China Naysayers; Liberalization Woke
China Naysayers As Washington and Beijing work toward completing a trade deal, it is clear that not all the U.S. objectives will be accomplished to the satisfaction of critics. However, indications are that it will involve more than just the eye candy of some guaranteed product sales. Given Pre...
USDA Receives Funding and Congressional Directives
Today the president signed the appropriations bill that will cover the remainder of FY 2019 (through 30 September). The package was passed yesterday in the House and Senate by a vote of 300-128 and 86-13, respectively. It provides a compromise agreement on border security measures, but the pres...
Market Commentary
Corn and soybean markets were just slightly firmer overnight with wheat slightly lower following yesterday’s fund-related sell-off. Today then saw corn and soybeans trading slightly lower with wheat getting hit fairly hard most of the morning. Wheat is again in a very weak technical posit...
Summary of Futures
Mar 19 Corn closed at $3.7475/bushel, up $0 from yesterday's close. Mar 19 Wheat closed at $5.0425/bushel, down $0.0275 from yesterday's close. Mar 19 Soybeans closed at $9.075/bushel, up $0.04 from yesterday's close. Mar 19 Soymeal closed at $306.5/short ton, up $1 from yeste...
More Things to Keep You Up at Night
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Thursday’s weekly USDA export sales report, which contained small totals for corn, wheat and soybeans along with sales cancellations of the latter to China, sent the markets reeling lower after its release. The initial weakness then triggered some significant technical selling, and the ma...
Market Commentary
Overnight futures trade was limited in volume and price movement. Wheat was slightly weaker, while corn and soybeans hung around Wednesday’s closes. News from talks in Beijing was sparse. President Trump apparently indicated he would agree to extend the negotiations for 60 days as long as...
Summer Supply Destruction; Bilking Consumers; Chinese Gambling; Beef with Beef
Summer Supply Destruction The nomination of Andrew Wheeler to become the EPA administrator is being held hostage by a bipartisan and powerful group of senators unless the agency quickly approves summertime use of E15 ethanol blended fuel. The EPA initially blamed the government shutdown for slo...
Volume and Value of Beef and Pork
U.S. beef exports hit record levels in 2018. However, tariffs reduced pork shipments, driving down values. These global demand dynamics are reflected in the domestic market. There they have supported the retail price of all fresh beef, which was up 3.1 percent in January versus the same month i...
Oilseed Highlights: U.S. Soy Export Sales; Argentine Soy Crop; U.S. Soy Plantings; Brazil and Crop Insurance; China’s Ag Focus
U.S. Soy Export Sales Anyone who expected today’s USDA export sales report for the week ending 3 January to be positive for the soybean sector had to be disappointed. Considering it included much of the period between Christmas and the New Year, it is not surprising the data was lower tha...
Export Sales
Wheat: Net sales of 131,200 metric tons for 2018/2019--marketing-year low--were down 78 percent from the previous week and 76 percent from the prior 4-week average. Corn: Net sales of 459,800 MT for 2018/2019 were down 9 percent from the previous week...
The Checkered Use of Tariffs
President Donald Trump, a self-declared “Tariff Man,” has made the threat and use of tariffs one of the chief operating mechanisms of his administration’s foreign and economic policies. He has said on numerous occasions that he “likes tariffs” and that they will he...
Summary of Futures
Mar 19 Corn closed at $3.7475/bushel, down $0.04 from yesterday's close. Mar 19 Wheat closed at $5.07/bushel, down $0.1525 from yesterday's close. Mar 19 Soybeans closed at $9.035/bushel, down $0.13 from yesterday's close. Mar 19 Soymeal closed at $305.5/short ton, down $4.6 f...
China Naysayers; Liberalization Woke
China Naysayers As Washington and Beijing work toward completing a trade deal, it is clear that not all the U.S. objectives will be accomplished to the satisfaction of critics. However, indications are that it will involve more than just the eye candy of some guaranteed product sales. Given Pre...
USDA Receives Funding and Congressional Directives
Today the president signed the appropriations bill that will cover the remainder of FY 2019 (through 30 September). The package was passed yesterday in the House and Senate by a vote of 300-128 and 86-13, respectively. It provides a compromise agreement on border security measures, but the pres...
Market Commentary
Corn and soybean markets were just slightly firmer overnight with wheat slightly lower following yesterday’s fund-related sell-off. Today then saw corn and soybeans trading slightly lower with wheat getting hit fairly hard most of the morning. Wheat is again in a very weak technical posit...
Summary of Futures
Mar 19 Corn closed at $3.7475/bushel, up $0 from yesterday's close. Mar 19 Wheat closed at $5.0425/bushel, down $0.0275 from yesterday's close. Mar 19 Soybeans closed at $9.075/bushel, up $0.04 from yesterday's close. Mar 19 Soymeal closed at $306.5/short ton, up $1 from yeste...
More Things to Keep You Up at Night
Thursday’s weekly USDA export sales report, which contained small totals for corn, wheat and soybeans along with sales cancellations of the latter to China, sent the markets reeling lower after its release. The initial weakness then triggered some significant technical selling, and the ma...
Market Commentary
Overnight futures trade was limited in volume and price movement. Wheat was slightly weaker, while corn and soybeans hung around Wednesday’s closes. News from talks in Beijing was sparse. President Trump apparently indicated he would agree to extend the negotiations for 60 days as long as...
Summer Supply Destruction; Bilking Consumers; Chinese Gambling; Beef with Beef
Summer Supply Destruction The nomination of Andrew Wheeler to become the EPA administrator is being held hostage by a bipartisan and powerful group of senators unless the agency quickly approves summertime use of E15 ethanol blended fuel. The EPA initially blamed the government shutdown for slo...
Volume and Value of Beef and Pork
U.S. beef exports hit record levels in 2018. However, tariffs reduced pork shipments, driving down values. These global demand dynamics are reflected in the domestic market. There they have supported the retail price of all fresh beef, which was up 3.1 percent in January versus the same month i...
Oilseed Highlights: U.S. Soy Export Sales; Argentine Soy Crop; U.S. Soy Plantings; Brazil and Crop Insurance; China’s Ag Focus
U.S. Soy Export Sales Anyone who expected today’s USDA export sales report for the week ending 3 January to be positive for the soybean sector had to be disappointed. Considering it included much of the period between Christmas and the New Year, it is not surprising the data was lower tha...
Export Sales
Wheat: Net sales of 131,200 metric tons for 2018/2019--marketing-year low--were down 78 percent from the previous week and 76 percent from the prior 4-week average. Corn: Net sales of 459,800 MT for 2018/2019 were down 9 percent from the previous week...
The Checkered Use of Tariffs
President Donald Trump, a self-declared “Tariff Man,” has made the threat and use of tariffs one of the chief operating mechanisms of his administration’s foreign and economic policies. He has said on numerous occasions that he “likes tariffs” and that they will he...
Summary of Futures
Mar 19 Corn closed at $3.7475/bushel, down $0.04 from yesterday's close. Mar 19 Wheat closed at $5.07/bushel, down $0.1525 from yesterday's close. Mar 19 Soybeans closed at $9.035/bushel, down $0.13 from yesterday's close. Mar 19 Soymeal closed at $305.5/short ton, down $4.6 f...