European Market Analysis
Regional News Europe remains lodged in a warmer/drier-than-average weather trend for the next two weeks. Except for the UK and parts of southeast Europe, rainfall will be scant this week and next. Eastern Europe is slated for light showers for the last half of November, but France and nor...
European Market Analysis
Regional News Russia plans to bring an additional 6 million hectares (Mha) of land into agricultural production by 2024, per the country’s ag ministry. The country noted that an estimated 9.6 Mha of arable land is still undeveloped, and two-thirds of that will likely enter productio...
Toward Virtuous Agriculture
Agriculture is being singled out for its deleterious impacts on the environment. The current popular target is deforestation, largely for its adverse impact on carbon sinking. Coincidentally, the problem threatens expanded agricultural production in countries like Malaysia and Brazil. Malaysia&...
WASDE Wheat
USDA reduced ending stocks of wheat for the 2020/21 season but increased global ending stocks: U.S. wheat supplies are reduced by 32 million bushels because of lower beginning stocks and reduced production - as indicated in the Grains Stocks and Small Grains Annual Summary reports. (The G...
Wheat’s New Story
Here is an interesting riddle: With USDA likely to increase its already record large 2020/21 world wheat production estimate a few MMT in Friday’s October WASDE, why is it that the spot CME December 2020 Wheat (SRW) contract is trading at the highest level for a spot CME wheat contract in...
Market Commentary: Money Fuels Rally; CBOT Trades Higher Into October WASDE
CBOT markets traded both sides of unchanged overnight but were higher heading into the morning’s open. The day trade saw prices immediately move sharply higher as funds were massive net buyers and the ongoing ag rally, combined with strong technical, continues to draw money in from the s...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Jordan reports wheat stocks on hand of 1.35 MMT – enough, they say, to cover all requirements for 17 months. Annual consumption of wheat in Jordan is about 880,000 MT but Jordan only produces about 25,000 MT of wheat per year...
WASDE Wheat
Wheat – USDA left U.S. wheat supply and demand outlook unchanged. The 2020/21 global wheat outlook is for higher stocks - supplies were raised 3.3 million tons as higher production in Australia and Canada more than offset a smaller crop in Argentina. On net, global 2020/21 pro...
U.S. Wheat’s Uncertain Future
During the past two decades one of the most important U.S. agricultural crop production trends has been the movement of corn and soybean plantings into traditional wheat production areas of the western and northern Plains. Kansas, Nebraska, and the Dakotas have now become important producers of...
Market Commentary: Wheat Rallies; Corn and Soybeans Look for Direction
The CBOT opened higher with support coming from USDA daily “flash” export sales announcements. Corn and soybeans started to weaken by mid-morning, however, and finished the day with a relatively lackluster performance. Wheat, on the other hand, posted another day of double-digit gai...
Market Commentary - Torn Between Factors
The CBOT was mixed to start the week with corn and soybeans posting lackluster days. The wheat market continued last week’s strength early in the session but quickly found selling pressure that created bearish signals on the charts. Funds were modest net buyers in corn and soybeans while...
Market Commentary: Big Event Next Week
Trading is bracketed by bearish crop yields and passable weather on one side, and reasonable demand on the other. The former prevailed today in corn, soy and beef, the latter got the better in wheat and pig meat. White House economic advisor Larry Kudlow said China’s buying looks good, bu...
European Market Analysis
Regional News Europe remains lodged in a warmer/drier-than-average weather trend for the next two weeks. Except for the UK and parts of southeast Europe, rainfall will be scant this week and next. Eastern Europe is slated for light showers for the last half of November, but France and nor...
European Market Analysis
Regional News Russia plans to bring an additional 6 million hectares (Mha) of land into agricultural production by 2024, per the country’s ag ministry. The country noted that an estimated 9.6 Mha of arable land is still undeveloped, and two-thirds of that will likely enter productio...
Toward Virtuous Agriculture
Agriculture is being singled out for its deleterious impacts on the environment. The current popular target is deforestation, largely for its adverse impact on carbon sinking. Coincidentally, the problem threatens expanded agricultural production in countries like Malaysia and Brazil. Malaysia&...
WASDE Wheat
USDA reduced ending stocks of wheat for the 2020/21 season but increased global ending stocks: U.S. wheat supplies are reduced by 32 million bushels because of lower beginning stocks and reduced production - as indicated in the Grains Stocks and Small Grains Annual Summary reports. (The G...
Wheat’s New Story
Here is an interesting riddle: With USDA likely to increase its already record large 2020/21 world wheat production estimate a few MMT in Friday’s October WASDE, why is it that the spot CME December 2020 Wheat (SRW) contract is trading at the highest level for a spot CME wheat contract in...
Market Commentary: Money Fuels Rally; CBOT Trades Higher Into October WASDE
CBOT markets traded both sides of unchanged overnight but were higher heading into the morning’s open. The day trade saw prices immediately move sharply higher as funds were massive net buyers and the ongoing ag rally, combined with strong technical, continues to draw money in from the s...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Jordan reports wheat stocks on hand of 1.35 MMT – enough, they say, to cover all requirements for 17 months. Annual consumption of wheat in Jordan is about 880,000 MT but Jordan only produces about 25,000 MT of wheat per year...
WASDE Wheat
Wheat – USDA left U.S. wheat supply and demand outlook unchanged. The 2020/21 global wheat outlook is for higher stocks - supplies were raised 3.3 million tons as higher production in Australia and Canada more than offset a smaller crop in Argentina. On net, global 2020/21 pro...
U.S. Wheat’s Uncertain Future
During the past two decades one of the most important U.S. agricultural crop production trends has been the movement of corn and soybean plantings into traditional wheat production areas of the western and northern Plains. Kansas, Nebraska, and the Dakotas have now become important producers of...
Market Commentary: Wheat Rallies; Corn and Soybeans Look for Direction
The CBOT opened higher with support coming from USDA daily “flash” export sales announcements. Corn and soybeans started to weaken by mid-morning, however, and finished the day with a relatively lackluster performance. Wheat, on the other hand, posted another day of double-digit gai...
Market Commentary - Torn Between Factors
The CBOT was mixed to start the week with corn and soybeans posting lackluster days. The wheat market continued last week’s strength early in the session but quickly found selling pressure that created bearish signals on the charts. Funds were modest net buyers in corn and soybeans while...
Market Commentary: Big Event Next Week
Trading is bracketed by bearish crop yields and passable weather on one side, and reasonable demand on the other. The former prevailed today in corn, soy and beef, the latter got the better in wheat and pig meat. White House economic advisor Larry Kudlow said China’s buying looks good, bu...