FOB Prices and Freight Rate App (Updated 19 April)
Ocean Freight Comments - 19 April 2024 By Matt Herrington Spot dry-bulk freight markets remain weak amid dull April demand but rates are improving for May and June with improved interest in booking cargoes. Chinese demand for iron ore and coal has improved and bolstered capesize rates while gra...
Interactive Ocean Freight Rates (Updated 19 April)
Ocean Freight Comments - 19 April 2024 By Matt Herrington Spot dry-bulk freight markets remain weak amid dull April demand but rates are improving for May and June with improved interest in booking cargoes. Chinese demand for iron ore and coal has improved and bolstered capesize rates while gra...
WASDE Soybeans
USDA increased U.S. soybean ending stocks for 2023/24 by 25 million bushels to 340 million. The U.S. season-average soybean price for 2023/24 is forecast at $12.55 per bushel, down 10 cents. Soybean meal and oil prices are unchanged at $380 per short ton and 49 cents per pound, respectively. Gl...
WASDE Wheat
USDA raised U.S. wheat ending stocks for 2023/24 by 25 million bushels to 698 million, 22 percent above last year. The season-average farm price is reduced $0.05 per bushel to $7.10. The 2023/24 global wheat outlook this month is for smaller ending stocks, down 0.6 million metric tons to...
Wrong at the Top; Happy Talk
Wrong at the Top We admit as private policy analysts that sometimes we add 1+1 and get three. It turns out top government officials can make the same mistake. USDA Secretary Tom Vilsack had mused aloud that China could be buying Brazilian corn and not U.S. corn in retaliation for state-level re...
Food and IT Arrogance; Intentional Trade Policy
Food and IT Arrogance The EU was supposed to issue an updated “protein strategy” early this year but it has been postponed until perhaps late this summer. Its political leaders are flustered that two-thirds of the Continent’s high-quality protein and most of its soybeans are i...
European Market Analysis
Regional News Tunisia purchased 75 KMT of soft wheat at prices of $233.25-329.90/MT C&F along with 50 KMT of hard wheat at $383.93-384.48/MT C&F for May delivery. Jordan purchased 60 KMT of feed barley from an unspecified origin at $232.95/MT C&F. Morocco plans to...
European Market Analysis
Regional News Through 29 March, Ukraine has exported 35.593 MMT of grain for MY 2023/24, below the 37.382 MMT exported during the same period the prior year. Wheat exports total 13.7 MMT, barley shipments reached 1.962 MMT, and corn exports total 18.6 MMT. Egypt’s state-owned GASC p...
European Market Analysis
Regional News Russia’s grain stocks at the end of February totaled 28 MMT, down 2.7 percent compared to the prior year. Wheat stocks of 17.5 MMT were up 1.1 percent from February 2023 while corn stocks fell 10 percent over that period to 2.9 MMT. Oilseed stocks totaled 4 MMT (up 5 p...
Cahiers Redux – Politicians Recoil
The Cahiers de doléances [or kaje for short] were the pre-French revolution (1789) lists of societal complaints. The collective disappointments of the clergy, the nobility, and the rest of society too. Nothing has changed. Documents of the time cite the criticisms as: government waste, i...
European Market Analysis
Regional News The EU Commission is proposing new support measures for farmers after widespread protests rocked the region in recent weeks. Farmers were pushing back against the suite of regulations aimed at making European farming more climate friendly. Russia attacked the Ukrainian port...
WASDE Wheat
Wheat: USDA’s March estimate is that U.S. ending stocks are increased 673 million bushels and are 18 percent higher than last year. The season-average U.S. farm price is reduced $0.05 per bushel to $7.15. The global wheat ending stocks are lowered 0.6 million tons to 258.8 million,...
Katy Bar the Door; Pursuing Food Sovereignty; USMCA Expansion
Katy Bar the Door Malaysia had filed a WTO dispute settlement case against the EU’s Renewable Energy Directive, arguing it is prejudicil in limiting the amount of imported palm oil that could qualify under the scheme. Brussels has pursued other ways to limit imports of palm oil from South...
Europe’s Mantel; Trade-less Trade Advisor
Europe’s Mantel Sans Viande: In three months, France will ban the use of “meat” when referring to meat alternative products. Since profits are in the adjective, meaning consumers will pay a premium for claims-based products such as geographic indicators, farmers in France have...
Market Commentary: Wheat Leads CBOT Rally on Short-Covering, Value Buying
The CBOT turned sharply higher after the three-day weekend with wheat leading the way on a surge in buying interest. Paris wheat started the rally with contracts there rebounded from new contract lows, and that strength spilled over into CBOT and KCBT futures as well. While little clear motivat...
Farm Bill Lacks Gravitas; Paying for Change
Farm Bill Lacks Gravitas Farmer protests appear to be exploding everywhere. Of course, in Europe where it is part of the profession. But in India as well where farmers are demanding higher minimum support process. Farmers in the U.S. also want higher guarantees for farm income. Commodity prices...
Farmer/Green Divide
The recent policy reversal in Europe on environmental obligations for farmers is not being welcomed by everyone. Greenpeace warns that excluding farms from emission reductions will ultimately hurt farmers as their crops fail under the burden of climate change. They are also warning that farmers...
European Market Analysis
Milling Wheat Wheat markets remain under pressure as Western Europe and Black Sea exports battle each other and the American markets for export demand. Paris Matif futures were sharply lower last week and scored new contract lows and a post-WASDE rally on Friday brought additional selling...
The Ashes of EU’s Greens; Redefining Consensus
The Ashes of EU’s Greens There is a lot of finger-pointing in Brussels over responsibility for originally drafting the Green Deal/Farm to Fork debacle, and now its withdrawal. The political nature of the whole exercise was illustrated by EU President Ursula von der Leyen’s rationale...
WASDE Wheat
USDA’s February estimate is for a slight increase in U.S. wheat ending stocks by 10 million bushels to 658 million for 2023/24. That is because food use is reduced 10 million bushels to 960 million, on lower wheat flour grinding - as indicated in the NASS Flour Milling Products report rel...
EU Sobers Up
The EU’s political leaders have made dramatic policy reversals in recent days that reflect a more reasoned approach than in the past. As noted previously, they have scrapped some of the Green Deal/Farm to Fork requirements like quitting pesticides, and today the EU Parliament (EP) approve...
European Market Analysis
Regional News European farmers are flexing their political muscles and proving just how much weight they carry with lawmakers. Farmers have been protesting all week across France, Spain, and Italy in response to various national and EU-level policies (e.g., Germany’s fuel subsidies)...
European Market Analysis
Regional News Turkey decided to reduce its import tax on sunflower seeds from 27 to 12 percent and on sunflower oil from 36 to 22 percent. Milling Wheat European wheat markets were mostly steady through Thursday last week, but Paris futures broke sharply lower on Friday. Europ...
NGT Controversy
Environmentalists in Europe are reportedly furious over the European Parliament’s Environment Committee approving the use of some new genomic techniques (NGTs) in an unregulated manner. One framing is that the conservative members of the Committee pushed it through, but conservatives comp...
EU Policy Developments; India PSH and MC-13; EPA Regulating Livestock
EU Policy Developments Farmer protests in Europe have increased and some credit the movement with softening Brussels’ views toward Ukrainian grain threatening producers in eastern Europe. However, farmers have also been protesting the Green Deal/Farm to Fork and efforts to change the way...
European Market Analysis
Regional News Wheat shipments through the Suez Canal have fallen 40 percent in the first half of January, due to the ongoing Houthi rebel attacks in the Red Sea and Gulf of Aden. Crop consultants report limited damage to waterlogged winter crops in France and Germany from the recent...
Not Magnanimous; Transatlantic Tech Divide; Advice for Europe
Not Magnanimous An AgriPulse poll of geographically dispersed farmers from across the U.S. with at least $100,000 in gross annual income reflects some greed but low compassion. As commodity values decline, farmers want higher reference prices to ensure income support from the government. They w...
Transatlantic Commonality; Argentina’s NTB’s
Transatlantic Commonality Politico’s senior foreign correspondent Nahal Toosi noted that ambassadors in Washington are warning that U.S. power and influence in the world is declining due to the nation’s intense partisan political divide. But it is not exactly glory days in Europe. F...
Value of Scale Recognized
Agriculture ministers from five EU countries (Bulgaria, Poland, Romania, Hungary, and Slovakia) are asking the European Commission to come up with a solution to the harm they say is being caused by imports of grain from Ukraine. One option is to impose tariffs on Ukraine. However, it is their a...
WASDE Wheat
USDA reduced the 2023/24 season-average U.S. farm price of wheat by $0.10 lower to $7.20 per bushel. The global wheat outlook for 2023/24 is for larger ending stocks compared with last month. Global supplies are raised 3.6 million tons to 1,056.5 million. Increased stocks for Russia, Ukraine, a...
European Market Analysis
Regional News Europe has faced heavy rains and dramatic storms in recent weeks that are causing profound concerns for winter crops. While the rain has refilled depleted soil moisture profiles, it could cause signifcant quality issues for the winter wheat crop and damage winter rapeseed an...
2023: A Look Back in Humor
Note, the following is an attempt to summarize 2023’s major developments in ag markets and U.S. and world politics while injecting humor. Obviously, not everything is 100% factually “correct” and we leave it to you to determine fact from (hopefully) humorous fiction. Jan...
Geopolitical Shocks in 2024
Most reviews of the year 2023 characterize the period as tumultuous, largely due to the wars in Ukraine and the Middle East, coups in Africa driven by gold mining, plus western tensions with China. Now the outlook for 2024 is being framed as scarier still. The wars and tensions continue but add...
2024 Meat Forecast
There are several pundits predicting this is the year that evidences the rise in consumption of plant-based proteins and the end of meat from animals. These same prognosticators may have made the same forecasts last year, and the year before. Maybe but the dynamic is unlikely to be true for dev...
European Market Analysis
Regional News In its latest crop monitoring bulletin, the EU Commission’s MARS division noted few to no negative impacts on winter crops from the sudden shift to cold temperatures after a wet autumn. Crops were still vulnerable to frost after the warmer-than-normal fall conditions,...
Not Walking the Talk; Music Protectionism; North-South Divide
Not Walking the Talk The European Environmental Agency has assessed the EU’s commitments and concludes that the goal of reducing emissions 55 percent from 1990 levels by 2030 can be achieved. However, most others will not. One of the farthest from progress is designed to address land use...
EU Reveals Export Future; Swiss Choose Expensive Food
EU Reveals Export Future The fundamental debate in Geneva between agricultural exporting countries and developing countries is domestic support versus market access. The perfect quid pro quo is rich countries reduce support and developing countries grant market access. Developing countries cann...
Hobbling AI; Chinese Spin; F2F Setback
Hobbling AI The EU has neared agreement on doing what it does best, regulating. This time its target is artificial intelligence. France and Germany were reluctant participants because they have their own startup AI companies and didn’t want to hobble them. Regulatory hobbling from Brussel...
EU-Mercosur Deal Smooshed
The multi-year effort to negotiate a trade agreement between the EU and Mercosur appears to have run into too many hurdles on both sides of the Atlantic. France is a key blocker in Europe, with claims that the environmental provisions are not tough enough on South America. Argentina said it was...
European Market Analysis
Regional News On 1 December, Bulgaria lifted its import ban on four agricultural products (wheat, corn sunflower seed, and rapeseed) from Ukraine. Last week, Russia announced an export quota for grains of 24 MMT for 15 February through 30 June 2024, which would imply monthly exports...
Green and Brown Collide
Last week’s win in the Netherlands by Gert Wilders was a stunning refutation of the Green Deal. The policy’s former protagonist in the EU Commission, Frans Timmermans, was relegated to a minority role with just seventeen seats. He had left his Commission position with the idea of ru...
European Market Analysis
Regional News Russia has shipped two vessels of wheat to Somalia and Burkina Faso as part of the country’s promise to send free grain to Africa. China purchased 66 KMT of feed corn from Ukraine at $248/MT C&F for December shipment. Through 24 November, Ukraine has ex...
African Farming; European Farming
African Farming This is said to be the African Century. Over half the world’s population growth to 2050 will come from that region of the world. Yet its agriculture is woefully unable to feed the current population, let alone where it is headed. The average yield for maize this year in Af...
European Market Analysis
Regional News After a rainy winter crop planting season, Europe’s weather looks to finally change to favor fieldwork in the next week. The 7-day forecast offers below-normal precipitation for the UK, Spain, and France with near-normal volumes for Germany and southeast Europe. Temper...
Over-greening Bees; China versus Labor; Farm Policy
Over-greening Bees In 2018 we were all warned that a third or more of our food supply was being threatened by the struggles facing bees. Europe focused on insect pollinator health, including banning (with exceptions of course) neonicotinoid pesticides as a threat to pollinators. American resear...
European Market Analysis
Through 9 November, Ukraine’s grain harvest reached 90 percent of the total area and spanned 9.84 million hectares (MHa). The total crop is 51.275 MMT, of which corn production has hit 21.22 MMT and the harvest is 72 percent complete. Sunflower seed production has hit 11.52 MMT and just 3...
WASDE Soybeans
Soybeans: USDA’s outlook for 2023/24 is higher U.S. ending stocks, up 25 million on higher yields, to 245 million bushels. The U.S. season-average soybean price for 2023/24 is forecast at $12.90 per bushel, unchanged from last month. The soybean oil price was reduced 2.0 cents to 61.0 cen...
WASDE Wheat
Wheat: USDA’s outlook for 2023/24 is for higher U.S. ending stocks by 14 million bushels to 684 million. The projected 2023/24 season-average U.S. farm price is lowered $0.10 per bushel to $7.20. The global wheat outlook for 2023/24 is for larger ending stocks, raised 0.6 million, to tons...
FOB Prices and Freight Rate App (Updated 19 April)
Ocean Freight Comments - 19 April 2024 By Matt Herrington Spot dry-bulk freight markets remain weak amid dull April demand but rates are improving for May and June with improved interest in booking cargoes. Chinese demand for iron ore and coal has improved and bolstered capesize rates while gra...
Interactive Ocean Freight Rates (Updated 19 April)
Ocean Freight Comments - 19 April 2024 By Matt Herrington Spot dry-bulk freight markets remain weak amid dull April demand but rates are improving for May and June with improved interest in booking cargoes. Chinese demand for iron ore and coal has improved and bolstered capesize rates while gra...
WASDE Soybeans
USDA increased U.S. soybean ending stocks for 2023/24 by 25 million bushels to 340 million. The U.S. season-average soybean price for 2023/24 is forecast at $12.55 per bushel, down 10 cents. Soybean meal and oil prices are unchanged at $380 per short ton and 49 cents per pound, respectively. Gl...
WASDE Wheat
USDA raised U.S. wheat ending stocks for 2023/24 by 25 million bushels to 698 million, 22 percent above last year. The season-average farm price is reduced $0.05 per bushel to $7.10. The 2023/24 global wheat outlook this month is for smaller ending stocks, down 0.6 million metric tons to...
Wrong at the Top; Happy Talk
Wrong at the Top We admit as private policy analysts that sometimes we add 1+1 and get three. It turns out top government officials can make the same mistake. USDA Secretary Tom Vilsack had mused aloud that China could be buying Brazilian corn and not U.S. corn in retaliation for state-level re...
Food and IT Arrogance; Intentional Trade Policy
Food and IT Arrogance The EU was supposed to issue an updated “protein strategy” early this year but it has been postponed until perhaps late this summer. Its political leaders are flustered that two-thirds of the Continent’s high-quality protein and most of its soybeans are i...
European Market Analysis
Regional News Tunisia purchased 75 KMT of soft wheat at prices of $233.25-329.90/MT C&F along with 50 KMT of hard wheat at $383.93-384.48/MT C&F for May delivery. Jordan purchased 60 KMT of feed barley from an unspecified origin at $232.95/MT C&F. Morocco plans to...
European Market Analysis
Regional News Through 29 March, Ukraine has exported 35.593 MMT of grain for MY 2023/24, below the 37.382 MMT exported during the same period the prior year. Wheat exports total 13.7 MMT, barley shipments reached 1.962 MMT, and corn exports total 18.6 MMT. Egypt’s state-owned GASC p...
European Market Analysis
Regional News Russia’s grain stocks at the end of February totaled 28 MMT, down 2.7 percent compared to the prior year. Wheat stocks of 17.5 MMT were up 1.1 percent from February 2023 while corn stocks fell 10 percent over that period to 2.9 MMT. Oilseed stocks totaled 4 MMT (up 5 p...
Cahiers Redux – Politicians Recoil
The Cahiers de doléances [or kaje for short] were the pre-French revolution (1789) lists of societal complaints. The collective disappointments of the clergy, the nobility, and the rest of society too. Nothing has changed. Documents of the time cite the criticisms as: government waste, i...
European Market Analysis
Regional News The EU Commission is proposing new support measures for farmers after widespread protests rocked the region in recent weeks. Farmers were pushing back against the suite of regulations aimed at making European farming more climate friendly. Russia attacked the Ukrainian port...
WASDE Wheat
Wheat: USDA’s March estimate is that U.S. ending stocks are increased 673 million bushels and are 18 percent higher than last year. The season-average U.S. farm price is reduced $0.05 per bushel to $7.15. The global wheat ending stocks are lowered 0.6 million tons to 258.8 million,...
Katy Bar the Door; Pursuing Food Sovereignty; USMCA Expansion
Katy Bar the Door Malaysia had filed a WTO dispute settlement case against the EU’s Renewable Energy Directive, arguing it is prejudicil in limiting the amount of imported palm oil that could qualify under the scheme. Brussels has pursued other ways to limit imports of palm oil from South...
Europe’s Mantel; Trade-less Trade Advisor
Europe’s Mantel Sans Viande: In three months, France will ban the use of “meat” when referring to meat alternative products. Since profits are in the adjective, meaning consumers will pay a premium for claims-based products such as geographic indicators, farmers in France have...
Market Commentary: Wheat Leads CBOT Rally on Short-Covering, Value Buying
The CBOT turned sharply higher after the three-day weekend with wheat leading the way on a surge in buying interest. Paris wheat started the rally with contracts there rebounded from new contract lows, and that strength spilled over into CBOT and KCBT futures as well. While little clear motivat...
Farm Bill Lacks Gravitas; Paying for Change
Farm Bill Lacks Gravitas Farmer protests appear to be exploding everywhere. Of course, in Europe where it is part of the profession. But in India as well where farmers are demanding higher minimum support process. Farmers in the U.S. also want higher guarantees for farm income. Commodity prices...
Farmer/Green Divide
The recent policy reversal in Europe on environmental obligations for farmers is not being welcomed by everyone. Greenpeace warns that excluding farms from emission reductions will ultimately hurt farmers as their crops fail under the burden of climate change. They are also warning that farmers...
European Market Analysis
Milling Wheat Wheat markets remain under pressure as Western Europe and Black Sea exports battle each other and the American markets for export demand. Paris Matif futures were sharply lower last week and scored new contract lows and a post-WASDE rally on Friday brought additional selling...
The Ashes of EU’s Greens; Redefining Consensus
The Ashes of EU’s Greens There is a lot of finger-pointing in Brussels over responsibility for originally drafting the Green Deal/Farm to Fork debacle, and now its withdrawal. The political nature of the whole exercise was illustrated by EU President Ursula von der Leyen’s rationale...
WASDE Wheat
USDA’s February estimate is for a slight increase in U.S. wheat ending stocks by 10 million bushels to 658 million for 2023/24. That is because food use is reduced 10 million bushels to 960 million, on lower wheat flour grinding - as indicated in the NASS Flour Milling Products report rel...
EU Sobers Up
The EU’s political leaders have made dramatic policy reversals in recent days that reflect a more reasoned approach than in the past. As noted previously, they have scrapped some of the Green Deal/Farm to Fork requirements like quitting pesticides, and today the EU Parliament (EP) approve...
European Market Analysis
Regional News European farmers are flexing their political muscles and proving just how much weight they carry with lawmakers. Farmers have been protesting all week across France, Spain, and Italy in response to various national and EU-level policies (e.g., Germany’s fuel subsidies)...
European Market Analysis
Regional News Turkey decided to reduce its import tax on sunflower seeds from 27 to 12 percent and on sunflower oil from 36 to 22 percent. Milling Wheat European wheat markets were mostly steady through Thursday last week, but Paris futures broke sharply lower on Friday. Europ...
NGT Controversy
Environmentalists in Europe are reportedly furious over the European Parliament’s Environment Committee approving the use of some new genomic techniques (NGTs) in an unregulated manner. One framing is that the conservative members of the Committee pushed it through, but conservatives comp...
EU Policy Developments; India PSH and MC-13; EPA Regulating Livestock
EU Policy Developments Farmer protests in Europe have increased and some credit the movement with softening Brussels’ views toward Ukrainian grain threatening producers in eastern Europe. However, farmers have also been protesting the Green Deal/Farm to Fork and efforts to change the way...
European Market Analysis
Regional News Wheat shipments through the Suez Canal have fallen 40 percent in the first half of January, due to the ongoing Houthi rebel attacks in the Red Sea and Gulf of Aden. Crop consultants report limited damage to waterlogged winter crops in France and Germany from the recent...
Not Magnanimous; Transatlantic Tech Divide; Advice for Europe
Not Magnanimous An AgriPulse poll of geographically dispersed farmers from across the U.S. with at least $100,000 in gross annual income reflects some greed but low compassion. As commodity values decline, farmers want higher reference prices to ensure income support from the government. They w...
Transatlantic Commonality; Argentina’s NTB’s
Transatlantic Commonality Politico’s senior foreign correspondent Nahal Toosi noted that ambassadors in Washington are warning that U.S. power and influence in the world is declining due to the nation’s intense partisan political divide. But it is not exactly glory days in Europe. F...
Value of Scale Recognized
Agriculture ministers from five EU countries (Bulgaria, Poland, Romania, Hungary, and Slovakia) are asking the European Commission to come up with a solution to the harm they say is being caused by imports of grain from Ukraine. One option is to impose tariffs on Ukraine. However, it is their a...
WASDE Wheat
USDA reduced the 2023/24 season-average U.S. farm price of wheat by $0.10 lower to $7.20 per bushel. The global wheat outlook for 2023/24 is for larger ending stocks compared with last month. Global supplies are raised 3.6 million tons to 1,056.5 million. Increased stocks for Russia, Ukraine, a...
European Market Analysis
Regional News Europe has faced heavy rains and dramatic storms in recent weeks that are causing profound concerns for winter crops. While the rain has refilled depleted soil moisture profiles, it could cause signifcant quality issues for the winter wheat crop and damage winter rapeseed an...
2023: A Look Back in Humor
Note, the following is an attempt to summarize 2023’s major developments in ag markets and U.S. and world politics while injecting humor. Obviously, not everything is 100% factually “correct” and we leave it to you to determine fact from (hopefully) humorous fiction. Jan...
Geopolitical Shocks in 2024
Most reviews of the year 2023 characterize the period as tumultuous, largely due to the wars in Ukraine and the Middle East, coups in Africa driven by gold mining, plus western tensions with China. Now the outlook for 2024 is being framed as scarier still. The wars and tensions continue but add...
2024 Meat Forecast
There are several pundits predicting this is the year that evidences the rise in consumption of plant-based proteins and the end of meat from animals. These same prognosticators may have made the same forecasts last year, and the year before. Maybe but the dynamic is unlikely to be true for dev...
European Market Analysis
Regional News In its latest crop monitoring bulletin, the EU Commission’s MARS division noted few to no negative impacts on winter crops from the sudden shift to cold temperatures after a wet autumn. Crops were still vulnerable to frost after the warmer-than-normal fall conditions,...
Not Walking the Talk; Music Protectionism; North-South Divide
Not Walking the Talk The European Environmental Agency has assessed the EU’s commitments and concludes that the goal of reducing emissions 55 percent from 1990 levels by 2030 can be achieved. However, most others will not. One of the farthest from progress is designed to address land use...
EU Reveals Export Future; Swiss Choose Expensive Food
EU Reveals Export Future The fundamental debate in Geneva between agricultural exporting countries and developing countries is domestic support versus market access. The perfect quid pro quo is rich countries reduce support and developing countries grant market access. Developing countries cann...
Hobbling AI; Chinese Spin; F2F Setback
Hobbling AI The EU has neared agreement on doing what it does best, regulating. This time its target is artificial intelligence. France and Germany were reluctant participants because they have their own startup AI companies and didn’t want to hobble them. Regulatory hobbling from Brussel...
EU-Mercosur Deal Smooshed
The multi-year effort to negotiate a trade agreement between the EU and Mercosur appears to have run into too many hurdles on both sides of the Atlantic. France is a key blocker in Europe, with claims that the environmental provisions are not tough enough on South America. Argentina said it was...
European Market Analysis
Regional News On 1 December, Bulgaria lifted its import ban on four agricultural products (wheat, corn sunflower seed, and rapeseed) from Ukraine. Last week, Russia announced an export quota for grains of 24 MMT for 15 February through 30 June 2024, which would imply monthly exports...
Green and Brown Collide
Last week’s win in the Netherlands by Gert Wilders was a stunning refutation of the Green Deal. The policy’s former protagonist in the EU Commission, Frans Timmermans, was relegated to a minority role with just seventeen seats. He had left his Commission position with the idea of ru...
European Market Analysis
Regional News Russia has shipped two vessels of wheat to Somalia and Burkina Faso as part of the country’s promise to send free grain to Africa. China purchased 66 KMT of feed corn from Ukraine at $248/MT C&F for December shipment. Through 24 November, Ukraine has ex...
African Farming; European Farming
African Farming This is said to be the African Century. Over half the world’s population growth to 2050 will come from that region of the world. Yet its agriculture is woefully unable to feed the current population, let alone where it is headed. The average yield for maize this year in Af...
European Market Analysis
Regional News After a rainy winter crop planting season, Europe’s weather looks to finally change to favor fieldwork in the next week. The 7-day forecast offers below-normal precipitation for the UK, Spain, and France with near-normal volumes for Germany and southeast Europe. Temper...
Over-greening Bees; China versus Labor; Farm Policy
Over-greening Bees In 2018 we were all warned that a third or more of our food supply was being threatened by the struggles facing bees. Europe focused on insect pollinator health, including banning (with exceptions of course) neonicotinoid pesticides as a threat to pollinators. American resear...
European Market Analysis
Through 9 November, Ukraine’s grain harvest reached 90 percent of the total area and spanned 9.84 million hectares (MHa). The total crop is 51.275 MMT, of which corn production has hit 21.22 MMT and the harvest is 72 percent complete. Sunflower seed production has hit 11.52 MMT and just 3...
WASDE Soybeans
Soybeans: USDA’s outlook for 2023/24 is higher U.S. ending stocks, up 25 million on higher yields, to 245 million bushels. The U.S. season-average soybean price for 2023/24 is forecast at $12.90 per bushel, unchanged from last month. The soybean oil price was reduced 2.0 cents to 61.0 cen...
WASDE Wheat
Wheat: USDA’s outlook for 2023/24 is for higher U.S. ending stocks by 14 million bushels to 684 million. The projected 2023/24 season-average U.S. farm price is lowered $0.10 per bushel to $7.20. The global wheat outlook for 2023/24 is for larger ending stocks, raised 0.6 million, to tons...