Partial Analysis; WTO Repeated Error; China’s Virus Problem
Partial Analysis The EU undergoes a WTO trade policy review this week in Geneva and Maria Cipollina and Luca Salvatici write in the European Review of Agricultural Economics that the trading block’s tariffs have greatly redirected agricultural imports. The pair correctly note that agricul...
FOB Prices and Freight Rate App (Updated 18 February)
Update for 18 February 2020: New Data Added!! WPI has expanded the data offerings in this app to include DDGS, Sorghum, Soymeal, Corn Gluten Meal, Corn Gluent Feed Pellets, and additional FOB price indications for corn and soybeans. All other routes/offers updated through the day's close. ...
Interactive Ocean Freight Rates (Updated 18 February)
Data Updated Through: 18 February 2020 New Features: Added 6 month, 1 year, 2 year, YTD, and "All" data selectors for easier navigation within charts. Also added data going back 6 months for the baltic dry-bulk panamax indexes: P2A: Gulf/Atlantic-Japan P2A: PNW/Pacific-Japan...
Regulated Competition; Market Disoriented; Hugging Ecuador
Regulated Competition The global pig meat surplus has been building at nearly 3 percent per year and EU Agriculture Commissioner Janusz Wojciechowski has a plan to stop it. He wants to reduce intensive pig farming in member states like Belgium, Denmark and the Netherlands. These countries produ...
Trade Policy Developments; African Risk; Travel Wars
Trade Policy Developments President Trump has obliquely renewed his threat to initiate a trade war against Europe if the two sides do not arrive at a satisfactory new trade agreement. His budget increased funding for USTR by 11.1 percent to better enable the agency’s war fighting capabili...
WASDE Soyoil
The soybean oil price forecast is lowered 0.5 cents to 33.5 cents per pound. Global oilseed production is raised 2.2 million tons to 576.8 million, with higher soybean, sunflowerseed, and cottonseed production. Partly offsetting is lower palm kernel production. Palm kernel and palm...
WASDE Corn
USDA reports that 2019/20 U.S. corn had offsetting changes to exports and corn used for ethanol. With no other use changes, U.S. corn ending stocks are unchanged from last month. The season-average corn price received by producers is also unchanged at $3.85 per bushel. Global...
WASDE Wheat
USDA reports that the only change for 2019/20 U.S. wheat is a 25 million bushel increase in exports reflecting growing competitiveness in international markets. Ending stocks are cut by a corresponding amount and are now forecast to total 940 million bushels, a five-year low. ...
Target Europe; India’s Special Pass
Target Europe The frustration with Europe in the Trump Administration is palpable. China has been viewed as unfair competition but out of design. It was a poorer country overly granted concessions that must now be clawed back. By contrast, Europe is viewed as manipulative, taking what should be...
Southeast Europe Regional Analysis
Regional News China’s coronavirus continues to cloud the outlook for Black Sea exports to the country, though Ukrainian officials have recently indicated they don’t expect long-term disruptions from the disease. Officials did, however, note that some exports have been constrained du...
Small Won’t Win, Big Takes Time; China Virus Perspective
Small Won’t Win, Big Takes Time Trade Commissioner Phil Hogan met yesterday with USTR Robert Lighthizer and an EU spokesman described the talks as “constructive.” That might have also been the official description of their meeting three weeks ago when each side drew lines in t...
Phase One Breakdown; EU/UK Breakdown; Plant Protection Addiction; U.S. – Africa Approach
Phase One Breakdown Ukraine just sold 15 cargoes of soybeans to China and officials in Kiev say they do not expect the coronavirus to impact their grain exports to the Middle Kingdom. Yet, China has forewarned that the coronavirus may cause it to reduce ag purchases from the U.S. Further dampen...
Partial Analysis; WTO Repeated Error; China’s Virus Problem
Partial Analysis The EU undergoes a WTO trade policy review this week in Geneva and Maria Cipollina and Luca Salvatici write in the European Review of Agricultural Economics that the trading block’s tariffs have greatly redirected agricultural imports. The pair correctly note that agricul...
FOB Prices and Freight Rate App (Updated 18 February)
Update for 18 February 2020: New Data Added!! WPI has expanded the data offerings in this app to include DDGS, Sorghum, Soymeal, Corn Gluten Meal, Corn Gluent Feed Pellets, and additional FOB price indications for corn and soybeans. All other routes/offers updated through the day's close. ...
Interactive Ocean Freight Rates (Updated 18 February)
Data Updated Through: 18 February 2020 New Features: Added 6 month, 1 year, 2 year, YTD, and "All" data selectors for easier navigation within charts. Also added data going back 6 months for the baltic dry-bulk panamax indexes: P2A: Gulf/Atlantic-Japan P2A: PNW/Pacific-Japan...
Regulated Competition; Market Disoriented; Hugging Ecuador
Regulated Competition The global pig meat surplus has been building at nearly 3 percent per year and EU Agriculture Commissioner Janusz Wojciechowski has a plan to stop it. He wants to reduce intensive pig farming in member states like Belgium, Denmark and the Netherlands. These countries produ...
Trade Policy Developments; African Risk; Travel Wars
Trade Policy Developments President Trump has obliquely renewed his threat to initiate a trade war against Europe if the two sides do not arrive at a satisfactory new trade agreement. His budget increased funding for USTR by 11.1 percent to better enable the agency’s war fighting capabili...
WASDE Soyoil
The soybean oil price forecast is lowered 0.5 cents to 33.5 cents per pound. Global oilseed production is raised 2.2 million tons to 576.8 million, with higher soybean, sunflowerseed, and cottonseed production. Partly offsetting is lower palm kernel production. Palm kernel and palm...
WASDE Corn
USDA reports that 2019/20 U.S. corn had offsetting changes to exports and corn used for ethanol. With no other use changes, U.S. corn ending stocks are unchanged from last month. The season-average corn price received by producers is also unchanged at $3.85 per bushel. Global...
WASDE Wheat
USDA reports that the only change for 2019/20 U.S. wheat is a 25 million bushel increase in exports reflecting growing competitiveness in international markets. Ending stocks are cut by a corresponding amount and are now forecast to total 940 million bushels, a five-year low. ...
Target Europe; India’s Special Pass
Target Europe The frustration with Europe in the Trump Administration is palpable. China has been viewed as unfair competition but out of design. It was a poorer country overly granted concessions that must now be clawed back. By contrast, Europe is viewed as manipulative, taking what should be...
Southeast Europe Regional Analysis
Regional News China’s coronavirus continues to cloud the outlook for Black Sea exports to the country, though Ukrainian officials have recently indicated they don’t expect long-term disruptions from the disease. Officials did, however, note that some exports have been constrained du...
Small Won’t Win, Big Takes Time; China Virus Perspective
Small Won’t Win, Big Takes Time Trade Commissioner Phil Hogan met yesterday with USTR Robert Lighthizer and an EU spokesman described the talks as “constructive.” That might have also been the official description of their meeting three weeks ago when each side drew lines in t...
Phase One Breakdown; EU/UK Breakdown; Plant Protection Addiction; U.S. – Africa Approach
Phase One Breakdown Ukraine just sold 15 cargoes of soybeans to China and officials in Kiev say they do not expect the coronavirus to impact their grain exports to the Middle Kingdom. Yet, China has forewarned that the coronavirus may cause it to reduce ag purchases from the U.S. Further dampen...