World Perspectives

Recent South America Analysis

FOB Prices and Freight Rate App (Updated 6 December)

Update for 6 December 2019: All other routes/offers updated through the day's close.  Note: Due to client request, WPI has added data for corn prices FOB France, Russia, and a general Black Sea price.   Freight Comments for 5 December 2019: Jay O’Neil, O’Neil Com...

Interactive Ocean Freight Rates (Updated 5 December)

Data Updated Through: 5 December 2019 Note: Due to client request, WPI has started including rates for 60,000 MT vessels from Russia and Ukraine to Egypt.  Ocean Freight Insights and Comments - 5 December 2019 By Jay O'Neil Commodity Consulting   Dry-bulk markets look like they found...

feed-grains soy-oilseeds wheat

Market Commentary

It was a mixed day with most of the volume and bullishness occurring in the soy complex as grains counted their losses. It didn’t help that export sales were underwhelming, and some bears are now holding out hope for a so-called Santa Clause rally to end the year on a cheerier note. Actua...

soy-oilseeds

Oilseed Highlights: Export Sales Down; Future of Soy Moratorium

U.S. Soybean Export Sales Down Sharply Last Week Today’s USDA export sales report indicated exporters were far less successful selling U.S. soybeans for export in the week ending 28 November than in previous weeks. Net export sales totaled 683,800 MT. That was a decline of 59 percent from...

feed-grains soy-oilseeds wheat

Possible Bullish Scenarios

It has been easy to be bearish on grain and soybean prices so far during the 2019/2020 crop cycle. In fact, it has been easy to be bearish during the last several crop cycles. The U.S. has seen several years of big corn crops, but so have South America and the Black Sea region. Competition for...

Digital Retaliation; Principio de Precaución

Digital Retaliation The creative crafting of a tax specifically designed to punish foreign-based companies such as France’s new digital tax is a potential slippery slope in international economic warfare. It entails adding domestic tax regimes to the traditional tools of tariffs, subsidie...

feed-grains soy-oilseeds livestock

China In-Country Analysis

Livestock Live Hog Price Down 2 Percent, White Feather Broiler Rises By 11 Percent After peaking at RMB 40.28/kg ($5.73/kg) or RMB 18.27/lb. ($2.60/lb.) at the end of October, the national average live hog price has fallen for five straight weeks. Ending last week at RMB 31.61/kg ($4.50/kg) or...

feed-grains soy-oilseeds wheat

Market Commentary

The CBOT opened with funds unwinding spreads, sending corn higher versus wheat while the soy complex was steady. Mid-day trade featured a defensive tone after trade war comments from President Trump, but the market regained some of its strength (except for wheat) by the close. The recent sellof...

biofuel energy

Energy and Ethanol Outlook

Energy markets mostly bounced back today after a Black Friday shortened trading session where energy futures dipped across the board. On Friday, crude oil was down about $3.00 per barrel, gasoline down more than $0.08 per gallon and diesel about $0.07 per gallon. Ethanol followed, with the Janu...

feed-grains soy-oilseeds wheat

Mercosur Regional Analysis

Taxes Despite the fact Argentina’s new government hasn’t made an official declaration, there are rumors flying about the new export taxes that are supposedly to be implemented. The strongest versions of the rumors suggest there will be a 35 percent tax on soybeans (versus 26 percent...

feed-grains soy-oilseeds wheat

Market Commentary

The CBOT finished the overnight session on a high note with corn, soybeans, and wheat all in positive territory. Oversold conditions and short covering supported prices overnight and continued to do so early today. Today’s trading was tentative early on with corn, wheat, and the soy compl...

feed-grains soy-oilseeds livestock

China In-Country Analysis

Finance China’s Ag Development Bank Working to Keep Farms Afloat Last week Dims Sums Blogspot reported on a series of announcements and articles related to China’s Agricultural Development Bank (ADBC) and its ballooning portfolio. According to the article, during an October press co...

feed-grains soy-oilseeds wheat

Ag Review - November 2019

WPI's monthly publication features a review of the past month's market and policy developments. There are articles covering the next farm bill, the future of ag technology from artificial meat to drones, potential shifts in production to different crops, the outlook for U.S. – Chinese rel...

feed-grains soy-oilseeds wheat

Market Commentary

Trading in Chicago was largely a one-sided affair today with cattle futures being the only market to sustain any significant closes. The aggressive fund selling this week begs the question as to their target values. WPI suspects that with some markets (soybeans, in particular) entering oversold...

feed-grains soy-oilseeds wheat

Mercosur Regional Analysis

Macroeconomics There were no major announcements last week regarding policies or national economics and forex rates and stock indices were steady. The incoming President of Argentina, Alberto Fernandez, said that all industries (mining, petroleum, farming, etc.) will need to make an effort duri...

soy-oilseeds feed-grains wheat

Oilseed Highlights: Egypt's Soybean Production, DDGS Exports to Australia and New Zealand

Egypt Wants to Double Soybean Production The government of Egypt has announced its plan to more than double its production of soybeans to reduce its dependence on vegoil imports. The government says the country produced 59,000 MT of soybeans in 2018/19 from 14,800 hectares. Its goal is to plant...

Trouble Targeting

USDA has targeted select foreign markets for increased attention this year, including sending trade missions to solicit sales. The success to date has been mixed. In part this is due to head winds such as the high value of the dollar and slower economic growth in countries impacted by the trade...

feed-grains wheat soy-oilseeds

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST COMMENTS It looks to be good news for grain importers as most experts in the ocean freight business are expecting dry-bulk freight rates to be steady to lower over the next year. The long expected rally in prices due to new low-sulfur requirement level...

feed-grains soy-oilseeds wheat

Market Commentary

Trading at the CBOT was dominated by selling in corn and soybeans, with some support in the wheat complex, though much of that was likely the result of corn/soybeans being bear spread against wheat. Funds were net wheat buyers, securing an estimated 6,000 contracts, while selling 15,000 contrac...

feed-grains wheat

Mercosur Regional Analysis

Wheat At the start of the wheat campaign, everything was set for a bumper crop. Good prices, good soil moisture, and high investment in inputs (fertilizer, herbicide, etc.) were pointing to above-average yields. However, the weather did not cooperate during the growing season and the effects ar...

SOE Reform, Maybe; BRICS Hypocrisy

SOE Reform, Maybe The Trump Administration has been decrying the dominance of state-owned enterprises (SOE’s) in China’s economy and now that nation’s State-Owned Assets Supervision and Administration Commission has released guidelines for reform. But the Commission is looking...

feed-grains soy-oilseeds wheat

Market Commentary

Spread activity was the main CBOT driver today, with traders initially buying soybeans and selling wheat and corn. Long soymeal/short soyoil trading was notable as well. Disappointing export sales for corn and wheat triggered liquidation in those two commodities. Soybeans had gotten cheap enoug...

soy-oilseeds

Oilseed Highlights: Increased Brazilian Soymeal Exports, U.S. Domestic Soymeal Demand

U.S. Soymeal Exports to Face More Competition from Brazil The U.S. has faced aggressive competition in exporting soymeal from Brazil and Argentina for at least two decades. However, it appears the competition will intensify if the government of Brazil moves ahead with its plan to boost biodiese...

China versus USMCA; Global MRL’s

China versus USMCA The U.S. Congressional calendar is tight and Trump trade negotiators only have so much band width. This is leading some in the Washington trade community to speculate that the White House will emphasize USMCA passage in the next few weeks. President Trump has backed away from...

FOB Prices and Freight Rate App (Updated 6 December)

Update for 6 December 2019: All other routes/offers updated through the day's close.  Note: Due to client request, WPI has added data for corn prices FOB France, Russia, and a general Black Sea price.   Freight Comments for 5 December 2019: Jay O’Neil, O’Neil Com...

Interactive Ocean Freight Rates (Updated 5 December)

Data Updated Through: 5 December 2019 Note: Due to client request, WPI has started including rates for 60,000 MT vessels from Russia and Ukraine to Egypt.  Ocean Freight Insights and Comments - 5 December 2019 By Jay O'Neil Commodity Consulting   Dry-bulk markets look like they found...

feed-grains soy-oilseeds wheat

Market Commentary

It was a mixed day with most of the volume and bullishness occurring in the soy complex as grains counted their losses. It didn’t help that export sales were underwhelming, and some bears are now holding out hope for a so-called Santa Clause rally to end the year on a cheerier note. Actua...

soy-oilseeds

Oilseed Highlights: Export Sales Down; Future of Soy Moratorium

U.S. Soybean Export Sales Down Sharply Last Week Today’s USDA export sales report indicated exporters were far less successful selling U.S. soybeans for export in the week ending 28 November than in previous weeks. Net export sales totaled 683,800 MT. That was a decline of 59 percent from...

feed-grains soy-oilseeds wheat

Possible Bullish Scenarios

It has been easy to be bearish on grain and soybean prices so far during the 2019/2020 crop cycle. In fact, it has been easy to be bearish during the last several crop cycles. The U.S. has seen several years of big corn crops, but so have South America and the Black Sea region. Competition for...

Digital Retaliation; Principio de Precaución

Digital Retaliation The creative crafting of a tax specifically designed to punish foreign-based companies such as France’s new digital tax is a potential slippery slope in international economic warfare. It entails adding domestic tax regimes to the traditional tools of tariffs, subsidie...

feed-grains soy-oilseeds livestock

China In-Country Analysis

Livestock Live Hog Price Down 2 Percent, White Feather Broiler Rises By 11 Percent After peaking at RMB 40.28/kg ($5.73/kg) or RMB 18.27/lb. ($2.60/lb.) at the end of October, the national average live hog price has fallen for five straight weeks. Ending last week at RMB 31.61/kg ($4.50/kg) or...

feed-grains soy-oilseeds wheat

Market Commentary

The CBOT opened with funds unwinding spreads, sending corn higher versus wheat while the soy complex was steady. Mid-day trade featured a defensive tone after trade war comments from President Trump, but the market regained some of its strength (except for wheat) by the close. The recent sellof...

biofuel energy

Energy and Ethanol Outlook

Energy markets mostly bounced back today after a Black Friday shortened trading session where energy futures dipped across the board. On Friday, crude oil was down about $3.00 per barrel, gasoline down more than $0.08 per gallon and diesel about $0.07 per gallon. Ethanol followed, with the Janu...

feed-grains soy-oilseeds wheat

Mercosur Regional Analysis

Taxes Despite the fact Argentina’s new government hasn’t made an official declaration, there are rumors flying about the new export taxes that are supposedly to be implemented. The strongest versions of the rumors suggest there will be a 35 percent tax on soybeans (versus 26 percent...

feed-grains soy-oilseeds wheat

Market Commentary

The CBOT finished the overnight session on a high note with corn, soybeans, and wheat all in positive territory. Oversold conditions and short covering supported prices overnight and continued to do so early today. Today’s trading was tentative early on with corn, wheat, and the soy compl...

feed-grains soy-oilseeds livestock

China In-Country Analysis

Finance China’s Ag Development Bank Working to Keep Farms Afloat Last week Dims Sums Blogspot reported on a series of announcements and articles related to China’s Agricultural Development Bank (ADBC) and its ballooning portfolio. According to the article, during an October press co...

feed-grains soy-oilseeds wheat

Ag Review - November 2019

WPI's monthly publication features a review of the past month's market and policy developments. There are articles covering the next farm bill, the future of ag technology from artificial meat to drones, potential shifts in production to different crops, the outlook for U.S. – Chinese rel...

feed-grains soy-oilseeds wheat

Market Commentary

Trading in Chicago was largely a one-sided affair today with cattle futures being the only market to sustain any significant closes. The aggressive fund selling this week begs the question as to their target values. WPI suspects that with some markets (soybeans, in particular) entering oversold...

feed-grains soy-oilseeds wheat

Mercosur Regional Analysis

Macroeconomics There were no major announcements last week regarding policies or national economics and forex rates and stock indices were steady. The incoming President of Argentina, Alberto Fernandez, said that all industries (mining, petroleum, farming, etc.) will need to make an effort duri...

soy-oilseeds feed-grains wheat

Oilseed Highlights: Egypt's Soybean Production, DDGS Exports to Australia and New Zealand

Egypt Wants to Double Soybean Production The government of Egypt has announced its plan to more than double its production of soybeans to reduce its dependence on vegoil imports. The government says the country produced 59,000 MT of soybeans in 2018/19 from 14,800 hectares. Its goal is to plant...

Trouble Targeting

USDA has targeted select foreign markets for increased attention this year, including sending trade missions to solicit sales. The success to date has been mixed. In part this is due to head winds such as the high value of the dollar and slower economic growth in countries impacted by the trade...

feed-grains wheat soy-oilseeds

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST COMMENTS It looks to be good news for grain importers as most experts in the ocean freight business are expecting dry-bulk freight rates to be steady to lower over the next year. The long expected rally in prices due to new low-sulfur requirement level...

feed-grains soy-oilseeds wheat

Market Commentary

Trading at the CBOT was dominated by selling in corn and soybeans, with some support in the wheat complex, though much of that was likely the result of corn/soybeans being bear spread against wheat. Funds were net wheat buyers, securing an estimated 6,000 contracts, while selling 15,000 contrac...

feed-grains wheat

Mercosur Regional Analysis

Wheat At the start of the wheat campaign, everything was set for a bumper crop. Good prices, good soil moisture, and high investment in inputs (fertilizer, herbicide, etc.) were pointing to above-average yields. However, the weather did not cooperate during the growing season and the effects ar...

SOE Reform, Maybe; BRICS Hypocrisy

SOE Reform, Maybe The Trump Administration has been decrying the dominance of state-owned enterprises (SOE’s) in China’s economy and now that nation’s State-Owned Assets Supervision and Administration Commission has released guidelines for reform. But the Commission is looking...

feed-grains soy-oilseeds wheat

Market Commentary

Spread activity was the main CBOT driver today, with traders initially buying soybeans and selling wheat and corn. Long soymeal/short soyoil trading was notable as well. Disappointing export sales for corn and wheat triggered liquidation in those two commodities. Soybeans had gotten cheap enoug...

soy-oilseeds

Oilseed Highlights: Increased Brazilian Soymeal Exports, U.S. Domestic Soymeal Demand

U.S. Soymeal Exports to Face More Competition from Brazil The U.S. has faced aggressive competition in exporting soymeal from Brazil and Argentina for at least two decades. However, it appears the competition will intensify if the government of Brazil moves ahead with its plan to boost biodiese...

China versus USMCA; Global MRL’s

China versus USMCA The U.S. Congressional calendar is tight and Trump trade negotiators only have so much band width. This is leading some in the Washington trade community to speculate that the White House will emphasize USMCA passage in the next few weeks. President Trump has backed away from...

Select Filters to Apply

  • Markets
  • Publications

Search World Perspectives

Sign In to World Perspectives

Don’t have an account yet? Sign Up