World Perspectives

Recent India Analysis

Currency Manipulation; Phase One Intentions; India Recognizing Ag Policy Constraints

Currency Manipulation Goldman Sachs is warning that the U.S. dollar’s dominance as the global reserve currency is at risk. Threats include inflation, political uncertainty and debt/slow economic growth related to the coronavirus. The U.S. dollar has fallen over 10 percent in value since t...

livestock

Cattlemen Dinged on Leather

The COVID-19 pandemic has slowed demand for fashion generally and this has reverberated to the leather industry. The hide, which is the largest component of slaughter’s byproducts, only adds about 3 percent to a rancher’s income but has nonetheless been important. A glut of hides in...

Phase One Status; Small Beer

Phase One Status China’s Foreign Ministry yesterday said it remains committed to the Phase One trade deal it reached with the U.S. but warned it will respond to “bullying” from Washington. The International Food Policy Research Institute (IFPRI) calculates that China has purch...

soy-oilseeds

WASDE Soyoil

The 2020/21 global oilseed supply and demand forecasts include lower production, lower exports, higher crush, and lower ending stocks compared to last month.  USDA reduced global oilseed production by 2.0 million tons to 604.2 million on lower rapeseed, cottonseed, and soybean production.&...

soy-oilseeds

WASDE Soymeal

USDA raised U.S. soybean crush by 15 million bushels - reflecting an increase in domestic soybean meal disappearance which is raised in line with an increase for 2019/20.  With projections for exports unchanged, 2020/21 soybean ending stocks are increased 30 million bushels to 425 million...

soy-oilseeds

WASDE Soybeans

USDA’s outlook for U.S. soybean production is at 4.14 billion bushels, up 10 million on increased harvested area.  Harvested area, forecast at 83.0 million acres in the June 30 Acreage report, is up 0.2 million from last month.  The soybean yield forecast is unchanged at 49.8 bu...

wheat

WASDE Wheat

USDA’s outlook for 2020/21 U.S. wheat is for larger supplies, lower domestic use, unchanged exports, and increased stocks.  Supplies are raised as larger beginning stocks more than offset lower production.   Beginning stocks are increased on the NASS Grain Stocks report, is...

feed-grains soy-oilseeds wheat

Market Commentary

The CBOT was mostly lower on Wednesday with favorable U.S. weather providing little incentive to remain bullish corn or soybeans. Wheat futures were mostly lower following yesterday’s jump higher but still held technical support. U.S. equities and macro markets were sharply weaker on Wedn...

feed-grains soy-oilseeds wheat

Market Commentary

Monday’s CBOT trade was quiet with corn leading to the downside as funds continue to be net sellers. Soybean futures traded a mixed day with early short covering in soymeal offering support. Wheat future are looking for a bottom and may have found one with the market rallying 3-4 cents th...

Challenging COVID Subsidies; Wheat’s Weapon

Challenging COVID Subsidies There has been an increase in the use of agricultural subsidies by several countries and that is especially true as governments this year have been fighting the adverse impacts of the coronavirus. Increased subsidies by China and India have been successfully challeng...

livestock

Dairy Everywhere

Milk producers express more angst over the economic situation than other commodity producers, yet their production is largely inline with consumption. For the three largest global milk makers, India has actually increased consumption to match production. The other two large producers are the EU...

soy-oilseeds

WASDE Soyoil

USDA estimates that U.S. soyoil production and ending stocks will be higher in 2020/21.  Total global oilseed supply and demand forecasts are for slightly higher production and lower ending stocks compared to last month.  The price forecast is unchanged for U.S. soyoil...

soy-oilseeds

WASDE Soymeal

USDA raised the 2019/20 soybean crush by 15 million bushels - reflecting increased domestic soybean meal use.  The price forecast is unchanged for U.S. soymeal...

soy-oilseeds

WASDE Soybeans

USDA estimates higher U.S. soybean crush will fully offset an increase in beginning stocks and cause a decline in U.S. soybean ending stocks to 395 million bushels for the 2020/21 crop year. Global 2020/21 soybean ending stocks are lowered 2.1 million tons to 96.3 million.  The p...

wheat

WASDE Wheat

USDA estimates U.S. wheat production at 1,877 million bushels. Total domestic supplies are raised 16 million to 3,000 million bushels.  World 2020/21 wheat supplies are raised 5.7 million tons on a 4.9-million-ton production increase and higher beginning stocks.   India’s c...

soy-oilseeds

Oilseed Highlights: U.S. Soy Export Sales; India’s Vegoil Imports; Chinese Uncertainty

U.S. Soy Export Sales Highlights This week has been an active one for U.S. soybean export sales to China and unknown destination. USDA reported soybean export sales totaling 570,000 MT since 29 May. Of that amount 306,000 MT are reported as sold for unknown destinations and 264,000 MT haven bee...

Trade Managed by China; India Tiptoes Reform

Trade Managed by China Australia Trade Minister Simon Birmingham said that government is looking carefully to see if the U.S. – China Phase One trade agreement is resulting in “managed trade” that is violating the rules of the WTO. Well the agreement is certainly managed trade...

feed-grains wheat soy-oilseeds

Rice as Laggard

It was noted yesterday that the growth in global production of wheat has tracked population growth whereas corn and soybeans have expanded exponentially more. Wheat is predominantly a food grain whereas corn and soybeans have fed the expanding animal protein sector. Rice is also predominantly a...

soy-oilseeds

Oilseed Highlights: Argentine Soy; U.S.- China Friction; Indian Vegoil Tariffs; EU Rapeseed

Argentine Farmers Continue to Reduce Soybean Sales Argentina’s farmers continue to hold back on selling their new crop of soybeans and selling less of their old crop compared to a year ago. Instead of selling they are holding on to their crop in expectation of a devaluation of the Argenti...

soy-oilseeds

Falling Out of Favor

The EU is the largest consumer of rapeseed, followed by China, Canada and India. Its use in number three Canada and number four India has been rising, but it has declined in the EU and China. China has of course taken up soybeans, where consumption has been expanding at 4.42 percent per year. T...

soy-oilseeds

WASDE Soyoil

USDA Estimates – U.S. soybean oil prices are forecast at 29.0 cents per pound, up 0.5 cents from 2019/20...

soy-oilseeds

WASDE Soymeal

USDA Estimates - U.S. soybean meal prices are forecast at $290 per short ton, down $10.00 from 2019/20.  ...

soy-oilseeds

Oilseed Highlights: Soy Export Sales; Difficult Time for Soy Processors; Sunoil Versus Soyoil

U.S. Soy Export Highlights The week ending 30 April was not a good one for U.S. soy exports. Sales of soybeans, soymeal and soyoil for shipment in 2019/20 were all down from the previous week. Net soybean exports sales last week for 2019/20 shipment totaled 653,100 MT. That was down by 39 perce...

livestock soy-oilseeds feed-grains

India Hurts its Own Dairy Market

There is a global abundance of grain and oilseeds and while meat animals are being euthanized due to a lack of slaughter capacity and total production is declining, dairy production has not faltered in the same way. This means that corn, DDGs and soymeal should increasingly find a home in dairy...

Currency Manipulation; Phase One Intentions; India Recognizing Ag Policy Constraints

Currency Manipulation Goldman Sachs is warning that the U.S. dollar’s dominance as the global reserve currency is at risk. Threats include inflation, political uncertainty and debt/slow economic growth related to the coronavirus. The U.S. dollar has fallen over 10 percent in value since t...

livestock

Cattlemen Dinged on Leather

The COVID-19 pandemic has slowed demand for fashion generally and this has reverberated to the leather industry. The hide, which is the largest component of slaughter’s byproducts, only adds about 3 percent to a rancher’s income but has nonetheless been important. A glut of hides in...

Phase One Status; Small Beer

Phase One Status China’s Foreign Ministry yesterday said it remains committed to the Phase One trade deal it reached with the U.S. but warned it will respond to “bullying” from Washington. The International Food Policy Research Institute (IFPRI) calculates that China has purch...

soy-oilseeds

WASDE Soyoil

The 2020/21 global oilseed supply and demand forecasts include lower production, lower exports, higher crush, and lower ending stocks compared to last month.  USDA reduced global oilseed production by 2.0 million tons to 604.2 million on lower rapeseed, cottonseed, and soybean production.&...

soy-oilseeds

WASDE Soymeal

USDA raised U.S. soybean crush by 15 million bushels - reflecting an increase in domestic soybean meal disappearance which is raised in line with an increase for 2019/20.  With projections for exports unchanged, 2020/21 soybean ending stocks are increased 30 million bushels to 425 million...

soy-oilseeds

WASDE Soybeans

USDA’s outlook for U.S. soybean production is at 4.14 billion bushels, up 10 million on increased harvested area.  Harvested area, forecast at 83.0 million acres in the June 30 Acreage report, is up 0.2 million from last month.  The soybean yield forecast is unchanged at 49.8 bu...

wheat

WASDE Wheat

USDA’s outlook for 2020/21 U.S. wheat is for larger supplies, lower domestic use, unchanged exports, and increased stocks.  Supplies are raised as larger beginning stocks more than offset lower production.   Beginning stocks are increased on the NASS Grain Stocks report, is...

feed-grains soy-oilseeds wheat

Market Commentary

The CBOT was mostly lower on Wednesday with favorable U.S. weather providing little incentive to remain bullish corn or soybeans. Wheat futures were mostly lower following yesterday’s jump higher but still held technical support. U.S. equities and macro markets were sharply weaker on Wedn...

feed-grains soy-oilseeds wheat

Market Commentary

Monday’s CBOT trade was quiet with corn leading to the downside as funds continue to be net sellers. Soybean futures traded a mixed day with early short covering in soymeal offering support. Wheat future are looking for a bottom and may have found one with the market rallying 3-4 cents th...

Challenging COVID Subsidies; Wheat’s Weapon

Challenging COVID Subsidies There has been an increase in the use of agricultural subsidies by several countries and that is especially true as governments this year have been fighting the adverse impacts of the coronavirus. Increased subsidies by China and India have been successfully challeng...

livestock

Dairy Everywhere

Milk producers express more angst over the economic situation than other commodity producers, yet their production is largely inline with consumption. For the three largest global milk makers, India has actually increased consumption to match production. The other two large producers are the EU...

soy-oilseeds

WASDE Soyoil

USDA estimates that U.S. soyoil production and ending stocks will be higher in 2020/21.  Total global oilseed supply and demand forecasts are for slightly higher production and lower ending stocks compared to last month.  The price forecast is unchanged for U.S. soyoil...

soy-oilseeds

WASDE Soymeal

USDA raised the 2019/20 soybean crush by 15 million bushels - reflecting increased domestic soybean meal use.  The price forecast is unchanged for U.S. soymeal...

soy-oilseeds

WASDE Soybeans

USDA estimates higher U.S. soybean crush will fully offset an increase in beginning stocks and cause a decline in U.S. soybean ending stocks to 395 million bushels for the 2020/21 crop year. Global 2020/21 soybean ending stocks are lowered 2.1 million tons to 96.3 million.  The p...

wheat

WASDE Wheat

USDA estimates U.S. wheat production at 1,877 million bushels. Total domestic supplies are raised 16 million to 3,000 million bushels.  World 2020/21 wheat supplies are raised 5.7 million tons on a 4.9-million-ton production increase and higher beginning stocks.   India’s c...

soy-oilseeds

Oilseed Highlights: U.S. Soy Export Sales; India’s Vegoil Imports; Chinese Uncertainty

U.S. Soy Export Sales Highlights This week has been an active one for U.S. soybean export sales to China and unknown destination. USDA reported soybean export sales totaling 570,000 MT since 29 May. Of that amount 306,000 MT are reported as sold for unknown destinations and 264,000 MT haven bee...

Trade Managed by China; India Tiptoes Reform

Trade Managed by China Australia Trade Minister Simon Birmingham said that government is looking carefully to see if the U.S. – China Phase One trade agreement is resulting in “managed trade” that is violating the rules of the WTO. Well the agreement is certainly managed trade...

feed-grains wheat soy-oilseeds

Rice as Laggard

It was noted yesterday that the growth in global production of wheat has tracked population growth whereas corn and soybeans have expanded exponentially more. Wheat is predominantly a food grain whereas corn and soybeans have fed the expanding animal protein sector. Rice is also predominantly a...

soy-oilseeds

Oilseed Highlights: Argentine Soy; U.S.- China Friction; Indian Vegoil Tariffs; EU Rapeseed

Argentine Farmers Continue to Reduce Soybean Sales Argentina’s farmers continue to hold back on selling their new crop of soybeans and selling less of their old crop compared to a year ago. Instead of selling they are holding on to their crop in expectation of a devaluation of the Argenti...

soy-oilseeds

Falling Out of Favor

The EU is the largest consumer of rapeseed, followed by China, Canada and India. Its use in number three Canada and number four India has been rising, but it has declined in the EU and China. China has of course taken up soybeans, where consumption has been expanding at 4.42 percent per year. T...

soy-oilseeds

WASDE Soyoil

USDA Estimates – U.S. soybean oil prices are forecast at 29.0 cents per pound, up 0.5 cents from 2019/20...

soy-oilseeds

WASDE Soymeal

USDA Estimates - U.S. soybean meal prices are forecast at $290 per short ton, down $10.00 from 2019/20.  ...

soy-oilseeds

Oilseed Highlights: Soy Export Sales; Difficult Time for Soy Processors; Sunoil Versus Soyoil

U.S. Soy Export Highlights The week ending 30 April was not a good one for U.S. soy exports. Sales of soybeans, soymeal and soyoil for shipment in 2019/20 were all down from the previous week. Net soybean exports sales last week for 2019/20 shipment totaled 653,100 MT. That was down by 39 perce...

livestock soy-oilseeds feed-grains

India Hurts its Own Dairy Market

There is a global abundance of grain and oilseeds and while meat animals are being euthanized due to a lack of slaughter capacity and total production is declining, dairy production has not faltered in the same way. This means that corn, DDGs and soymeal should increasingly find a home in dairy...

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