Recent Livestock Analysis
Market Commentary
CBOT markets were sharply higher overnight after news of a pending U.S.-China trade deal. Soybeans posted an amazing 13½ cent overnight gain while corn finished the night session up 5½ cents. Wheat added 3-5 cents in similarly enthusiastic trade. The day session saw prices m...
Summary of Futures
Mar 20 Corn closed at $3.81/bushel, up $0.0325 from yesterday's close. Mar 20 Wheat closed at $5.325/bushel, up $0.0225 from yesterday's close. Jan 20 Soybeans closed at $9.075/bushel, up $0.0925 from yesterday's close. Jan 20 Soymeal closed at $296.9/short ton, up $2.7 from y...
Getting to $50 Billion
The draft agreement between Washington and Beijing reportedly calls for China to purchase $50 billion worth of agricultural products from the U.S. in 2020. That would be a 291 percent increase from 2019, or a 92 percent increase from the pre-war year of 2017. One would expect China to have adde...
Market Commentary
Markets were lower overnight, and the expectation was for more of the same when the sun rose but politics and fundamentals combined to give Chicago a shot in the arm. The fundamental change included the largest corn export sales in a long time, and a peace offering to China by the White House p...
Livestock Round Up
FDA on Feedlots? It looks like the cell cultured meat-inspired debate over how the FDA and the Food Inspection Safety Service (FSIS) should share jurisdiction of food safety may not stop in the laboratory. Representative Rosa DeLauro (D-Connecticut), a longtime critic of the meat and poul...
Summary of Futures
Mar 20 Corn closed at $3.7775/bushel, up $0.065 from yesterday's close. Mar 20 Wheat closed at $5.3025/bushel, up $0.11 from yesterday's close. Jan 20 Soybeans closed at $8.9825/bushel, up $0.0475 from yesterday's close. Jan 20 Soymeal closed at $294.2/short ton, down $0.8 fro...
Summary of Futures
Mar 20 Corn closed at $3.7125/bushel, down $0.0575 from yesterday's close. Mar 20 Wheat closed at $5.1925/bushel, down $0.045 from yesterday's close. Jan 20 Soybeans closed at $8.935/bushel, down $0.0775 from yesterday's close. Jan 20 Soymeal closed at $295/short ton, down $3...
Market Commentary
Post-December WASDE trade was mostly lower with trade activity rising well above the dismal volumes of yesterday. The markets opened as called with grains moving lower from the start and soybeans initially trading higher. The surprise of the day session, however, was the early turn lower in the...
Meat Suppliers Gain
Basic demand analysis correlates income growth with population increases and provides producers and marketers with a good understanding of the likely consumption pattern going forward. This is particularly true for animal proteins since they are more sensitive to income and to demographics. You...
China In-Country Analysis
Macroeconomics November Food Inflation Hits Highest Level Since May 2008 Food prices for this past November surged by 19.1 percent compared with November 2018. Since last February, monthly food inflation has now risen for nine straight months and has surpassed double digits from August onward...
Market Commentary
The December WASDE is typically a non-event and today’s report was no different. Typically, there are few changes to be made to the U.S. balance sheets and, even with this year’s extreme weather/harvest delays, USDA is more likely to adjust harvest acres/yields in the January WASDE...
Summary of Futures
Mar 20 Corn closed at $3.77/bushel, up $0.0125 from yesterday's close. Mar 20 Wheat closed at $5.2375/bushel, up $0.01 from yesterday's close. Jan 20 Soybeans closed at $9.0125/bushel, up $0.04 from yesterday's close. Jan 20 Soymeal closed at $298.7/short ton, up $0.2 from yes...
Market Commentary
CBOT markets were sharply higher overnight after news of a pending U.S.-China trade deal. Soybeans posted an amazing 13½ cent overnight gain while corn finished the night session up 5½ cents. Wheat added 3-5 cents in similarly enthusiastic trade. The day session saw prices m...
Summary of Futures
Mar 20 Corn closed at $3.81/bushel, up $0.0325 from yesterday's close. Mar 20 Wheat closed at $5.325/bushel, up $0.0225 from yesterday's close. Jan 20 Soybeans closed at $9.075/bushel, up $0.0925 from yesterday's close. Jan 20 Soymeal closed at $296.9/short ton, up $2.7 from y...
Getting to $50 Billion
The draft agreement between Washington and Beijing reportedly calls for China to purchase $50 billion worth of agricultural products from the U.S. in 2020. That would be a 291 percent increase from 2019, or a 92 percent increase from the pre-war year of 2017. One would expect China to have adde...
Market Commentary
Markets were lower overnight, and the expectation was for more of the same when the sun rose but politics and fundamentals combined to give Chicago a shot in the arm. The fundamental change included the largest corn export sales in a long time, and a peace offering to China by the White House p...
Livestock Round Up
FDA on Feedlots? It looks like the cell cultured meat-inspired debate over how the FDA and the Food Inspection Safety Service (FSIS) should share jurisdiction of food safety may not stop in the laboratory. Representative Rosa DeLauro (D-Connecticut), a longtime critic of the meat and poul...
Summary of Futures
Mar 20 Corn closed at $3.7775/bushel, up $0.065 from yesterday's close. Mar 20 Wheat closed at $5.3025/bushel, up $0.11 from yesterday's close. Jan 20 Soybeans closed at $8.9825/bushel, up $0.0475 from yesterday's close. Jan 20 Soymeal closed at $294.2/short ton, down $0.8 fro...
Summary of Futures
Mar 20 Corn closed at $3.7125/bushel, down $0.0575 from yesterday's close. Mar 20 Wheat closed at $5.1925/bushel, down $0.045 from yesterday's close. Jan 20 Soybeans closed at $8.935/bushel, down $0.0775 from yesterday's close. Jan 20 Soymeal closed at $295/short ton, down $3...
Market Commentary
Post-December WASDE trade was mostly lower with trade activity rising well above the dismal volumes of yesterday. The markets opened as called with grains moving lower from the start and soybeans initially trading higher. The surprise of the day session, however, was the early turn lower in the...
Meat Suppliers Gain
Basic demand analysis correlates income growth with population increases and provides producers and marketers with a good understanding of the likely consumption pattern going forward. This is particularly true for animal proteins since they are more sensitive to income and to demographics. You...
China In-Country Analysis
Macroeconomics November Food Inflation Hits Highest Level Since May 2008 Food prices for this past November surged by 19.1 percent compared with November 2018. Since last February, monthly food inflation has now risen for nine straight months and has surpassed double digits from August onward...
Market Commentary
The December WASDE is typically a non-event and today’s report was no different. Typically, there are few changes to be made to the U.S. balance sheets and, even with this year’s extreme weather/harvest delays, USDA is more likely to adjust harvest acres/yields in the January WASDE...
Summary of Futures
Mar 20 Corn closed at $3.77/bushel, up $0.0125 from yesterday's close. Mar 20 Wheat closed at $5.2375/bushel, up $0.01 from yesterday's close. Jan 20 Soybeans closed at $9.0125/bushel, up $0.04 from yesterday's close. Jan 20 Soymeal closed at $298.7/short ton, up $0.2 from yes...