World Perspectives

Softs Recent Softs Analysis

softs

Geopolitical Trade Substitution

Historically, Canada has been the fourth largest producer of green peas and the largest exporter of the product. Canada’s global market share for the green pea trade was 37.9 percent in 2022, while Russia supplied 13.7 percent. Meanwhile, China is both the largest producer and importer of...

soy-oilseeds wheat feed-grains

CFTC COT Report Analysis

The weekly CFTC report was in-line with expectations as it showed funds remaining dedicated net sellers across oilseed complex. The only exception was the buying in soyoil, where funds took back nearly half their short position in that contract amid the fears about the Indonesia-China trade war...

softs

Misalignment of Land and Labor

U.S. fruit and vegetable growers made their annual trek to Capitol Hill but instead of their usual gift of a full box of fresh produce for the Members of Congress, they only filled it a quarter full. Their message: fresh fruit production has fallen by 10 percent and fresh vegetable output has g...

feed-grains wheat soy-oilseeds

CFTC COT Report Analysis

As expected, funds were proven to be staunch net sellers last week, according to Friday’s CFTC report data. Funds were the most aggressive in corn where they sold nearly 90,000 contracts and obtained their largest short position since April and the largest early-June short since 2020. Fun...

softs

No Mimosas

Brazil produces more than a third of the world’s oranges and controls 70 percent of global exports. This drought, plus disease and other issues has caused production to fall by nearly a quarter. As a result, prices have spiked. It may not be a proxy for soybeans and corn since oranges are...

feed-grains soy-oilseeds wheat

CFTC COT Report Analysis

The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity markets. The data is, of course, taken from the CFTC's weekly Commitment of Traders report, using the futures only data. WPI recently completed a...

softs

Where are the Veggies?

As noted yesterday, USDA estimates that the food category incurring the most inflation this year in the U.S. will be fresh vegetables. Part of the problem is the disconnect between encouraging consumption of this food group, and domestic production. About 40 percent of fresh vegetables are impo...

feed-grains livestock softs

CFTC COT Report Analysis

The big surprise in this week’s CFTC report was the expansion of funds’ short position in corn by over 54,000 contracts. Funds had been aggressively exiting these shorts but apparently decided the threats to the U.S. planting effort and Brazil’s safrinha crop were insufficient...

feed-grains wheat soy-oilseeds

CFTC COT Report Analysis

The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity markets. The data is, of course, taken from the CFTC's weekly Commitment of Traders report, using the futures only data. WPI recently completed a...

softs

Milking Future Demand

U.S. and Mexican dairy industry representatives met and renewed their commitment to “collaborate and advocate for mutually beneficial dairy policies. This was a policy initiative begun back in 2016. At first glance, the effort seems surprising given that Mexico exports more than three tim...

wheat soy-oilseeds feed-grains

CFTC COT Report Analysis

The surprise in this week’s CFTC report is that – through Tuesday’s data reporting deadline - funds were more aggressive covering grain/oilseed shorts than expected. The headline number is that funds bought back over 111,000 contracts and are now only short about 30,000 contra...

softs

Meeting with the Cotton Hopeful

Although many small developing countries produce cotton, about five countries produce most of the fiber. China and India alone account for nearly half the global output of cotton. Four small African countries (Benin, Burkina Faso, Chad, and Mali) formed the Cotton-4 or C-4 consortium many years...

softs

Geopolitical Trade Substitution

Historically, Canada has been the fourth largest producer of green peas and the largest exporter of the product. Canada’s global market share for the green pea trade was 37.9 percent in 2022, while Russia supplied 13.7 percent. Meanwhile, China is both the largest producer and importer of...

soy-oilseeds wheat feed-grains

CFTC COT Report Analysis

The weekly CFTC report was in-line with expectations as it showed funds remaining dedicated net sellers across oilseed complex. The only exception was the buying in soyoil, where funds took back nearly half their short position in that contract amid the fears about the Indonesia-China trade war...

softs

Misalignment of Land and Labor

U.S. fruit and vegetable growers made their annual trek to Capitol Hill but instead of their usual gift of a full box of fresh produce for the Members of Congress, they only filled it a quarter full. Their message: fresh fruit production has fallen by 10 percent and fresh vegetable output has g...

feed-grains wheat soy-oilseeds

CFTC COT Report Analysis

As expected, funds were proven to be staunch net sellers last week, according to Friday’s CFTC report data. Funds were the most aggressive in corn where they sold nearly 90,000 contracts and obtained their largest short position since April and the largest early-June short since 2020. Fun...

softs

No Mimosas

Brazil produces more than a third of the world’s oranges and controls 70 percent of global exports. This drought, plus disease and other issues has caused production to fall by nearly a quarter. As a result, prices have spiked. It may not be a proxy for soybeans and corn since oranges are...

feed-grains soy-oilseeds wheat

CFTC COT Report Analysis

The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity markets. The data is, of course, taken from the CFTC's weekly Commitment of Traders report, using the futures only data. WPI recently completed a...

softs

Where are the Veggies?

As noted yesterday, USDA estimates that the food category incurring the most inflation this year in the U.S. will be fresh vegetables. Part of the problem is the disconnect between encouraging consumption of this food group, and domestic production. About 40 percent of fresh vegetables are impo...

feed-grains livestock softs

CFTC COT Report Analysis

The big surprise in this week’s CFTC report was the expansion of funds’ short position in corn by over 54,000 contracts. Funds had been aggressively exiting these shorts but apparently decided the threats to the U.S. planting effort and Brazil’s safrinha crop were insufficient...

feed-grains wheat soy-oilseeds

CFTC COT Report Analysis

The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity markets. The data is, of course, taken from the CFTC's weekly Commitment of Traders report, using the futures only data. WPI recently completed a...

softs

Milking Future Demand

U.S. and Mexican dairy industry representatives met and renewed their commitment to “collaborate and advocate for mutually beneficial dairy policies. This was a policy initiative begun back in 2016. At first glance, the effort seems surprising given that Mexico exports more than three tim...

wheat soy-oilseeds feed-grains

CFTC COT Report Analysis

The surprise in this week’s CFTC report is that – through Tuesday’s data reporting deadline - funds were more aggressive covering grain/oilseed shorts than expected. The headline number is that funds bought back over 111,000 contracts and are now only short about 30,000 contra...

softs

Meeting with the Cotton Hopeful

Although many small developing countries produce cotton, about five countries produce most of the fiber. China and India alone account for nearly half the global output of cotton. Four small African countries (Benin, Burkina Faso, Chad, and Mali) formed the Cotton-4 or C-4 consortium many years...

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