Market Commentary
After featuring active trade and higher prices on Monday and Tuesday, grain and soybean markets paused to catch their breath today. Volume was restrained, and limited price action kept values near Tuesday’s closes. Following those rare occasions during the past few months when markets ral...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Egypt’s government is said to be disappointed in the country’s wheat production as it reportedly did not reflect the 12 percent increase in planted area. There were comments in some publications that the actual production was proba...
Trade War Language and Economic Impacts; Global Realignment; GIs; Africa
Trade War Language Us versus them, me (America First) and we. Donald Trump called the EU a foe this past weekend. He says he meant it in terms of competitors like the battle for market share between Airbus and Boeing. But the EU is not America’s “foe,” and the WTO is not an as...
Southeast Europe Regional Analysis
Milling Wheat The Black Sea market was weaker during most of last week due to harvest pressure. However, the downtrend was reversed on Thursday after publication of the USDA WASDE report and several other analysts’ bullish projections. USDA lowered the Russian and Ukrainian crops by 1.5 M...
Oilseed Highlights: July WASDE; U.S. Soy Sales
Key Oilseed Highlights in USDA WASDE Report To say USDA made major changes to its supply and distribution forecasts for the soybean sector in today’s WASDE report is an understatement. Following are key highlights from the report: MY 2017/18 U.S. soybean exports were raised by 20 million...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Hoboob, the Syrian grain agency, has reportedly bought 200,000 MT of soft wheat at $195/MT CNF. The sale is said to have been made by a Middle Eastern grain company with origin expected to be from the Black Sea. Comments in the trade are that...
Finding Alternate Export Markets for U.S. Soybeans
With the trade war officially underway, China is now assessing a 28 percent duty on imports of U.S. soybeans (the 25 percent retaliatory tariff plus the 3 percent tariff previously applied). While the U.S. normally exports a relatively slight amount there in July and August, it is only about tw...
Trade War Hyperbole; Merkel’s Marshall Mush
Trade War Hyperbole Equity markets around the world traded higher today even as pundits and newspaper headlines wailed about the trade war. Beijing will get roughed up rhetorically this week in Geneva as it goes through its biennial Trade Policy Review. What should concern Chinese leaders in th...
Mercosur Regional Analysis
Soybeans As has been widely reported, the U.S. imposed tariffs on specific Chinese imports on 6 July, and China reciprocated with retaliatory tariffs on soybeans and other American products. The market had already prepared for this by increasing Brazilian soybean basis and pushing CBOT futures...
Market Commentary
CME grain and soy markets closed early today for the U.S. holiday and will not reopen until 9:30 a.m. (EDT) Thursday. They are often quite volatile on the first trading day following the 4th of July due to the importance of weather conditions and forecasts for the rest of the month as well as d...
Agro-Energy Trade Remedy; Migration and Trade Solution; Strange Bedfellows; Cotton Subsidization
Agro-Energy Trade Remedy U.S. agriculture is being hurt by retaliation from other countries that have been targeted by the Trump administration’s trade policy objectives. As WPI analyst Mike Krueger has pointed out, the government cannot simply buy and take commodities off the market as t...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS It is reported in Egypt that 45,000 MT of Russian wheat were seized from local storage due to infestation. The wheat had entered the country several months ago and was stored near Alexandria on the Mediterranean. It is said to be for private s...
Market Commentary
After featuring active trade and higher prices on Monday and Tuesday, grain and soybean markets paused to catch their breath today. Volume was restrained, and limited price action kept values near Tuesday’s closes. Following those rare occasions during the past few months when markets ral...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Egypt’s government is said to be disappointed in the country’s wheat production as it reportedly did not reflect the 12 percent increase in planted area. There were comments in some publications that the actual production was proba...
Trade War Language and Economic Impacts; Global Realignment; GIs; Africa
Trade War Language Us versus them, me (America First) and we. Donald Trump called the EU a foe this past weekend. He says he meant it in terms of competitors like the battle for market share between Airbus and Boeing. But the EU is not America’s “foe,” and the WTO is not an as...
Southeast Europe Regional Analysis
Milling Wheat The Black Sea market was weaker during most of last week due to harvest pressure. However, the downtrend was reversed on Thursday after publication of the USDA WASDE report and several other analysts’ bullish projections. USDA lowered the Russian and Ukrainian crops by 1.5 M...
Oilseed Highlights: July WASDE; U.S. Soy Sales
Key Oilseed Highlights in USDA WASDE Report To say USDA made major changes to its supply and distribution forecasts for the soybean sector in today’s WASDE report is an understatement. Following are key highlights from the report: MY 2017/18 U.S. soybean exports were raised by 20 million...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Hoboob, the Syrian grain agency, has reportedly bought 200,000 MT of soft wheat at $195/MT CNF. The sale is said to have been made by a Middle Eastern grain company with origin expected to be from the Black Sea. Comments in the trade are that...
Finding Alternate Export Markets for U.S. Soybeans
With the trade war officially underway, China is now assessing a 28 percent duty on imports of U.S. soybeans (the 25 percent retaliatory tariff plus the 3 percent tariff previously applied). While the U.S. normally exports a relatively slight amount there in July and August, it is only about tw...
Trade War Hyperbole; Merkel’s Marshall Mush
Trade War Hyperbole Equity markets around the world traded higher today even as pundits and newspaper headlines wailed about the trade war. Beijing will get roughed up rhetorically this week in Geneva as it goes through its biennial Trade Policy Review. What should concern Chinese leaders in th...
Mercosur Regional Analysis
Soybeans As has been widely reported, the U.S. imposed tariffs on specific Chinese imports on 6 July, and China reciprocated with retaliatory tariffs on soybeans and other American products. The market had already prepared for this by increasing Brazilian soybean basis and pushing CBOT futures...
Market Commentary
CME grain and soy markets closed early today for the U.S. holiday and will not reopen until 9:30 a.m. (EDT) Thursday. They are often quite volatile on the first trading day following the 4th of July due to the importance of weather conditions and forecasts for the rest of the month as well as d...
Agro-Energy Trade Remedy; Migration and Trade Solution; Strange Bedfellows; Cotton Subsidization
Agro-Energy Trade Remedy U.S. agriculture is being hurt by retaliation from other countries that have been targeted by the Trump administration’s trade policy objectives. As WPI analyst Mike Krueger has pointed out, the government cannot simply buy and take commodities off the market as t...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS It is reported in Egypt that 45,000 MT of Russian wheat were seized from local storage due to infestation. The wheat had entered the country several months ago and was stored near Alexandria on the Mediterranean. It is said to be for private s...