World Perspectives

Recent Macroeconomics Analysis

feed-grains soy-oilseeds wheat

Ag Review - May 2020

WPI's monthly publication features a review of the past month's market and policy developments. This issue looks at the COVID-19 impact on workers in the food sector, the interrelationship between supply/demand and exchange rates, developments in the Middle East, North Africa and China, details...

feed-grains soy-oilseeds

Dalian Futures Market Analysis

Monthly Summary April Activity Shows Market Volatility Easing Post Shutdown The novel coronavirus outbreak and lengthy shutdown across China sent the futures markets to new heights in terms of trading activity during the first four months of 2020. For the first quarter, only No. 2 soybeans and...

Inside the Food and Ag Economy

Seaboard, a relatively smaller meat processor, reported that 22 percent of its employees tested positive for the COVID-19 virus. That is not too far behind New York City where 25 percent of the population tested positive. Meat packing is the largest employer in food manufacturing, absorbing nea...

China Speared Then Perhaps Retaliates; Comeback Economy

China Speared Then Perhaps Retaliates Presumptive Democratic presidential nominee Joe Biden’s accusation that his rival, President Trump, has been too soft on China has launched a campaign battle focused like a laser on Beijing. The rhetoric is heated, and China has to skillfully play a r...

Facebook Meat Math

A meme circulating on the internet, likely started by R-CALF, goes like this: Ok, a 1300-pound animal is bought for $0.95 per pound by the packers and 40 percent of the animal is waste, which leaves 780 pounds of meat. Now take that 780 pounds multiplied by the retail price of $7.79 per pound a...

Self-Quarantine Thoughts

We are sheltering in place during The Attack of Covid-19, listening to health experts and politicians debate responses to the spread of the disease. We are continually amazed at how many politicians and the political pundits who feed off them have, in just a few weeks, become experts in viral d...

livestock feed-grains soy-oilseeds

Direct Payments Coming, Purchases Creating Milk Bubble

The new $16 billion Coronavirus Food Assistance Program (CFAP) direct payments from USDA will be unveiled tomorrow. Payments are targeted to be made in late May or early June. Late last week USDA held webinars about the program; it was targeted for producers who do not deal with local FSA offic...

livestock

Recession Impact on Meat Consumption

As noted in the analysis on recession impacts on grain demand, the Great Recession is an imperfect proxy for predicting the impacts on the current global economic downturn. It may be more like the shock events of 9/11, Hurricane Katrina, or the 2011 Tōhoku earthquake and tsunami in Japan, but t...

feed-grains soy-oilseeds wheat

Market Commentary

The CBOT ended the week mixed on lackluster volume with encouraging near-term demand developments being outweighed by the May WASDE’s large supply forecasts. Soyoil led the soy complex higher but the NOPA report exerted bearish pressure on soymeal. Wheat futures turned lower under continu...

feed-grains soy-oilseeds wheat

A World of Grain

USDA released its May WASDE Tuesday. The May WASDE is always interesting since it includes USDA’s updated projections on U.S. and world supplies and demand for grains and the soy complex for the following new crop cycle as well as revised estimates for the current one. Obviously, it is ve...

feed-grains soy-oilseeds livestock

China In-Country Analysis

Macroeconomics Food Inflation Falls Below 15 Percent in April Average food prices for April increased year-on-year by 14.8 percent, down from 18.3 percent for March. This marks the smallest rise in food prices in the past seven months. Pork prices continued to be the primary driver of rising fo...

feed-grains livestock

Wildly Fluctuating Peas

Alternative proteins have become the rage in food processing, though there is now an argument that Americans have switched back to more traditional foods as a form of comfort during the current crisis. Alternatively, protein crops like peas should be higher in demand when traditional meat suppl...

feed-grains soy-oilseeds wheat

Ag Review - May 2020

WPI's monthly publication features a review of the past month's market and policy developments. This issue looks at the COVID-19 impact on workers in the food sector, the interrelationship between supply/demand and exchange rates, developments in the Middle East, North Africa and China, details...

feed-grains soy-oilseeds

Dalian Futures Market Analysis

Monthly Summary April Activity Shows Market Volatility Easing Post Shutdown The novel coronavirus outbreak and lengthy shutdown across China sent the futures markets to new heights in terms of trading activity during the first four months of 2020. For the first quarter, only No. 2 soybeans and...

Inside the Food and Ag Economy

Seaboard, a relatively smaller meat processor, reported that 22 percent of its employees tested positive for the COVID-19 virus. That is not too far behind New York City where 25 percent of the population tested positive. Meat packing is the largest employer in food manufacturing, absorbing nea...

China Speared Then Perhaps Retaliates; Comeback Economy

China Speared Then Perhaps Retaliates Presumptive Democratic presidential nominee Joe Biden’s accusation that his rival, President Trump, has been too soft on China has launched a campaign battle focused like a laser on Beijing. The rhetoric is heated, and China has to skillfully play a r...

Facebook Meat Math

A meme circulating on the internet, likely started by R-CALF, goes like this: Ok, a 1300-pound animal is bought for $0.95 per pound by the packers and 40 percent of the animal is waste, which leaves 780 pounds of meat. Now take that 780 pounds multiplied by the retail price of $7.79 per pound a...

Self-Quarantine Thoughts

We are sheltering in place during The Attack of Covid-19, listening to health experts and politicians debate responses to the spread of the disease. We are continually amazed at how many politicians and the political pundits who feed off them have, in just a few weeks, become experts in viral d...

livestock feed-grains soy-oilseeds

Direct Payments Coming, Purchases Creating Milk Bubble

The new $16 billion Coronavirus Food Assistance Program (CFAP) direct payments from USDA will be unveiled tomorrow. Payments are targeted to be made in late May or early June. Late last week USDA held webinars about the program; it was targeted for producers who do not deal with local FSA offic...

livestock

Recession Impact on Meat Consumption

As noted in the analysis on recession impacts on grain demand, the Great Recession is an imperfect proxy for predicting the impacts on the current global economic downturn. It may be more like the shock events of 9/11, Hurricane Katrina, or the 2011 Tōhoku earthquake and tsunami in Japan, but t...

feed-grains soy-oilseeds wheat

Market Commentary

The CBOT ended the week mixed on lackluster volume with encouraging near-term demand developments being outweighed by the May WASDE’s large supply forecasts. Soyoil led the soy complex higher but the NOPA report exerted bearish pressure on soymeal. Wheat futures turned lower under continu...

feed-grains soy-oilseeds wheat

A World of Grain

USDA released its May WASDE Tuesday. The May WASDE is always interesting since it includes USDA’s updated projections on U.S. and world supplies and demand for grains and the soy complex for the following new crop cycle as well as revised estimates for the current one. Obviously, it is ve...

feed-grains soy-oilseeds livestock

China In-Country Analysis

Macroeconomics Food Inflation Falls Below 15 Percent in April Average food prices for April increased year-on-year by 14.8 percent, down from 18.3 percent for March. This marks the smallest rise in food prices in the past seven months. Pork prices continued to be the primary driver of rising fo...

feed-grains livestock

Wildly Fluctuating Peas

Alternative proteins have become the rage in food processing, though there is now an argument that Americans have switched back to more traditional foods as a form of comfort during the current crisis. Alternatively, protein crops like peas should be higher in demand when traditional meat suppl...

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