Market Commentary: Reports Tank Soy Complex and Wheat; Corn Stocks Bullish but Market Falls Anyway
The much-anticipated Grain Stocks report failed to match expectations in terms of supply data, but more than exceeded hopes for an exciting day of trade. The USDA’s headline report – the Grain Stocks as of 1 September – and the Small Grains summary report sent wheat and the so...
Responding to China
EU Trade Minister Valdis Dombrovskis is headed to China, reportedly with the message to sign onto some form of trade agreement giving Europe assurances of a more balanced relationship, or risk things getting worse. It doesn’t help when Beijing’s rhetoric is over-wrought. The EU has...
Chinese Energy Imports: Crude Oil at Record Levels
There has been much attention to, and discussion of, China’s declining two-way trade volumes. China is a trade dependent economy, with imports of many commodities and goods fueling its manufacturing and processing sectors and exports bringing in hard currency. China’s trade flows, h...
Mercosur Regional Analysis
Wheat Despite recent rains and improvements in the wheat crop’s overall state, the Rosario Grain Exchange has reduced its production estimate by 600,000 MT, which now stands at a total production of 15 MMT. This is because the area from the center of the Cordoba Province northward and wes...
Black Sea Regional Analysis
Russian Grain Markets: 4–8 September 2023 Russian grain markets remained bearish, however, export volumes of all agricultural commodities from Russia remained stable. Russia has no navigation restrictions across the Black Sea. Going through Bosporus or any other channel, Russia can...
WASDE Soybeans
USDA reduced U.S. soybean stocks for 2023/24 to 220 million bushels, down 25 million from last month. Global soybean ending stocks are reduced 0.2 million tons to 119.2 million. The season-average soybean price is forecast at $12.90 per bushel, up $0.20 from last month. The soybean meal p...
WASDE Corn
USDA made slight increases in U.S. corn for 2023/24 - U.S. corn outlook is for slightly larger supplies and use unchanged. The result is ending stocks are up 19 million bushels to 2.2 billion. The season-average corn price received by farmers is unchanged at $4.90 per bushel. Foreig...
WASDE Wheat
USDA made no changes in total U.S. wheat for 2023/24. Global supplies are projected to decline 7.2 million tons to 1,054.5 million, primarily on lower production for Australia, Canada, Argentina, and the EU, which is only partly offset by an increase for Ukraine. World ending stocks are r...
Brazil and China Dominate Beef Market
A drop in U.S. beef exports is corresponding with the cattle cycle fall in production. U.S. beef production is falling by a half million tons, with domestic consumption losing about half that amount, and reduced exports offsetting about a third of the lower output. The export drop looks more si...
Market Commentary: Futures Unfazed by Heat but Barge Rates Soar; Crush Report Shows Soyoil Demand
The CBOT was mostly flat in quiet trade to end the week with traders showing little concern for a weekend of hot, dry weather for most of the crop-growing U.S. Corn and soybeans managed to find their way to modest gains on short covering and some reaction to the weather, but wheat futures ended...
Market Commentary: Sliding into Fall
It was another day of the weather and Chicago working at cross purposes. Continued heat and dryness are expected to knock corn and soybean yields lower but it was another day of losses for grains and oilseeds. There may be some profit taking ahead of the upcoming three-day holiday weekend, but...
Market Commentary: Lots of Mixed Messages
You are reading this report to better understand the issue of risk. This might make you unusual since the Global Financial Literacy Excellence Center reports that respondents to its surveys show only 35 percent answer questions correctly about the topic. Then again, it is a tricky subject. Even...
Market Commentary: Reports Tank Soy Complex and Wheat; Corn Stocks Bullish but Market Falls Anyway
The much-anticipated Grain Stocks report failed to match expectations in terms of supply data, but more than exceeded hopes for an exciting day of trade. The USDA’s headline report – the Grain Stocks as of 1 September – and the Small Grains summary report sent wheat and the so...
Responding to China
EU Trade Minister Valdis Dombrovskis is headed to China, reportedly with the message to sign onto some form of trade agreement giving Europe assurances of a more balanced relationship, or risk things getting worse. It doesn’t help when Beijing’s rhetoric is over-wrought. The EU has...
Chinese Energy Imports: Crude Oil at Record Levels
There has been much attention to, and discussion of, China’s declining two-way trade volumes. China is a trade dependent economy, with imports of many commodities and goods fueling its manufacturing and processing sectors and exports bringing in hard currency. China’s trade flows, h...
Mercosur Regional Analysis
Wheat Despite recent rains and improvements in the wheat crop’s overall state, the Rosario Grain Exchange has reduced its production estimate by 600,000 MT, which now stands at a total production of 15 MMT. This is because the area from the center of the Cordoba Province northward and wes...
Black Sea Regional Analysis
Russian Grain Markets: 4–8 September 2023 Russian grain markets remained bearish, however, export volumes of all agricultural commodities from Russia remained stable. Russia has no navigation restrictions across the Black Sea. Going through Bosporus or any other channel, Russia can...
WASDE Soybeans
USDA reduced U.S. soybean stocks for 2023/24 to 220 million bushels, down 25 million from last month. Global soybean ending stocks are reduced 0.2 million tons to 119.2 million. The season-average soybean price is forecast at $12.90 per bushel, up $0.20 from last month. The soybean meal p...
WASDE Corn
USDA made slight increases in U.S. corn for 2023/24 - U.S. corn outlook is for slightly larger supplies and use unchanged. The result is ending stocks are up 19 million bushels to 2.2 billion. The season-average corn price received by farmers is unchanged at $4.90 per bushel. Foreig...
WASDE Wheat
USDA made no changes in total U.S. wheat for 2023/24. Global supplies are projected to decline 7.2 million tons to 1,054.5 million, primarily on lower production for Australia, Canada, Argentina, and the EU, which is only partly offset by an increase for Ukraine. World ending stocks are r...
Brazil and China Dominate Beef Market
A drop in U.S. beef exports is corresponding with the cattle cycle fall in production. U.S. beef production is falling by a half million tons, with domestic consumption losing about half that amount, and reduced exports offsetting about a third of the lower output. The export drop looks more si...
Market Commentary: Futures Unfazed by Heat but Barge Rates Soar; Crush Report Shows Soyoil Demand
The CBOT was mostly flat in quiet trade to end the week with traders showing little concern for a weekend of hot, dry weather for most of the crop-growing U.S. Corn and soybeans managed to find their way to modest gains on short covering and some reaction to the weather, but wheat futures ended...
Market Commentary: Sliding into Fall
It was another day of the weather and Chicago working at cross purposes. Continued heat and dryness are expected to knock corn and soybean yields lower but it was another day of losses for grains and oilseeds. There may be some profit taking ahead of the upcoming three-day holiday weekend, but...
Market Commentary: Lots of Mixed Messages
You are reading this report to better understand the issue of risk. This might make you unusual since the Global Financial Literacy Excellence Center reports that respondents to its surveys show only 35 percent answer questions correctly about the topic. Then again, it is a tricky subject. Even...