Southeast Europe Regional Analysis
Regional News Last week initially saw hot temperatures across Southeast Europe before a slight cooling pattern set in. The early-week heat, combined with this week’s forecast for additional hot, dry weather, will likely hinder late-filling crop yields. The hot, dry weather may reduce soyb...
Southeast Europe Regional Analysis
Regional News Russia continues to solidify itself as a rising supplier of agricultural products to China. News broke last week that China’s General Administration of Customs will allow the import of soymeal, sugar beet pulp, rapeseed meal, and sunflower meal from Russia. Those products ar...
Structural Changes
Our introduction to international grain trade came in the late 1950’s and 1960’s. At that time most U.S. grain exports were under U.S. aid programs such as PL 480 that allowed the recipient governments, which had little access to dollars or other “hard” currencies, to pa...
Black Sea Regional Analysis
Russian Grain Markets: 19-23 August 2019 Domestic wheat prices in the European Part of Russia mainly increased, at different rates in different regions, while wheat prices in Siberia mainly decreased. Corn prices started decreasing in Southern regions as harvesting began. Export prices for whea...
Southeast Europe Regional Analysis
Regional News With summer drawing to an end for the Northern Hemisphere, the wheat crops are largely made and the corn and oilseed crops are in their final stages. Consequently, the market is shifting its focus to estimating demand for Northern Hemisphere crops while looking at supply estimates...
Tax on U.S. Consumers; Subsidizing China
Tax on U.S. Consumers Under the threat of even larger antidumping duties, Mexico agreed to the demand from Washington that its tomato shipments northward be priced higher and face inspections. U.S. tomato imports from Mexico will be subject to floor prices of $0.31-0.59/pound. American consumer...
Market Commentary
Expectations of crop tours finding yields below USDA’s latest estimate gave the CBOT a boost to end what has otherwise been a bearish week. Private yield estimates prompted a round of short covering in the corn and soybean markets, while wheat was left largely directionless. Cattle prices...
Oilseed Highlights: Trade War Damage; NOPA July Soy Crush; U.S. Soy Export Sales
Trade War‘s Long-Term Damage to U.S. Soybean Sector It has now been over 13 months since China imposed a 25 percent tariff on U.S. soybeans in response to the Trump administration’s tariffs on imports from that country. As a result of the retaliation, U.S. soybean exports in 2018/19...
WASDE Wheat
USDA reports for August 2019: More U.S. wheat supplies, increased use and higher ending stocks. U.S. wheat production is raised 59 million bushels to 1,980 million on increased winter wheat and other spring wheat production as indicated by the NASS August Crop Production report. Estimated food...
Market Commentary
Ag commodities started the day higher with corn leading the way on a short covering rally. Positioning ahead of the WASDE was the name of the game today with many traders straddling/strangling the market in expectation of volatility in either direction. Trading volumes were slightly below avera...
Market Commentary
After testing bottoms earlier this week, the commodity market (like equities) reversed on short covering and moved higher. Fund buying was active, and the spread trade was pushed by major funds rolling their positions this week. The weather forecast suggests the possibility of some rain this we...
Oilseed Highlights: Top Soybean Supplier; U.S. Soy Sales; Brazil’s Soy Crop; France’s Rapeseed Crop
U.S. Soybeans Should Now Be the Top Choice for Most Markets China’s announcement this week that it was cancelling the 25 percent tariff exemption on all U.S. soybeans purchased after 3 August had the effect of driving up soybean prices in South America. As of today, the FOB spot price for...
Southeast Europe Regional Analysis
Regional News Last week initially saw hot temperatures across Southeast Europe before a slight cooling pattern set in. The early-week heat, combined with this week’s forecast for additional hot, dry weather, will likely hinder late-filling crop yields. The hot, dry weather may reduce soyb...
Southeast Europe Regional Analysis
Regional News Russia continues to solidify itself as a rising supplier of agricultural products to China. News broke last week that China’s General Administration of Customs will allow the import of soymeal, sugar beet pulp, rapeseed meal, and sunflower meal from Russia. Those products ar...
Structural Changes
Our introduction to international grain trade came in the late 1950’s and 1960’s. At that time most U.S. grain exports were under U.S. aid programs such as PL 480 that allowed the recipient governments, which had little access to dollars or other “hard” currencies, to pa...
Black Sea Regional Analysis
Russian Grain Markets: 19-23 August 2019 Domestic wheat prices in the European Part of Russia mainly increased, at different rates in different regions, while wheat prices in Siberia mainly decreased. Corn prices started decreasing in Southern regions as harvesting began. Export prices for whea...
Southeast Europe Regional Analysis
Regional News With summer drawing to an end for the Northern Hemisphere, the wheat crops are largely made and the corn and oilseed crops are in their final stages. Consequently, the market is shifting its focus to estimating demand for Northern Hemisphere crops while looking at supply estimates...
Tax on U.S. Consumers; Subsidizing China
Tax on U.S. Consumers Under the threat of even larger antidumping duties, Mexico agreed to the demand from Washington that its tomato shipments northward be priced higher and face inspections. U.S. tomato imports from Mexico will be subject to floor prices of $0.31-0.59/pound. American consumer...
Market Commentary
Expectations of crop tours finding yields below USDA’s latest estimate gave the CBOT a boost to end what has otherwise been a bearish week. Private yield estimates prompted a round of short covering in the corn and soybean markets, while wheat was left largely directionless. Cattle prices...
Oilseed Highlights: Trade War Damage; NOPA July Soy Crush; U.S. Soy Export Sales
Trade War‘s Long-Term Damage to U.S. Soybean Sector It has now been over 13 months since China imposed a 25 percent tariff on U.S. soybeans in response to the Trump administration’s tariffs on imports from that country. As a result of the retaliation, U.S. soybean exports in 2018/19...
WASDE Wheat
USDA reports for August 2019: More U.S. wheat supplies, increased use and higher ending stocks. U.S. wheat production is raised 59 million bushels to 1,980 million on increased winter wheat and other spring wheat production as indicated by the NASS August Crop Production report. Estimated food...
Market Commentary
Ag commodities started the day higher with corn leading the way on a short covering rally. Positioning ahead of the WASDE was the name of the game today with many traders straddling/strangling the market in expectation of volatility in either direction. Trading volumes were slightly below avera...
Market Commentary
After testing bottoms earlier this week, the commodity market (like equities) reversed on short covering and moved higher. Fund buying was active, and the spread trade was pushed by major funds rolling their positions this week. The weather forecast suggests the possibility of some rain this we...
Oilseed Highlights: Top Soybean Supplier; U.S. Soy Sales; Brazil’s Soy Crop; France’s Rapeseed Crop
U.S. Soybeans Should Now Be the Top Choice for Most Markets China’s announcement this week that it was cancelling the 25 percent tariff exemption on all U.S. soybeans purchased after 3 August had the effect of driving up soybean prices in South America. As of today, the FOB spot price for...