World Perspectives

Recent China Analysis

livestock

Shifting Protein Consumption

By far, Americans consume more animal protein than either China or the EU, but the composition is different. The Chinese and Europeans consume more pork per capita than the U.S., while Americans eat more beef and poultry. However, the composition of animal protein in the diet has changed in bo...

feed-grains soy-oilseeds wheat

Market Commentary: Downside of Up

Markets have their ups and downs and today was the downside of up. After pretty much adding points for the last several days, today was a modest correction.  There were macro influences such as oil pressed lower and the dollar higher. Equities were mixed, with the Dow dragged lower by sin...

Read My Lips; Trickle Down Policy; Red Threat

Read My Lips Former U.S. President George H.W. Bush infamously assured voters that he would not raise taxes by saying, “Read my lips.” Once elected, he raised taxes. Mexican Agriculture Minister Victor Villalobos reassured USDA Secretary Tom Vilsack that his country would not allow...

soy-oilseeds

Oilseed Highlights: Soy Export Sales; China Soy Stocks; New Renewable Diesel Facility

U.S. Soybean Export Sales and Exports Continue to Surge Today’s USDA/FAS export sales report confirmed exporters are seeing surging sales of soybeans for export as well as loading large shipments of soybeans for export. Soymeal export sales also are rising, but not as fast as for soybeans...

feed-grains soy-oilseeds livestock

China In-Country Analysis

Livestock Financial Reports Show Top Hog Producers Had Rough Q3 Last week, several major domestic hog producers, also known as “Pork Concept” companies, released their financial results for the recent Q3. Saying that several bled like a stuck pig might be an understatement. Muyuan F...

feed-grains soy-oilseeds wheat

Market Commentary: Soy Complex Higher on China Buying Rumors, Soymeal Short Covering; Grains End Mixed

The CBOT was mixed Tuesday with wheat leading the way higher overnight but with the day session seeing increased weakness in grains while oilseeds rallied. Chinese buying is rumored to be underpinning the soy complex, but no fresh daily export sales announcements have been made. Canadian and Eu...

feed-grains

Sorghum Dominance

Sub Saharan Africa (SSA) is the largest sorghum producing region in the world, growing nearly 44 percent of global output. Yet it exports and imports only a small fraction of globally traded milo. Production in the region has been relatively stable. By contrast, world trade in sorghum has been...

feed-grains soy-oilseeds wheat

Market Commentary: CBOT Attention Turns to Demand

The CBOT opened mixed with corn and soybeans steady/lower while wheat saw higher trade on tightening global supplies. That early weakness, however, was mostly erased with corn gaining upside traction while wheat traded firmer in two-sided trade. The corn rally came despite a modest pullback in...

feed-grains wheat soy-oilseeds

Mercosur Regional Analysis

Corn Argentina Rumors about a non-official agreement between the government and exporters to cap Argentina’s export sales at 38.5 MMT have been circulating for some time, but last week the government officially announced the policy and closed additional declarations. The government is say...

feed-grains soy-oilseeds wheat

Market Commentary: Notable Push Higher

Markets pushed higher for the most part a second day in row, boost by a competitive pricing situation and strong exports. Funds have had to reverse the selling they committed earlier this week. China has not only purchased a lot of soybeans but may have added a cargo of U.S. wheat to the large...

feed-grains soy-oilseeds wheat

Market Commentary: Hosanna High

After several days of closing lower it was an upside day for everything but lean hogs. Yesterday’s selloff and a long stream of red led to an oversold situation that was bound for a rebound. The macros are known but now it is a battle for the minds. For the funds, larger crops are in the...

soy-oilseeds

Oilseed Highlights: Soy Stocks; Another Soy Crush Plant; China Vegoil Imports; India Tariffs

USDA WASDE Report Substantially Loosens Soy Supply/Demand Situation Only a few days after USDA raised its estimate for U.S. soybean ending stocks in 2020/21, it again raised its estimates for stocks in 2021/22 with its 12 October WASDE crop production report. By increasing its forecast for the...

livestock

Shifting Protein Consumption

By far, Americans consume more animal protein than either China or the EU, but the composition is different. The Chinese and Europeans consume more pork per capita than the U.S., while Americans eat more beef and poultry. However, the composition of animal protein in the diet has changed in bo...

feed-grains soy-oilseeds wheat

Market Commentary: Downside of Up

Markets have their ups and downs and today was the downside of up. After pretty much adding points for the last several days, today was a modest correction.  There were macro influences such as oil pressed lower and the dollar higher. Equities were mixed, with the Dow dragged lower by sin...

Read My Lips; Trickle Down Policy; Red Threat

Read My Lips Former U.S. President George H.W. Bush infamously assured voters that he would not raise taxes by saying, “Read my lips.” Once elected, he raised taxes. Mexican Agriculture Minister Victor Villalobos reassured USDA Secretary Tom Vilsack that his country would not allow...

soy-oilseeds

Oilseed Highlights: Soy Export Sales; China Soy Stocks; New Renewable Diesel Facility

U.S. Soybean Export Sales and Exports Continue to Surge Today’s USDA/FAS export sales report confirmed exporters are seeing surging sales of soybeans for export as well as loading large shipments of soybeans for export. Soymeal export sales also are rising, but not as fast as for soybeans...

feed-grains soy-oilseeds livestock

China In-Country Analysis

Livestock Financial Reports Show Top Hog Producers Had Rough Q3 Last week, several major domestic hog producers, also known as “Pork Concept” companies, released their financial results for the recent Q3. Saying that several bled like a stuck pig might be an understatement. Muyuan F...

feed-grains soy-oilseeds wheat

Market Commentary: Soy Complex Higher on China Buying Rumors, Soymeal Short Covering; Grains End Mixed

The CBOT was mixed Tuesday with wheat leading the way higher overnight but with the day session seeing increased weakness in grains while oilseeds rallied. Chinese buying is rumored to be underpinning the soy complex, but no fresh daily export sales announcements have been made. Canadian and Eu...

feed-grains

Sorghum Dominance

Sub Saharan Africa (SSA) is the largest sorghum producing region in the world, growing nearly 44 percent of global output. Yet it exports and imports only a small fraction of globally traded milo. Production in the region has been relatively stable. By contrast, world trade in sorghum has been...

feed-grains soy-oilseeds wheat

Market Commentary: CBOT Attention Turns to Demand

The CBOT opened mixed with corn and soybeans steady/lower while wheat saw higher trade on tightening global supplies. That early weakness, however, was mostly erased with corn gaining upside traction while wheat traded firmer in two-sided trade. The corn rally came despite a modest pullback in...

feed-grains wheat soy-oilseeds

Mercosur Regional Analysis

Corn Argentina Rumors about a non-official agreement between the government and exporters to cap Argentina’s export sales at 38.5 MMT have been circulating for some time, but last week the government officially announced the policy and closed additional declarations. The government is say...

feed-grains soy-oilseeds wheat

Market Commentary: Notable Push Higher

Markets pushed higher for the most part a second day in row, boost by a competitive pricing situation and strong exports. Funds have had to reverse the selling they committed earlier this week. China has not only purchased a lot of soybeans but may have added a cargo of U.S. wheat to the large...

feed-grains soy-oilseeds wheat

Market Commentary: Hosanna High

After several days of closing lower it was an upside day for everything but lean hogs. Yesterday’s selloff and a long stream of red led to an oversold situation that was bound for a rebound. The macros are known but now it is a battle for the minds. For the funds, larger crops are in the...

soy-oilseeds

Oilseed Highlights: Soy Stocks; Another Soy Crush Plant; China Vegoil Imports; India Tariffs

USDA WASDE Report Substantially Loosens Soy Supply/Demand Situation Only a few days after USDA raised its estimate for U.S. soybean ending stocks in 2020/21, it again raised its estimates for stocks in 2021/22 with its 12 October WASDE crop production report. By increasing its forecast for the...

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