World Perspectives

Recent North America Analysis

feed-grains soy-oilseeds wheat

Market Commentary: Corn, Soy Post Turnaround; Hog Selloff Continues; Cattle Shrug Off COF Report

Trade at the CBOT was dynamic and interesting on Monday with early-day weakness sending wheat, corn, and soybeans all to fresh lows while late-day short-covering and buying pulled the latter two markets higher. Soybeans scored double-digit gains for the day while the corn market could only mana...

feed-grains soy-oilseeds wheat

WPI Crop Progress and Conditions App (Updated 24 June)

Update for 1 April 2024: Last year, users pointed out differences between the 5-year averages reported in this app and what USDA estimates in its weekly report. The difference exists because WPI calculates average based on the last 5 years of observations for the current week. In cases where ob...

The Future of Loose Fiscal Policy and the Economy

Since the early 2000s, there has been plenty of discussion about whether monetary policy is too loose or too tight given the underlying economic conditions. It continues through today as the Fed tightened monetary policy to reign in inflation after the massive amounts of fiscal policy stimulus...

NGT Test this Week; New Mexican Authorities

NGT Test this Week The Belgian presidency of the EU will make its last effort to obtain approval of a regulatory proposal for new genomic techniques. If it fails, the effort will be passed along to the Hungarian presidency that begins in July. Chances are, it will fail despite being watered dow...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.335/bushel, down $0.015 from yesterday's close.  Sep 24 Wheat closed at $5.71/bushel, down $0.0475 from yesterday's close.  Jul 24 Soybeans closed at $11.7525/bushel, up $0.1475 from yesterday's close.  Jul 24 Soymeal closed at $372.8/short ton, up $11 fr...

livestock

Pork and Beef Diverge

U.S. beef production has been falling but pork output is rising. The higher price of beef has made the consumption of competing animal proteins like pork and poultry more attractive. Thus, pork prices initially got a boost out of the extra demand created by the shortfall in beef availability.&n...

livestock

Cattle on Feed

U.S. Cattle and calves in feedlots with capacity of 1,000 or more head totaled 11.6 million head on June 1, 2024 - less than 1 percent below 2023.   Placements in feedlots during May totaled 2.05 million head - 4 percent above 2023.  Marketings of fed cattle during May totaled 1...

feed-grains soy-oilseeds wheat

Market Commentary: Grain Rally Fades; Soybeans Try for Recovery; Bearish COF Numbers

The CBOT was mixed to close the week with traders seeming to take a break after this week’s generally bearish price action. There was notable short profit taking that helped the soy complex, while corn and wheat continued to drift lower amid weak technicals and bearish fundamental sentime...

livestock

Cattle on Feed Report: Placements Way Up in May

USDA released the monthly Cattle on Feed report today. Placements were the only category off from the consensus expectation. The range of estimates was a low of 95 percent to a high of 102.4 percent. Actual placements were 104 percent of May 2022.   For the year, January through May,...

soy-oilseeds

Oilseed Highlights: Big Potential Supplies, Weather Bear on Market

The Market For the week, the July soybean contract fell 1.6 percent in value and is trading at 1160.5/bushel, its lowest level in three years. November soybeans ended the week at 1120/bushel, a loss of 2.5 percent. July soymeal is now at 361.8/ST, down 0.7 percent on the week. Soymeal remains t...

Poor Feed for the Golden Goose; Disingenuous Argument

Poor Feed for the Golden Goose Most people understand basic economics, but not all the subtleties of its principles. Competition makes sense, unless someone says it’s unfair. Some politicians trying to lead America out of its muddle, which is to say the octogenarian “leadership,&rdq...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.35/bushel, down $0.0475 from yesterday's close.  Jul 24 Wheat closed at $5.615/bushel, down $0.1125 from yesterday's close.  Jul 24 Soybeans closed at $11.605/bushel, up $0.0525 from yesterday's close.  Jul 24 Soymeal closed at $361.8/short ton, up $4.2 f...

feed-grains soy-oilseeds wheat

Market Commentary: Corn, Soy Post Turnaround; Hog Selloff Continues; Cattle Shrug Off COF Report

Trade at the CBOT was dynamic and interesting on Monday with early-day weakness sending wheat, corn, and soybeans all to fresh lows while late-day short-covering and buying pulled the latter two markets higher. Soybeans scored double-digit gains for the day while the corn market could only mana...

feed-grains soy-oilseeds wheat

WPI Crop Progress and Conditions App (Updated 24 June)

Update for 1 April 2024: Last year, users pointed out differences between the 5-year averages reported in this app and what USDA estimates in its weekly report. The difference exists because WPI calculates average based on the last 5 years of observations for the current week. In cases where ob...

The Future of Loose Fiscal Policy and the Economy

Since the early 2000s, there has been plenty of discussion about whether monetary policy is too loose or too tight given the underlying economic conditions. It continues through today as the Fed tightened monetary policy to reign in inflation after the massive amounts of fiscal policy stimulus...

NGT Test this Week; New Mexican Authorities

NGT Test this Week The Belgian presidency of the EU will make its last effort to obtain approval of a regulatory proposal for new genomic techniques. If it fails, the effort will be passed along to the Hungarian presidency that begins in July. Chances are, it will fail despite being watered dow...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.335/bushel, down $0.015 from yesterday's close.  Sep 24 Wheat closed at $5.71/bushel, down $0.0475 from yesterday's close.  Jul 24 Soybeans closed at $11.7525/bushel, up $0.1475 from yesterday's close.  Jul 24 Soymeal closed at $372.8/short ton, up $11 fr...

livestock

Pork and Beef Diverge

U.S. beef production has been falling but pork output is rising. The higher price of beef has made the consumption of competing animal proteins like pork and poultry more attractive. Thus, pork prices initially got a boost out of the extra demand created by the shortfall in beef availability.&n...

livestock

Cattle on Feed

U.S. Cattle and calves in feedlots with capacity of 1,000 or more head totaled 11.6 million head on June 1, 2024 - less than 1 percent below 2023.   Placements in feedlots during May totaled 2.05 million head - 4 percent above 2023.  Marketings of fed cattle during May totaled 1...

feed-grains soy-oilseeds wheat

Market Commentary: Grain Rally Fades; Soybeans Try for Recovery; Bearish COF Numbers

The CBOT was mixed to close the week with traders seeming to take a break after this week’s generally bearish price action. There was notable short profit taking that helped the soy complex, while corn and wheat continued to drift lower amid weak technicals and bearish fundamental sentime...

livestock

Cattle on Feed Report: Placements Way Up in May

USDA released the monthly Cattle on Feed report today. Placements were the only category off from the consensus expectation. The range of estimates was a low of 95 percent to a high of 102.4 percent. Actual placements were 104 percent of May 2022.   For the year, January through May,...

soy-oilseeds

Oilseed Highlights: Big Potential Supplies, Weather Bear on Market

The Market For the week, the July soybean contract fell 1.6 percent in value and is trading at 1160.5/bushel, its lowest level in three years. November soybeans ended the week at 1120/bushel, a loss of 2.5 percent. July soymeal is now at 361.8/ST, down 0.7 percent on the week. Soymeal remains t...

Poor Feed for the Golden Goose; Disingenuous Argument

Poor Feed for the Golden Goose Most people understand basic economics, but not all the subtleties of its principles. Competition makes sense, unless someone says it’s unfair. Some politicians trying to lead America out of its muddle, which is to say the octogenarian “leadership,&rdq...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.35/bushel, down $0.0475 from yesterday's close.  Jul 24 Wheat closed at $5.615/bushel, down $0.1125 from yesterday's close.  Jul 24 Soybeans closed at $11.605/bushel, up $0.0525 from yesterday's close.  Jul 24 Soymeal closed at $361.8/short ton, up $4.2 f...

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