this morning, and that is how they opened the day session. Soybeans traded back and forth with small gains or losses through much of today. Wheat was moderately lower with...
Southeast Europe Regional Analysis
Milling Wheat The Black Sea market had a weaker tone last week with the new crop harvest approaching and as export commitments for the first quarter of the new campaign are lower than a year ago at this time. The buyers/consumers in the major destinations are confused due to the conflicting rep...
Market Commentary
There probably isn’t much point in talking about fundamental issues surrounding the grain and oilseed markets as very little has changed in that regard. The Black Sea region continues to suffer from adverse weather that is reducing yields and production there, and most of Australia is sti...
What USDA Didn’t Say
This week’s WASDE report from USDA was considered slightly bullish for prices, although that certainly wasn’t apparent by the market’s action during the past few trading sessions. U.S. corn and soybean ending supplies were reduced. World demand remains very strong, but crop pr...
Market Commentary
The rout continues. Grains and soy complex futures prices fell again overnight, and they continued to drop throughout the day session. Interestingly, corn and wheat were relatively weaker than soybeans even though the latter have a much bigger stake in the U.S./China tariff situation. The likel...
Black Sea Regional Analysis
Russian Grain Markets: 4-8 June 2018 Domestic grain prices on the Russian market mostly grew. Meanwhile, export prices mainly dropped as 2018 production started entering the market. Thus, the average milling wheat export price decreased to $206/MT FOB Black Sea, and purchase prices at seaports...
Market Commentary
Grain and soy futures started out firmer on follow-through from yesterday’s post-report rally. However, that did not last long. The market’s attention soon returned to trade issues when Washington sources indicated the Trump administration is preparing to impose the long-discussed t...
Market Commentary
The overnight market did not seem to know how to take the results of the Trump/Kim Jong Un meeting in Singapore. It ended with an announced agreement to denuclearize North Korea and for the U.S. to cease joint military exercises with South Korea. As always, the “devil is in the details,&r...
USDA’s June WASDE
June WASDEs typically provide few surprises and little market movement. Taken individually, not one of USDA’s new estimates and projections is very surprising. Collectively, they emphasize a trend that markets have been slow to acknowledge, which is that U.S. and world supplies of grain a...
WASDE Wheat
USDA estimates that World 2018/19 wheat supplies decrease this month by 1.2 million tons. Production declines in Russia, the EU, and Mexico did not fully offset by higher projected production in India and the United States. U.S. 2018/19 wheat supplies are increased this month on higher be...
Oilseed Highlights: Brazil’s Soy Crop; WASDE Changes for Oilseed Sector; EU Rapeseed
Brazil’s Conab Raises Soybean Crop Estimate Conab, Brazil’s crop supply agency, today raised its estimate for that country’s 2018 soybean crop from 117 MMT to 118.05 MMT. This resulted from the increase in the average yield to a record 3.359 MT/hectare (49.9 bushels/acre). For...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Syria and Russia are said to be developing a shipping route between Tartus, Syria and Sebastopol, Crimea, mainly for the supply of grain to Syria but also for building materials. Syria will ship agricultural products to Sebastopol. “Rebe...