Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Iran’s Chabahar port has been granted an exemption from the U.S. sanctions placed on that country. The exemption is said to cover port use for Afghanistan-related goods and also extends to the Iran/Afghanistan railway corridor. India has...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Russia and Syria are reportedly about to cooperate on a wheat hub in the latter country for the Middle Eastern wheat import markets. This project will mean an expansion of ports there with added grain storage and transshipment facilities along...
China Offers Sugar High; U.S. Midterms to Disappoint; Future Biotech Rules; Sorry UK/Midterm Survey
China Offers Sugar High Western commercial companies are participating, but G-7 governments are skipping out on China’s International Import Expo in Shanghai this week. China is offering to import more products from abroad, and several African countries are excited about that. However, We...
Mercosur Regional Analysis
Soybeans Market Overview The soybean market remained bearish last week with Chinese buyers quiet and Brazilian sellers trying to sell their old crop long positions. Adding to this, last Thursday President Trump tweeted that he had been talking with China’s President Xi Jiping about ending...
Market Commentary
Soybean futures were up as much as 18-20 cents overnight on follow-through buying from yesterday’s strength. The market, however, cooled off just before the session’s close on news reports that yesterday’s talk of renewed conversations with China weren’t really true. Cor...
Ag Review - October 2018
WPI's monthly publication features analyses of U.S. agribusiness, U.S. soybean marketing strategies, the U.S. biofuels industry, the global outlook for farm inputs, and policy trends. It also provides a review of agribusiness stock prices along with expectations for future performance...
Changing World Wheat Trade
The news late last week that GASC bought a 60,000 MT cargo of U.S. SRW seemed to cause only a brief stir in the market despite this being the first such purchase in at least a year. The agency also bought six cargoes of Russian wheat and one of Ukrainian. The U.S. SRW was priced FOB at $219/MT...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS The latest USDA-FAS report on Jordan indicates the country will import 1.1 MMT of wheat in 2018/19 along with 750,000 MT of barley and 800,000 MT of corn. The wheat is entirely for flout milling, while the barley and corn are intended for anim...
Wheat: A One-Day Wonder
The announcement last Friday that Egypt bought U.S. wheat for the first time since May 2017 sent a bullish message to wheat futures that day, and the resulting very strong session sent them back up into almost neutral territory from a technical standpoint. The bullish message was that U.S. whea...
Market Commentary
Wheat, corn and soybean futures were higher overnight. Chicago wheat traded as much as a dime higher with corn and soybeans up 3-4 cents and 6-8 cents, respectively. Overnight volume was nothing special, and none of the buying surfaced in today’s session. In fact, those same futures all t...
Mercosur Regional Analysis
Soybeans Market Overview Interestingly, soybean basis started to drop quickly last week for nearby shipments after several weeks of a stronger old crop market. The collapse started in Argentina with exporters trying to buy demand and offers suddenly posted at 180X FOB for November shipment. Ear...
Market Commentary
Markets firmed up overnight with wheat trading 5-6 cents higher following yesterday’s big sell-off. Wheat then took off sharply higher in the first hour of trading this morning. The strength was attributed to a report that U.S. wheat was among the cheapest offers to Egypt. Corn followed w...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Iran’s Chabahar port has been granted an exemption from the U.S. sanctions placed on that country. The exemption is said to cover port use for Afghanistan-related goods and also extends to the Iran/Afghanistan railway corridor. India has...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Russia and Syria are reportedly about to cooperate on a wheat hub in the latter country for the Middle Eastern wheat import markets. This project will mean an expansion of ports there with added grain storage and transshipment facilities along...
China Offers Sugar High; U.S. Midterms to Disappoint; Future Biotech Rules; Sorry UK/Midterm Survey
China Offers Sugar High Western commercial companies are participating, but G-7 governments are skipping out on China’s International Import Expo in Shanghai this week. China is offering to import more products from abroad, and several African countries are excited about that. However, We...
Mercosur Regional Analysis
Soybeans Market Overview The soybean market remained bearish last week with Chinese buyers quiet and Brazilian sellers trying to sell their old crop long positions. Adding to this, last Thursday President Trump tweeted that he had been talking with China’s President Xi Jiping about ending...
Market Commentary
Soybean futures were up as much as 18-20 cents overnight on follow-through buying from yesterday’s strength. The market, however, cooled off just before the session’s close on news reports that yesterday’s talk of renewed conversations with China weren’t really true. Cor...
Ag Review - October 2018
WPI's monthly publication features analyses of U.S. agribusiness, U.S. soybean marketing strategies, the U.S. biofuels industry, the global outlook for farm inputs, and policy trends. It also provides a review of agribusiness stock prices along with expectations for future performance...
Changing World Wheat Trade
The news late last week that GASC bought a 60,000 MT cargo of U.S. SRW seemed to cause only a brief stir in the market despite this being the first such purchase in at least a year. The agency also bought six cargoes of Russian wheat and one of Ukrainian. The U.S. SRW was priced FOB at $219/MT...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS The latest USDA-FAS report on Jordan indicates the country will import 1.1 MMT of wheat in 2018/19 along with 750,000 MT of barley and 800,000 MT of corn. The wheat is entirely for flout milling, while the barley and corn are intended for anim...
Wheat: A One-Day Wonder
The announcement last Friday that Egypt bought U.S. wheat for the first time since May 2017 sent a bullish message to wheat futures that day, and the resulting very strong session sent them back up into almost neutral territory from a technical standpoint. The bullish message was that U.S. whea...
Market Commentary
Wheat, corn and soybean futures were higher overnight. Chicago wheat traded as much as a dime higher with corn and soybeans up 3-4 cents and 6-8 cents, respectively. Overnight volume was nothing special, and none of the buying surfaced in today’s session. In fact, those same futures all t...
Mercosur Regional Analysis
Soybeans Market Overview Interestingly, soybean basis started to drop quickly last week for nearby shipments after several weeks of a stronger old crop market. The collapse started in Argentina with exporters trying to buy demand and offers suddenly posted at 180X FOB for November shipment. Ear...
Market Commentary
Markets firmed up overnight with wheat trading 5-6 cents higher following yesterday’s big sell-off. Wheat then took off sharply higher in the first hour of trading this morning. The strength was attributed to a report that U.S. wheat was among the cheapest offers to Egypt. Corn followed w...