World Perspectives

Recent South America Analysis

FOB Prices and Freight Rate App (Updated 2 July)

Freight Comments for 2 July 2020: By Jay O'Neil Commodity Consulting Capesize dry-bulk vessels must be using rocket fuel in place of VLSFO as that market continued to skyrocket this week. Capesize owners and sellers felt embolden by the tight supply of available vessels in the Atlantic, an...

Interactive Ocean Freight Rates (Updated 2 July)

Data Updated Through: 2 July 2020   Ocean Freight Insights and Comments - 2 July 2020 By Jay O'Neil Commodity Consulting Capesize dry-bulk vessels must be using rocket fuel in place of VLSFO as that market continued to skyrocket this week. Capesize owners and sellers felt embolden by...

soy-oilseeds

Oilseed Highlights: Soy Exports; EU Soy Imports; U.S. Minor Oilseeds; China Soy Stocks

U.S. Soy Export Sales Highlights Today’s USDA export sales report showed the week ending 25 June was a very disappointing one for exporters of U.S. soybeans, soymeal and soyoil, at least for MY 2019/20. However, sales of soybeans for export in 2020/21 were a bit more positive. Net sales o...

feed-grains soy-oilseeds livestock

China In-Country Analysis

Policy China Makes New Overtures to Trans-Pacific Partnership Last month a series of articles appeared discussing Beijing’s new openness to joining the Comprehensive and Progress Agreement for Trans-Pacific Partnership (CPTPP).  The current 11-member trading bloc consisting of eleven...

feed-grains soy-oilseeds wheat

Market Commentary

Note: the CBOT will close early at 13:05 ET on Thursday, 2 July and reopen the evening of Sunday, 5 July. Short covering and position adjusting were the themes of CBOT trade on Monday, with corn and wheat turning higher while the soy complex was steady/weaker. Funds were aggressive net buyers o...

Happy USMCA Day – Enjoy it While it Lasts

On Wednesday 1 July, the new USMCA will enter into force, and potentially lead to a lot more North American trade disputes than we’ve seen in the past year. (USMCA is a  rewrite of NAFTA that President Trump ran on in the 2016 election). A number of industry groups have been pressing...

feed-grains soy-oilseeds wheat

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...

feed-grains soy-oilseeds wheat

Market Commentary

The CBOT continued its weaker trend Friday with funds again emerging as net sellers and any longs liquidating their positions. Corn and wheat futures posted new contract lows while soybeans retained slightly better technical strength on news of exports to China. The bearish Hogs and Pigs report...

feed-grains soy-oilseeds wheat

Ag Review - June 2020

WPI's monthly publication features a review of the past month's market and policy developments. This issue looks at the relationship between unemployment and food costs, the future of ethanol, the impact of tensions with China, the Trump trade policy, Mercosur developments and much more. ...

feed-grains soy-oilseeds wheat

Market Commentary

The day started out negative, supposedly over increased COVID-19 cases but the situation is more complicated. This ignores other demand destroyers like economic recession, increased populism and protectionism, and trade tensions with China. Most importantly, it ignores supply makers like the cu...

soy-oilseeds

Oilseed Highlights: Soy Export Sales; Vicentin; China COVID-19 Request

Soy Export Sales Highlights Today’s USDA export sales report was positive for soybeans and soyoil, but not so much for soymeal sales. However, soymeal exports were postive. Net soybean export sales during the week ending 18 June totaled 601,900 MT for 2019/20 and 560,700 MT for 2020/21. T...

feed-grains soy-oilseeds wheat

Difficult Days for Markets and Everyone Else

About the only thing we can say for certain these days is that USDA/NASS will release the “final” U.S. spring planted acreage numbers and the 1 June quarterly stocks numbers next Tuesday, 30 June. What those reports will reveal is, of course, not certain today, but expectations are...

feed-grains soy-oilseeds wheat

Market Commentary

The CBOT was mostly lower on Wednesday with favorable U.S. weather providing little incentive to remain bullish corn or soybeans. Wheat futures were mostly lower following yesterday’s jump higher but still held technical support. U.S. equities and macro markets were sharply weaker on Wedn...

feed-grains soy-oilseeds

Corn Imports Grow

Global corn imports continue to expand but increases by Vietnam and the EU standout. Mexico remains a major market, but imports are growing at roughly the same rate as the world as a whole, around five percent per year. By contrast, over the past decade Vietnam’s corn imports have grown 1...

feed-grains soy-oilseeds wheat

Market Commentary

CBOT markets were spooked early this morning after U.S. Presidential aide Peter Navarro commented that the U.S.-China Phase One trade deal was “over”. The news sent corn futures down 8 cents and soybeans 14 cents lower until Navarro amended his statement and suggested it was taken o...

feed-grains soy-oilseeds wheat

Mercosur Regional Analysis

Argentina Macroeconomic and Policy Situation Things are generally becoming more complicated in Argentina. After nearly 90 days of COVID-19 quarantines/lockdowns, the worst seems still to come relative to the disease. Many companies are going bankrupt, unemployment and poverty are surging, shops...

feed-grains soy-oilseeds wheat

Market Commentary

Monday’s CBOT trade was quiet with corn leading to the downside as funds continue to be net sellers. Soybean futures traded a mixed day with early short covering in soymeal offering support. Wheat future are looking for a bottom and may have found one with the market rallying 3-4 cents th...

feed-grains

Rice Glass House

Both Brazil and the U.S. have issued protests over a Thai legal ban against imported commodities and food with residues of the weed killer paraquat and the pesticide chlorpyrifos. The ban will prevent billions of dollars of trade in wheat, soybeans and some foods. The two countries have asked T...

feed-grains soy-oilseeds wheat

Market Commentary

The soy complex led the CBOT higher while corn traded a mixed day and wheat continued to post new lows for its current move. Modest short covering occurred in soybeans and corn on Friday afternoon as traders pared bets ahead of what is likely to be a hot/dry weekend for major corn/soybean growi...

feed-grains soy-oilseeds wheat

Market Commentary

CBOT futures started the overnight session on a mixed note but turned lower as the night wore on. The opening bell brought with it aggressive selling in soybeans and soymeal. That pressure, however, did not last and soybeans finished with solid gains while soymeal settled just slightly lower. C...

feed-grains soy-oilseeds livestock

China In-Country Analysis

Public Health Covid-19 Resurfaces in Beijing, Xinfadi Market Closed Through this morning, 137 new novel coronavirus’s have been linked to Xinfadi  wholesale market in Beijing, one of the country’s largest produce terminals. Xinfadi, which handles everything from fresh fruit and...

feed-grains soy-oilseeds wheat

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...

livestock

COVID Impacts on Poultry

As a major supplier of poultry to the Chinese market, Brazilian poultry experienced the pull of COVID-spiked demand back in March and April of this year. Chicken prices in both countries have resumed a more normal spread with China priced about 10 percent higher. However, back in late March Bra...

feed-grains soy-oilseeds wheat

Market Commentary

The CBOT opened with short covering driving SRW wheat and soyoil higher. Corn and soybeans were lower as weaker energies highlighted ethanol demand risk and liquidation trade developed in soybeans. U.S. stocks opened lower and the Dow posted a 500+ point loss before rallying in the afternoon. C...

FOB Prices and Freight Rate App (Updated 2 July)

Freight Comments for 2 July 2020: By Jay O'Neil Commodity Consulting Capesize dry-bulk vessels must be using rocket fuel in place of VLSFO as that market continued to skyrocket this week. Capesize owners and sellers felt embolden by the tight supply of available vessels in the Atlantic, an...

Interactive Ocean Freight Rates (Updated 2 July)

Data Updated Through: 2 July 2020   Ocean Freight Insights and Comments - 2 July 2020 By Jay O'Neil Commodity Consulting Capesize dry-bulk vessels must be using rocket fuel in place of VLSFO as that market continued to skyrocket this week. Capesize owners and sellers felt embolden by...

soy-oilseeds

Oilseed Highlights: Soy Exports; EU Soy Imports; U.S. Minor Oilseeds; China Soy Stocks

U.S. Soy Export Sales Highlights Today’s USDA export sales report showed the week ending 25 June was a very disappointing one for exporters of U.S. soybeans, soymeal and soyoil, at least for MY 2019/20. However, sales of soybeans for export in 2020/21 were a bit more positive. Net sales o...

feed-grains soy-oilseeds livestock

China In-Country Analysis

Policy China Makes New Overtures to Trans-Pacific Partnership Last month a series of articles appeared discussing Beijing’s new openness to joining the Comprehensive and Progress Agreement for Trans-Pacific Partnership (CPTPP).  The current 11-member trading bloc consisting of eleven...

feed-grains soy-oilseeds wheat

Market Commentary

Note: the CBOT will close early at 13:05 ET on Thursday, 2 July and reopen the evening of Sunday, 5 July. Short covering and position adjusting were the themes of CBOT trade on Monday, with corn and wheat turning higher while the soy complex was steady/weaker. Funds were aggressive net buyers o...

Happy USMCA Day – Enjoy it While it Lasts

On Wednesday 1 July, the new USMCA will enter into force, and potentially lead to a lot more North American trade disputes than we’ve seen in the past year. (USMCA is a  rewrite of NAFTA that President Trump ran on in the 2016 election). A number of industry groups have been pressing...

feed-grains soy-oilseeds wheat

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...

feed-grains soy-oilseeds wheat

Market Commentary

The CBOT continued its weaker trend Friday with funds again emerging as net sellers and any longs liquidating their positions. Corn and wheat futures posted new contract lows while soybeans retained slightly better technical strength on news of exports to China. The bearish Hogs and Pigs report...

feed-grains soy-oilseeds wheat

Ag Review - June 2020

WPI's monthly publication features a review of the past month's market and policy developments. This issue looks at the relationship between unemployment and food costs, the future of ethanol, the impact of tensions with China, the Trump trade policy, Mercosur developments and much more. ...

feed-grains soy-oilseeds wheat

Market Commentary

The day started out negative, supposedly over increased COVID-19 cases but the situation is more complicated. This ignores other demand destroyers like economic recession, increased populism and protectionism, and trade tensions with China. Most importantly, it ignores supply makers like the cu...

soy-oilseeds

Oilseed Highlights: Soy Export Sales; Vicentin; China COVID-19 Request

Soy Export Sales Highlights Today’s USDA export sales report was positive for soybeans and soyoil, but not so much for soymeal sales. However, soymeal exports were postive. Net soybean export sales during the week ending 18 June totaled 601,900 MT for 2019/20 and 560,700 MT for 2020/21. T...

feed-grains soy-oilseeds wheat

Difficult Days for Markets and Everyone Else

About the only thing we can say for certain these days is that USDA/NASS will release the “final” U.S. spring planted acreage numbers and the 1 June quarterly stocks numbers next Tuesday, 30 June. What those reports will reveal is, of course, not certain today, but expectations are...

feed-grains soy-oilseeds wheat

Market Commentary

The CBOT was mostly lower on Wednesday with favorable U.S. weather providing little incentive to remain bullish corn or soybeans. Wheat futures were mostly lower following yesterday’s jump higher but still held technical support. U.S. equities and macro markets were sharply weaker on Wedn...

feed-grains soy-oilseeds

Corn Imports Grow

Global corn imports continue to expand but increases by Vietnam and the EU standout. Mexico remains a major market, but imports are growing at roughly the same rate as the world as a whole, around five percent per year. By contrast, over the past decade Vietnam’s corn imports have grown 1...

feed-grains soy-oilseeds wheat

Market Commentary

CBOT markets were spooked early this morning after U.S. Presidential aide Peter Navarro commented that the U.S.-China Phase One trade deal was “over”. The news sent corn futures down 8 cents and soybeans 14 cents lower until Navarro amended his statement and suggested it was taken o...

feed-grains soy-oilseeds wheat

Mercosur Regional Analysis

Argentina Macroeconomic and Policy Situation Things are generally becoming more complicated in Argentina. After nearly 90 days of COVID-19 quarantines/lockdowns, the worst seems still to come relative to the disease. Many companies are going bankrupt, unemployment and poverty are surging, shops...

feed-grains soy-oilseeds wheat

Market Commentary

Monday’s CBOT trade was quiet with corn leading to the downside as funds continue to be net sellers. Soybean futures traded a mixed day with early short covering in soymeal offering support. Wheat future are looking for a bottom and may have found one with the market rallying 3-4 cents th...

feed-grains

Rice Glass House

Both Brazil and the U.S. have issued protests over a Thai legal ban against imported commodities and food with residues of the weed killer paraquat and the pesticide chlorpyrifos. The ban will prevent billions of dollars of trade in wheat, soybeans and some foods. The two countries have asked T...

feed-grains soy-oilseeds wheat

Market Commentary

The soy complex led the CBOT higher while corn traded a mixed day and wheat continued to post new lows for its current move. Modest short covering occurred in soybeans and corn on Friday afternoon as traders pared bets ahead of what is likely to be a hot/dry weekend for major corn/soybean growi...

feed-grains soy-oilseeds wheat

Market Commentary

CBOT futures started the overnight session on a mixed note but turned lower as the night wore on. The opening bell brought with it aggressive selling in soybeans and soymeal. That pressure, however, did not last and soybeans finished with solid gains while soymeal settled just slightly lower. C...

feed-grains soy-oilseeds livestock

China In-Country Analysis

Public Health Covid-19 Resurfaces in Beijing, Xinfadi Market Closed Through this morning, 137 new novel coronavirus’s have been linked to Xinfadi  wholesale market in Beijing, one of the country’s largest produce terminals. Xinfadi, which handles everything from fresh fruit and...

feed-grains soy-oilseeds wheat

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...

livestock

COVID Impacts on Poultry

As a major supplier of poultry to the Chinese market, Brazilian poultry experienced the pull of COVID-spiked demand back in March and April of this year. Chicken prices in both countries have resumed a more normal spread with China priced about 10 percent higher. However, back in late March Bra...

feed-grains soy-oilseeds wheat

Market Commentary

The CBOT opened with short covering driving SRW wheat and soyoil higher. Corn and soybeans were lower as weaker energies highlighted ethanol demand risk and liquidation trade developed in soybeans. U.S. stocks opened lower and the Dow posted a 500+ point loss before rallying in the afternoon. C...

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