World Perspectives

Recent Macroeconomics Analysis

Lack of Tourism Hurts Food

COVID-based economic lockdowns have broadly hurt economies around the world. Restaurant, entertainment, and airline sectors have been particularly wounded. The U.S. was the largest recipient of international tourism, though many other countries were larger on a per capita basis. Travel and tour...

World Food Day Perspective

Commodity prices have been on the rise and most of the attention until this week has been on the supply side with worries about weather. In recent days it has become clear that countries have stepped up purchasing as a hedge against a resurgence of COVID-breaking supply chains. However, supply...

feed-grains soy-oilseeds wheat

What a Difference a Year Can Make

In some manner every annual crop cycle is different from its predecessors even if those differences are small enough to fade from memory over time. However, the 2020/21 crop cycle has already clocked enough differences compared to the recent past to suggest it may become a more memorable one. T...

soy-oilseeds

Argentina DET Trouble

Argentina has used the differential export tax for many years to favor the export of processed soyoil and soymeal over soybeans. The policy supports an industrial base, and it allows taxation on higher value exports. However, it is not without its troubles. For one, it upsets farmers who conten...

The Legislative Sausage Making of COVID Relief

The on-again, off-again negotiations over the next round of COVID relief entered a new phase this week. The White House offered a compromise $1.8 trillion package that it would back in response to the House’s latest version that was passed totaling $2.2 trillion – a scaled down vers...

Worse than Agriculture

The agriculture sector is under strong criticism for its harm to the environment. Multilateral disciplines on agricultural subsidies are considered too weak, but at least they exist. The damage caused by subsidized fishing is less obvious to the layman because it lies under the sea. One study c...

soy-oilseeds feed-grains

Toward Virtuous Agriculture

Agriculture is being singled out for its deleterious impacts on the environment. The current popular target is deforestation, largely for its adverse impact on carbon sinking. Coincidentally, the problem threatens expanded agricultural production in countries like Malaysia and Brazil. Malaysia&...

livestock

Pick Your Poison

Given China’s pork shortage and its concurrent sensitivity to imports, some have speculated that pork has been entering the country, or is poised to, via unofficial pathways. Many countries are talking about shortening supply chains and increasing self-sufficiency. Taiwan went the opposit...

feed-grains soy-oilseeds wheat

Views from a Prisoner of COVID-19

Efforts to avoid the COVID-19 virus have forced us into what has become many weeks of home bound hibernation. We have plenty of time to ponder the world around us. Here are a few thoughts and observations rising from our forced isolation.  This week’s “debate” between the...

COVID Impacts – Real and Imagined

Researchers have combed the historical literature and warned about the impacts of COVID-19 but not all the predictions have proved accurate. As countries imposed travel bans, the WTO warned of broken supply chains. Now it says agriculture has fared better than industry with farm exports up 2.5...

feed-grains soy-oilseeds wheat

What Are Markets Saying?

The price action of modern commodity futures markets reflects the differing needs and opinions of a great many participating traders. Commercial interests buy and sell futures mostly to protect against adverse price movements of their long or short positions in the underlying physical commoditi...

livestock

U.S. Dairy Demand

The U.S. dairy industry has suffered supply/demand imbalances for decades, but the problem continues to be generated on the supply side of the equation. While the population has been growing at a little over one-half percent per year, cheese consumption has been expanding at a 2 percent annual...

Lack of Tourism Hurts Food

COVID-based economic lockdowns have broadly hurt economies around the world. Restaurant, entertainment, and airline sectors have been particularly wounded. The U.S. was the largest recipient of international tourism, though many other countries were larger on a per capita basis. Travel and tour...

World Food Day Perspective

Commodity prices have been on the rise and most of the attention until this week has been on the supply side with worries about weather. In recent days it has become clear that countries have stepped up purchasing as a hedge against a resurgence of COVID-breaking supply chains. However, supply...

feed-grains soy-oilseeds wheat

What a Difference a Year Can Make

In some manner every annual crop cycle is different from its predecessors even if those differences are small enough to fade from memory over time. However, the 2020/21 crop cycle has already clocked enough differences compared to the recent past to suggest it may become a more memorable one. T...

soy-oilseeds

Argentina DET Trouble

Argentina has used the differential export tax for many years to favor the export of processed soyoil and soymeal over soybeans. The policy supports an industrial base, and it allows taxation on higher value exports. However, it is not without its troubles. For one, it upsets farmers who conten...

The Legislative Sausage Making of COVID Relief

The on-again, off-again negotiations over the next round of COVID relief entered a new phase this week. The White House offered a compromise $1.8 trillion package that it would back in response to the House’s latest version that was passed totaling $2.2 trillion – a scaled down vers...

Worse than Agriculture

The agriculture sector is under strong criticism for its harm to the environment. Multilateral disciplines on agricultural subsidies are considered too weak, but at least they exist. The damage caused by subsidized fishing is less obvious to the layman because it lies under the sea. One study c...

soy-oilseeds feed-grains

Toward Virtuous Agriculture

Agriculture is being singled out for its deleterious impacts on the environment. The current popular target is deforestation, largely for its adverse impact on carbon sinking. Coincidentally, the problem threatens expanded agricultural production in countries like Malaysia and Brazil. Malaysia&...

livestock

Pick Your Poison

Given China’s pork shortage and its concurrent sensitivity to imports, some have speculated that pork has been entering the country, or is poised to, via unofficial pathways. Many countries are talking about shortening supply chains and increasing self-sufficiency. Taiwan went the opposit...

feed-grains soy-oilseeds wheat

Views from a Prisoner of COVID-19

Efforts to avoid the COVID-19 virus have forced us into what has become many weeks of home bound hibernation. We have plenty of time to ponder the world around us. Here are a few thoughts and observations rising from our forced isolation.  This week’s “debate” between the...

COVID Impacts – Real and Imagined

Researchers have combed the historical literature and warned about the impacts of COVID-19 but not all the predictions have proved accurate. As countries imposed travel bans, the WTO warned of broken supply chains. Now it says agriculture has fared better than industry with farm exports up 2.5...

feed-grains soy-oilseeds wheat

What Are Markets Saying?

The price action of modern commodity futures markets reflects the differing needs and opinions of a great many participating traders. Commercial interests buy and sell futures mostly to protect against adverse price movements of their long or short positions in the underlying physical commoditi...

livestock

U.S. Dairy Demand

The U.S. dairy industry has suffered supply/demand imbalances for decades, but the problem continues to be generated on the supply side of the equation. While the population has been growing at a little over one-half percent per year, cheese consumption has been expanding at a 2 percent annual...

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