World Perspectives

Recent South America Analysis

livestock soy-oilseeds feed-grains

China In-Country Analysis

Livestock African Swine Fever Continues to Run Rampant Despite quarantines, incentives to cull herds impacted by sick animals, and harsh penalties administered to officials committing fraud, new cases of African swine fever (ASF) have continued to appear across China with outbreaks reported in...

soy-oilseeds biofuel

Oilseed Highlights: EU Rapeseed; Brazil’s Soybean Exports; U.S. Soybean Inspections; Argentine Biodiesel

European Rapeseed Plantings Down Sharply The head of the French Federation of Oilseed and Protein Crop Producers (FOP) indicated last week that the country’s winter rapeseed plantings will likely decrease 30-35 percent from last year due to the lack of rain this fall. While that suggests...

feed-grains soy-oilseeds wheat

Market Commentary

Today was the Veterans Day holiday in the U.S. The government was closed, but markets were open. The typical Monday USDA reports (e.g., weekly export inspections and weekly crop progress) will be released Tuesday. Corn and wheat futures were just slightly higher overnight with soybean futures l...

soy-oilseeds

Are Soybean Prices Doomed Even with a China Trade Deal?

The January 2019 soybean futures chart (see below) clearly shows the steep price decline that occurred after China imposed a 25 percent duty on soybean imports from the U.S., a retaliatory response in its trade dispute with the latter. The soybean trade issue was a hot topic across farm country...

soy-oilseeds wheat feed-grains

Mercosur Regional Analysis

Soybeans Market Overview Chinese soybean demand remains slow, causing Brazilian basis to drop last week. Several exporters with long positions for nearby shipments forced basis lower, but there was no demand. Offers on CNF basis were at 285-290F early last week and finished at 275F with no bids...

soy-oilseeds

WASDE Soyoil

USDA’s November estimate for 2018/19 is for South America to capture more of China’s soybean market while the United States is likely to capture more market share in the rest of the world, particularly in the second half of the marketing year when those imports typically trend highe...

soy-oilseeds

WASDE Soymeal

USDA’s November estimate for 2018/19 protein consumption growth rate for China is reduced, which is reflected in the limited number of U.S. export sales this fall.  Although sales to China are minimal, strong sales to other markets are expected to continue, which is likely to result...

soy-oilseeds

WASDE Soybeans

USDA’s November estimate for 2018/19 U.S. soybean outlook is for lower production, reduced exports, and increased ending stocks.  Soybean production is forecast at 4,600 million bushels, down 90 million on lower yields.  The soybean yield is projected at 52.1 bushels per acre, d...

feed-grains

WASDE Corn

USDA’s November estimate for 2018/19 U.S. corn outlook is for lower production, reduced feed and residual use and exports, and smaller ending stocks.  Corn production is forecast at 14.626 billion bushels, down 152 million from last month on a reduced yield forecast.  Feed and r...

wheat

WASDE Wheat

USDA’s November estimate for the 2018/19 U.S. wheat crop are unchanged this month, and total use is raised 7 million bushels on higher seed use that reflects increased projected 2019/20 wheat planted area. Food use is unchanged based on the latest NASS Flour Milling Products report, issue...

feed-grains soy-oilseeds wheat

The November WASDE

USDA/NASS cut the U.S. corn and yield estimates by 1.8 bushel/acre (BPA) and 1.0 BPA, respectively. Those reductions were well below the average minor changes expected by the trade. This resulted in production estimates that were also well below the average guesses reported by wire services. Cl...

soy-oilseeds

Oilseed Highlights: Chinese Soy Subsidy; Soy Changes in WASDE; U.S. Soy Export Sales

China’s Heilongjiang Province Doubles Subsidy for Soybeans Heilongjiang Province, China’s top soybean and corn producer, has doubled its subsidy for growing soybeans to 320 yuan/mu ($330/acre or $815/hectare at the current exchange rate) as a way to boost production. To further enco...

livestock soy-oilseeds feed-grains

China In-Country Analysis

Livestock African Swine Fever Continues to Run Rampant Despite quarantines, incentives to cull herds impacted by sick animals, and harsh penalties administered to officials committing fraud, new cases of African swine fever (ASF) have continued to appear across China with outbreaks reported in...

soy-oilseeds biofuel

Oilseed Highlights: EU Rapeseed; Brazil’s Soybean Exports; U.S. Soybean Inspections; Argentine Biodiesel

European Rapeseed Plantings Down Sharply The head of the French Federation of Oilseed and Protein Crop Producers (FOP) indicated last week that the country’s winter rapeseed plantings will likely decrease 30-35 percent from last year due to the lack of rain this fall. While that suggests...

feed-grains soy-oilseeds wheat

Market Commentary

Today was the Veterans Day holiday in the U.S. The government was closed, but markets were open. The typical Monday USDA reports (e.g., weekly export inspections and weekly crop progress) will be released Tuesday. Corn and wheat futures were just slightly higher overnight with soybean futures l...

soy-oilseeds

Are Soybean Prices Doomed Even with a China Trade Deal?

The January 2019 soybean futures chart (see below) clearly shows the steep price decline that occurred after China imposed a 25 percent duty on soybean imports from the U.S., a retaliatory response in its trade dispute with the latter. The soybean trade issue was a hot topic across farm country...

soy-oilseeds wheat feed-grains

Mercosur Regional Analysis

Soybeans Market Overview Chinese soybean demand remains slow, causing Brazilian basis to drop last week. Several exporters with long positions for nearby shipments forced basis lower, but there was no demand. Offers on CNF basis were at 285-290F early last week and finished at 275F with no bids...

soy-oilseeds

WASDE Soyoil

USDA’s November estimate for 2018/19 is for South America to capture more of China’s soybean market while the United States is likely to capture more market share in the rest of the world, particularly in the second half of the marketing year when those imports typically trend highe...

soy-oilseeds

WASDE Soymeal

USDA’s November estimate for 2018/19 protein consumption growth rate for China is reduced, which is reflected in the limited number of U.S. export sales this fall.  Although sales to China are minimal, strong sales to other markets are expected to continue, which is likely to result...

soy-oilseeds

WASDE Soybeans

USDA’s November estimate for 2018/19 U.S. soybean outlook is for lower production, reduced exports, and increased ending stocks.  Soybean production is forecast at 4,600 million bushels, down 90 million on lower yields.  The soybean yield is projected at 52.1 bushels per acre, d...

feed-grains

WASDE Corn

USDA’s November estimate for 2018/19 U.S. corn outlook is for lower production, reduced feed and residual use and exports, and smaller ending stocks.  Corn production is forecast at 14.626 billion bushels, down 152 million from last month on a reduced yield forecast.  Feed and r...

wheat

WASDE Wheat

USDA’s November estimate for the 2018/19 U.S. wheat crop are unchanged this month, and total use is raised 7 million bushels on higher seed use that reflects increased projected 2019/20 wheat planted area. Food use is unchanged based on the latest NASS Flour Milling Products report, issue...

feed-grains soy-oilseeds wheat

The November WASDE

USDA/NASS cut the U.S. corn and yield estimates by 1.8 bushel/acre (BPA) and 1.0 BPA, respectively. Those reductions were well below the average minor changes expected by the trade. This resulted in production estimates that were also well below the average guesses reported by wire services. Cl...

soy-oilseeds

Oilseed Highlights: Chinese Soy Subsidy; Soy Changes in WASDE; U.S. Soy Export Sales

China’s Heilongjiang Province Doubles Subsidy for Soybeans Heilongjiang Province, China’s top soybean and corn producer, has doubled its subsidy for growing soybeans to 320 yuan/mu ($330/acre or $815/hectare at the current exchange rate) as a way to boost production. To further enco...

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