WASDE Wheat
USDA’s outlook for 2020/21 U.S. wheat is for larger supplies, lower domestic use, unchanged exports, and increased stocks. Supplies are raised as larger beginning stocks more than offset lower production. Beginning stocks are increased on the NASS Grain Stocks report, is...
Wheat Market Tightening
The wheat market is tightening as production cuts are hitting France, Russia and Ukraine, plus there has been an increase in tenders. Exports by France are expected to be 7.75 MMT, a 43 percent reduction from 2019/20. Meanwhile, Russia's IKAR reduced its estimate for the Russian wheat crop by 1...
Black Sea Regional Analysis
Russian Grain Markets: 29 June-3 July 2020 Harvesting was in progress and in the South and Volga Valley regions prices decreased. Yet, the decrease is not significant as the average yield so far has been lower than in 2019. For export market milling wheat, average 2020 yield price decreased to...
Pessimism Reigns
Global rules for liberalized trade such as the Uruguay Round depended upon strong U.S. leadership backed by the EU. The number of countercurrents to any return to that model are now overwhelming. China has mimicked the U.S. in using economic hostage taking to leverage more nativistic outcomes...
Mercosur Regional Analysis
Wheat Planting progressed 13 percent last week with 71 percent of the expected area now seeded thanks to dry weather. There are still some areas in northern and western Argentina that need moisture before the crop can be seeded. Of what has been planted, most is rated normal or excellent...
Market Commentary
CBOT markets started on a firm note with corn leading the way after yesterday afternoon’s surprising decline in corn conditions ratings. The ratings decline sparked short covering and unwinding of a historically large short corn/long soybean spread position. Wheat futures opened higher bu...
Market Commentary
The CBOT opened on a firm note with soybeans leading the way higher on export business news. Long soybeans/short wheat trade developed early in the day and lasted until wheat futures hit technical support and triggered buy orders. Corn trade saw some light short-covering and funds are thought t...
WASDE Wheat
USDA estimates U.S. wheat production at 1,877 million bushels. Total domestic supplies are raised 16 million to 3,000 million bushels. World 2020/21 wheat supplies are raised 5.7 million tons on a 4.9-million-ton production increase and higher beginning stocks. India’s c...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Egypt reports that 3.1 MMT of local wheat have been purchased by the government. The targeted purchase level of 3.6 MMT is expected to be reached. Pakistan has removed the ban on the transportation of wheat between provinces and has tempor...
Market Commentary
The CBOT opened higher overnight with strength from Tuesday’s reversals carrying through into trade early on Wednesday. The markets turned lower, however, as concerns about worsening relations between the U.S. and China weighed on futures. The soy complex took the brunt of that concern an...
Let Them Have Meat
Most of the top ten beef producing countries around the world have increased production over the past decade except for two, the EU and Australia. Australia has had some issues with drought, but domestic consumption has also dropped in these two markets. In fact, consumption in Australia has dr...
Market Commentary
The CBOT opened with wheat leading the way higher, soybeans firming with support from soyoil and short covering in soymeal while corn established itself as the sell-side of spreads. Wheat futures rallied on concerns that Russian production may fall as well as short-covering and long hedges bein...
WASDE Wheat
USDA’s outlook for 2020/21 U.S. wheat is for larger supplies, lower domestic use, unchanged exports, and increased stocks. Supplies are raised as larger beginning stocks more than offset lower production. Beginning stocks are increased on the NASS Grain Stocks report, is...
Wheat Market Tightening
The wheat market is tightening as production cuts are hitting France, Russia and Ukraine, plus there has been an increase in tenders. Exports by France are expected to be 7.75 MMT, a 43 percent reduction from 2019/20. Meanwhile, Russia's IKAR reduced its estimate for the Russian wheat crop by 1...
Black Sea Regional Analysis
Russian Grain Markets: 29 June-3 July 2020 Harvesting was in progress and in the South and Volga Valley regions prices decreased. Yet, the decrease is not significant as the average yield so far has been lower than in 2019. For export market milling wheat, average 2020 yield price decreased to...
Pessimism Reigns
Global rules for liberalized trade such as the Uruguay Round depended upon strong U.S. leadership backed by the EU. The number of countercurrents to any return to that model are now overwhelming. China has mimicked the U.S. in using economic hostage taking to leverage more nativistic outcomes...
Mercosur Regional Analysis
Wheat Planting progressed 13 percent last week with 71 percent of the expected area now seeded thanks to dry weather. There are still some areas in northern and western Argentina that need moisture before the crop can be seeded. Of what has been planted, most is rated normal or excellent...
Market Commentary
CBOT markets started on a firm note with corn leading the way after yesterday afternoon’s surprising decline in corn conditions ratings. The ratings decline sparked short covering and unwinding of a historically large short corn/long soybean spread position. Wheat futures opened higher bu...
Market Commentary
The CBOT opened on a firm note with soybeans leading the way higher on export business news. Long soybeans/short wheat trade developed early in the day and lasted until wheat futures hit technical support and triggered buy orders. Corn trade saw some light short-covering and funds are thought t...
WASDE Wheat
USDA estimates U.S. wheat production at 1,877 million bushels. Total domestic supplies are raised 16 million to 3,000 million bushels. World 2020/21 wheat supplies are raised 5.7 million tons on a 4.9-million-ton production increase and higher beginning stocks. India’s c...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Egypt reports that 3.1 MMT of local wheat have been purchased by the government. The targeted purchase level of 3.6 MMT is expected to be reached. Pakistan has removed the ban on the transportation of wheat between provinces and has tempor...
Market Commentary
The CBOT opened higher overnight with strength from Tuesday’s reversals carrying through into trade early on Wednesday. The markets turned lower, however, as concerns about worsening relations between the U.S. and China weighed on futures. The soy complex took the brunt of that concern an...
Let Them Have Meat
Most of the top ten beef producing countries around the world have increased production over the past decade except for two, the EU and Australia. Australia has had some issues with drought, but domestic consumption has also dropped in these two markets. In fact, consumption in Australia has dr...
Market Commentary
The CBOT opened with wheat leading the way higher, soybeans firming with support from soyoil and short covering in soymeal while corn established itself as the sell-side of spreads. Wheat futures rallied on concerns that Russian production may fall as well as short-covering and long hedges bein...