World Perspectives

Recent Macroeconomics Analysis

feed-grains soy-oilseeds wheat

Market Commentary

Today was mildly volatile in the market with closing gains limited to soyoil and ethanol, purportedly due to their relationship to elevated petroleum prices. But that is a loose association in a market where overall demand has practically collapsed. Higher petroleum prices can be helpful in ord...

feed-grains soy-oilseeds wheat

Market Commentary

The CBOT was focused on USDA’s two major reports that were issued at noon today – the Planting Intentions report and the quarterly Grain Stocks report. The acreage figure and grain stocks numbers were bearish corn and bullish soybeans, while the wheat numbers were mostly in-line wit...

feed-grains soy-oilseeds wheat

Market Commentary

The CBOT mostly followed the crude oil market lower with corn breaking from recent support as funds were net sellers. Commercial pricing activity was active on the break as end users took advantage of low prices ahead of what could be a bullish report. Mostly, the trade was focused on position...

feed-grains soy-oilseeds wheat

Ag Review - March 2020

WPI's monthly publication features a review of the past month's market and policy developments. This month we look at the impact of the coronavirus, the remaking of our food systems, technology in agriculture, insights from China and South America and more. We also remember WPI founder Carole B...

The Economics of Flu

Inclusive Costs (NBER Working Paper No. 22137; March 2016): This study included former Treasury Secretary Lawrence H. Summers and found that a large pandemic imposed the same inclusive economic costs as global warming - $570 billion/year. Collective Action (NBER Working Paper No. 17195; July 20...

feed-grains soy-oilseeds wheat

Market Commentary

CBOT markets were called to open lower on a mix of profit taking and lack of fundamental news, and futures responded accordingly. The CBOT was weaker through most of the day amid some testing of support levels, unwinding of spreads (particularly wheat/corn and soymeal/soyoil), and, of course, p...

feed-grains soy-oilseeds wheat

Waste a Crisis

Chicago Mayor Rahm Emanuel famously said, “You never let a serious crisis go to waste.” Farmers embraced that message and demanded compensation for falling commodity prices that they blamed on the coronavirus. A Wall Street Journal article last week cited a 10 percent drop in corn p...

feed-grains soy-oilseeds wheat

Market Commentary

The CBOT opened with soymeal jumping higher and soybeans and wheat posting strong inverses. Corn opened lower and traded a lackluster session overnight. After the morning session opened, the soy complex and wheat markets continued to rally, and soymeal explosively so. Soybean stocks at Chinese...

Virus Economic Impact

How the economy and consumers react to the coronavirus will be important to the food and agriculture sector. A large economic decline like the Great Recession beginning in September 2008 caused the stock market to continue losing money until March of 2009. That means that any single day’s...

livestock

Sorting Through the COVID Policy Responses, Including MFP

As he U.S. enters its second week of lockdowns, emergency declarations, limited commerce, etc., President Trump tweeted this today: WE CANNOT LET THE CURE BE WORSE THAN THE PROBLEM ITSELF. AT THE END OF THE 15 DAY PERIOD, WE WILL MAKE A DECISION AS TO WHICH WAY WE WANT TO GO! The “15 Days...

Current Food System Resiliency

Supply chain experts say there is ample food in the system despite the initial surge in purchasing by consumers worried about coronavirus lockdowns. For shelf-stable products, there is at least eight to ten months’ worth of supply in warehouses; perishables are obviously less abundant. So...

feed-grains soy-oilseeds wheat

Market Commentary

To paraphrase Mark Twain, if you don’t like the prices, just wait a few minutes. The market was called higher and it went there right out of the box. All major contracts closed in the green with impressive gains in soymeal and the SRW and HRW contracts. Notably, volume was only above the...

feed-grains soy-oilseeds wheat

Market Commentary

Today was mildly volatile in the market with closing gains limited to soyoil and ethanol, purportedly due to their relationship to elevated petroleum prices. But that is a loose association in a market where overall demand has practically collapsed. Higher petroleum prices can be helpful in ord...

feed-grains soy-oilseeds wheat

Market Commentary

The CBOT was focused on USDA’s two major reports that were issued at noon today – the Planting Intentions report and the quarterly Grain Stocks report. The acreage figure and grain stocks numbers were bearish corn and bullish soybeans, while the wheat numbers were mostly in-line wit...

feed-grains soy-oilseeds wheat

Market Commentary

The CBOT mostly followed the crude oil market lower with corn breaking from recent support as funds were net sellers. Commercial pricing activity was active on the break as end users took advantage of low prices ahead of what could be a bullish report. Mostly, the trade was focused on position...

feed-grains soy-oilseeds wheat

Ag Review - March 2020

WPI's monthly publication features a review of the past month's market and policy developments. This month we look at the impact of the coronavirus, the remaking of our food systems, technology in agriculture, insights from China and South America and more. We also remember WPI founder Carole B...

The Economics of Flu

Inclusive Costs (NBER Working Paper No. 22137; March 2016): This study included former Treasury Secretary Lawrence H. Summers and found that a large pandemic imposed the same inclusive economic costs as global warming - $570 billion/year. Collective Action (NBER Working Paper No. 17195; July 20...

feed-grains soy-oilseeds wheat

Market Commentary

CBOT markets were called to open lower on a mix of profit taking and lack of fundamental news, and futures responded accordingly. The CBOT was weaker through most of the day amid some testing of support levels, unwinding of spreads (particularly wheat/corn and soymeal/soyoil), and, of course, p...

feed-grains soy-oilseeds wheat

Waste a Crisis

Chicago Mayor Rahm Emanuel famously said, “You never let a serious crisis go to waste.” Farmers embraced that message and demanded compensation for falling commodity prices that they blamed on the coronavirus. A Wall Street Journal article last week cited a 10 percent drop in corn p...

feed-grains soy-oilseeds wheat

Market Commentary

The CBOT opened with soymeal jumping higher and soybeans and wheat posting strong inverses. Corn opened lower and traded a lackluster session overnight. After the morning session opened, the soy complex and wheat markets continued to rally, and soymeal explosively so. Soybean stocks at Chinese...

Virus Economic Impact

How the economy and consumers react to the coronavirus will be important to the food and agriculture sector. A large economic decline like the Great Recession beginning in September 2008 caused the stock market to continue losing money until March of 2009. That means that any single day’s...

livestock

Sorting Through the COVID Policy Responses, Including MFP

As he U.S. enters its second week of lockdowns, emergency declarations, limited commerce, etc., President Trump tweeted this today: WE CANNOT LET THE CURE BE WORSE THAN THE PROBLEM ITSELF. AT THE END OF THE 15 DAY PERIOD, WE WILL MAKE A DECISION AS TO WHICH WAY WE WANT TO GO! The “15 Days...

Current Food System Resiliency

Supply chain experts say there is ample food in the system despite the initial surge in purchasing by consumers worried about coronavirus lockdowns. For shelf-stable products, there is at least eight to ten months’ worth of supply in warehouses; perishables are obviously less abundant. So...

feed-grains soy-oilseeds wheat

Market Commentary

To paraphrase Mark Twain, if you don’t like the prices, just wait a few minutes. The market was called higher and it went there right out of the box. All major contracts closed in the green with impressive gains in soymeal and the SRW and HRW contracts. Notably, volume was only above the...

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