Feed Grains
China In-Country Analysis
Policy Developments Will China Ultimately Retaliate? Coming on the heels of President Trump’s announcement last week confirming that his administration would implement its proposed 25 percent tariff on $50 billion worth of exports from China, Beijing said it would respond in kind with tar...
Market Commentary
Soybean and grain futures prices were lower to open the overnight session, and losses grew as trading progressed into the early morning. Understandably, soybeans were the downside leader as they are most directly threatened by Chinese tariffs. They were down more than 20 cents when trading rece...
Summary of Futures
Changes in energy products’ recent price behavior point to potential trading opportunities. Similarly, the momentum indicators in grains show opportunities in those commodities are rapidly changing as well. Finally, livestock and soft commodity futures are analyzed and their forward curve...
China In-Country Analysis
Policy Developments Will China Ultimately Retaliate? Coming on the heels of President Trump’s announcement last week confirming that his administration would implement its proposed 25 percent tariff on $50 billion worth of exports from China, Beijing said it would respond in kind with tar...
Market Commentary
Soybean and grain futures prices were lower to open the overnight session, and losses grew as trading progressed into the early morning. Understandably, soybeans were the downside leader as they are most directly threatened by Chinese tariffs. They were down more than 20 cents when trading rece...
Summary of Futures
Changes in energy products’ recent price behavior point to potential trading opportunities. Similarly, the momentum indicators in grains show opportunities in those commodities are rapidly changing as well. Finally, livestock and soft commodity futures are analyzed and their forward curve...
Trade War Havoc
Trade wars invariably involve government actions intended to impede, punish or prevent imports and exports of goods between two or more countries. The most common ammunition used by participants is the imposition of higher tariffs and/or surcharges on either imports of specific items or on an a...
Soy & Oilseeds
China In-Country Analysis
Policy Developments Will China Ultimately Retaliate? Coming on the heels of President Trump’s announcement last week confirming that his administration would implement its proposed 25 percent tariff on $50 billion worth of exports from China, Beijing said it would respond in kind with tar...
Market Commentary
Soybean and grain futures prices were lower to open the overnight session, and losses grew as trading progressed into the early morning. Understandably, soybeans were the downside leader as they are most directly threatened by Chinese tariffs. They were down more than 20 cents when trading rece...
Summary of Futures
Changes in energy products’ recent price behavior point to potential trading opportunities. Similarly, the momentum indicators in grains show opportunities in those commodities are rapidly changing as well. Finally, livestock and soft commodity futures are analyzed and their forward curve...
China In-Country Analysis
Policy Developments Will China Ultimately Retaliate? Coming on the heels of President Trump’s announcement last week confirming that his administration would implement its proposed 25 percent tariff on $50 billion worth of exports from China, Beijing said it would respond in kind with tar...
Market Commentary
Soybean and grain futures prices were lower to open the overnight session, and losses grew as trading progressed into the early morning. Understandably, soybeans were the downside leader as they are most directly threatened by Chinese tariffs. They were down more than 20 cents when trading rece...
Summary of Futures
Changes in energy products’ recent price behavior point to potential trading opportunities. Similarly, the momentum indicators in grains show opportunities in those commodities are rapidly changing as well. Finally, livestock and soft commodity futures are analyzed and their forward curve...
Trade War Havoc
Trade wars invariably involve government actions intended to impede, punish or prevent imports and exports of goods between two or more countries. The most common ammunition used by participants is the imposition of higher tariffs and/or surcharges on either imports of specific items or on an a...
Wheat
Market Commentary
Soybean and grain futures prices were lower to open the overnight session, and losses grew as trading progressed into the early morning. Understandably, soybeans were the downside leader as they are most directly threatened by Chinese tariffs. They were down more than 20 cents when trading rece...
Summary of Futures
Changes in energy products’ recent price behavior point to potential trading opportunities. Similarly, the momentum indicators in grains show opportunities in those commodities are rapidly changing as well. Finally, livestock and soft commodity futures are analyzed and their forward curve...
Trade War Havoc
Trade wars invariably involve government actions intended to impede, punish or prevent imports and exports of goods between two or more countries. The most common ammunition used by participants is the imposition of higher tariffs and/or surcharges on either imports of specific items or on an a...
Market Commentary
Soybean and grain futures prices were lower to open the overnight session, and losses grew as trading progressed into the early morning. Understandably, soybeans were the downside leader as they are most directly threatened by Chinese tariffs. They were down more than 20 cents when trading rece...
Summary of Futures
Changes in energy products’ recent price behavior point to potential trading opportunities. Similarly, the momentum indicators in grains show opportunities in those commodities are rapidly changing as well. Finally, livestock and soft commodity futures are analyzed and their forward curve...
Trade War Havoc
Trade wars invariably involve government actions intended to impede, punish or prevent imports and exports of goods between two or more countries. The most common ammunition used by participants is the imposition of higher tariffs and/or surcharges on either imports of specific items or on an a...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS As part of its budget control measures, Egypt has announced price increases of 35-40 percent for gasoline (depending on the grade) and 60 percent for home cooking gas. This announcement was made during the Eid Al-Fitr holidays to avoid any org...
Livestock
Market Commentary
Soybean and grain futures prices were lower to open the overnight session, and losses grew as trading progressed into the early morning. Understandably, soybeans were the downside leader as they are most directly threatened by Chinese tariffs. They were down more than 20 cents when trading rece...
Summary of Futures
Changes in energy products’ recent price behavior point to potential trading opportunities. Similarly, the momentum indicators in grains show opportunities in those commodities are rapidly changing as well. Finally, livestock and soft commodity futures are analyzed and their forward curve...
Market Commentary
Corn and wheat opened lower Sunday with soybeans slightly higher. Everything was slightly lower by the time markets closed this morning, and that is how they opened the day session. Soybeans traded back and forth with small gains or losses through much of today. Wheat was moderately lower with...
Market Commentary
Soybean and grain futures prices were lower to open the overnight session, and losses grew as trading progressed into the early morning. Understandably, soybeans were the downside leader as they are most directly threatened by Chinese tariffs. They were down more than 20 cents when trading rece...
Summary of Futures
Changes in energy products’ recent price behavior point to potential trading opportunities. Similarly, the momentum indicators in grains show opportunities in those commodities are rapidly changing as well. Finally, livestock and soft commodity futures are analyzed and their forward curve...
Market Commentary
Corn and wheat opened lower Sunday with soybeans slightly higher. Everything was slightly lower by the time markets closed this morning, and that is how they opened the day session. Soybeans traded back and forth with small gains or losses through much of today. Wheat was moderately lower with...
Summary of Futures
Recent price activity for ag, energy, and soft commodities is examined in tabular and graphical format. The most important price analysis is distilled for easy understanding and presentation. Starting with a five-day price history for ag, energy and soft commodity futures prices, Commodity Anal...
Biofuels
Indian Subcontinent Regional Analysis
Ethanol Production Up; Prices Nose-Dive As noted in earlier reports, India’s sugar production in sugar year 2017/18 (November-October) is expected to reach 32 MMT, and that is having an effect on ethanol production. The latter is now expected to total 3.11 billion liters (0.822 bill...
Market Commentary
The overnight market did not seem to know how to take the results of the Trump/Kim Jong Un meeting in Singapore. It ended with an announced agreement to denuclearize North Korea and for the U.S. to cease joint military exercises with South Korea. As always, the “devil is in the details,&r...
Trends Underlying Biofuel Use
With the Senate Agriculture Committee’s markup of the farm bill tomorrow morning, a number of amendments are being prepared. This includes one from Senator Deb Fischer (R-Nebraska) that would legislatively mandate a waiver for summertime use of E15. President Trump has already pledged to...
Indian Subcontinent Regional Analysis
Ethanol Production Up; Prices Nose-Dive As noted in earlier reports, India’s sugar production in sugar year 2017/18 (November-October) is expected to reach 32 MMT, and that is having an effect on ethanol production. The latter is now expected to total 3.11 billion liters (0.822 bill...
Market Commentary
The overnight market did not seem to know how to take the results of the Trump/Kim Jong Un meeting in Singapore. It ended with an announced agreement to denuclearize North Korea and for the U.S. to cease joint military exercises with South Korea. As always, the “devil is in the details,&r...
Trends Underlying Biofuel Use
With the Senate Agriculture Committee’s markup of the farm bill tomorrow morning, a number of amendments are being prepared. This includes one from Senator Deb Fischer (R-Nebraska) that would legislatively mandate a waiver for summertime use of E15. President Trump has already pledged to...
Oilseed Highlights: Brazil’s Soy Crop; WASDE Changes for Oilseed Sector; EU Rapeseed
Brazil’s Conab Raises Soybean Crop Estimate Conab, Brazil’s crop supply agency, today raised its estimate for that country’s 2018 soybean crop from 117 MMT to 118.05 MMT. This resulted from the increase in the average yield to a record 3.359 MT/hectare (49.9 bushels/acre). For...
Farm Inputs
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Syria and Russia are said to be developing a shipping route between Tartus, Syria and Sebastopol, Crimea, mainly for the supply of grain to Syria but also for building materials. Syria will ship agricultural products to Sebastopol. “Rebe...
Ag Review - May 2018
WPI's monthly publication features analyses of the U.S. grain industry, U.S. soybean marketing strategies, the U.S. biofuels industry, the global outlook for farm inputs, and policy trends. It also provides a review of agribusiness stock prices along with expectations for future performance...
Ag Review - April 2018
WPI's monthly publication features analyses of the U.S. grain industry, U.S. soybean marketing strategies, the U.S. biofuels industry, the global outlook for farm inputs, and policy trends. It also provides a review of agribusiness stock prices along with expectations for future performance...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Syria and Russia are said to be developing a shipping route between Tartus, Syria and Sebastopol, Crimea, mainly for the supply of grain to Syria but also for building materials. Syria will ship agricultural products to Sebastopol. “Rebe...
Ag Review - May 2018
WPI's monthly publication features analyses of the U.S. grain industry, U.S. soybean marketing strategies, the U.S. biofuels industry, the global outlook for farm inputs, and policy trends. It also provides a review of agribusiness stock prices along with expectations for future performance...
Ag Review - April 2018
WPI's monthly publication features analyses of the U.S. grain industry, U.S. soybean marketing strategies, the U.S. biofuels industry, the global outlook for farm inputs, and policy trends. It also provides a review of agribusiness stock prices along with expectations for future performance...
Ag Review - March 2018
WPI's monthly publication features analyses of the U.S. grain industry, U.S. soybean marketing strategies, the U.S. biofuels industry, the global outlook for farm inputs, and policy trends. It also provides a review of agribusiness stock prices along with expectations for future performance...
Equities
Market Commentary
Soybean and grain futures prices were lower to open the overnight session, and losses grew as trading progressed into the early morning. Understandably, soybeans were the downside leader as they are most directly threatened by Chinese tariffs. They were down more than 20 cents when trading rece...
Market Commentary
Corn and wheat opened lower Sunday with soybeans slightly higher. Everything was slightly lower by the time markets closed this morning, and that is how they opened the day session. Soybeans traded back and forth with small gains or losses through much of today. Wheat was moderately lower with...
Market Commentary
There probably isn’t much point in talking about fundamental issues surrounding the grain and oilseed markets as very little has changed in that regard. The Black Sea region continues to suffer from adverse weather that is reducing yields and production there, and most of Australia is sti...
Market Commentary
Soybean and grain futures prices were lower to open the overnight session, and losses grew as trading progressed into the early morning. Understandably, soybeans were the downside leader as they are most directly threatened by Chinese tariffs. They were down more than 20 cents when trading rece...
Market Commentary
Corn and wheat opened lower Sunday with soybeans slightly higher. Everything was slightly lower by the time markets closed this morning, and that is how they opened the day session. Soybeans traded back and forth with small gains or losses through much of today. Wheat was moderately lower with...
Market Commentary
There probably isn’t much point in talking about fundamental issues surrounding the grain and oilseed markets as very little has changed in that regard. The Black Sea region continues to suffer from adverse weather that is reducing yields and production there, and most of Australia is sti...
Market Commentary
The rout continues. Grains and soy complex futures prices fell again overnight, and they continued to drop throughout the day session. Interestingly, corn and wheat were relatively weaker than soybeans even though the latter have a much bigger stake in the U.S./China tariff situation. The likel...
Energy
Market Commentary
Soybean and grain futures prices were lower to open the overnight session, and losses grew as trading progressed into the early morning. Understandably, soybeans were the downside leader as they are most directly threatened by Chinese tariffs. They were down more than 20 cents when trading rece...
Summary of Futures
Changes in energy products’ recent price behavior point to potential trading opportunities. Similarly, the momentum indicators in grains show opportunities in those commodities are rapidly changing as well. Finally, livestock and soft commodity futures are analyzed and their forward curve...
Market Commentary
Corn and wheat opened lower Sunday with soybeans slightly higher. Everything was slightly lower by the time markets closed this morning, and that is how they opened the day session. Soybeans traded back and forth with small gains or losses through much of today. Wheat was moderately lower with...
Market Commentary
Soybean and grain futures prices were lower to open the overnight session, and losses grew as trading progressed into the early morning. Understandably, soybeans were the downside leader as they are most directly threatened by Chinese tariffs. They were down more than 20 cents when trading rece...
Summary of Futures
Changes in energy products’ recent price behavior point to potential trading opportunities. Similarly, the momentum indicators in grains show opportunities in those commodities are rapidly changing as well. Finally, livestock and soft commodity futures are analyzed and their forward curve...
Market Commentary
Corn and wheat opened lower Sunday with soybeans slightly higher. Everything was slightly lower by the time markets closed this morning, and that is how they opened the day session. Soybeans traded back and forth with small gains or losses through much of today. Wheat was moderately lower with...
Summary of Futures
Recent price activity for ag, energy, and soft commodities is examined in tabular and graphical format. The most important price analysis is distilled for easy understanding and presentation. Starting with a five-day price history for ag, energy and soft commodity futures prices, Commodity Anal...
Softs
Indian Subcontinent Regional Analysis
Ethanol Production Up; Prices Nose-Dive As noted in earlier reports, India’s sugar production in sugar year 2017/18 (November-October) is expected to reach 32 MMT, and that is having an effect on ethanol production. The latter is now expected to total 3.11 billion liters (0.822 bill...
India Subcontinent Regional Analysis
Wheat Procurement Exceeds Estimates; Open Market Prices Drop As of 4 June 2018, 34.724 MMT of wheat had been procured for 2018/19 by the Food Corporation of India (FCI) and state agencies, 8.51 percent more than the government of India’s (GOI’s) fixed target of 32 MMT. For reference...
Indian Subcontinent Regional Analysis
Sugar Prices Improve on GOI Intervention It seems that the government of India (GOI) has finally heeded the sugar industry’s demand and will create a buffer stock. With the Indian Sugar Manufacturers Association now boosting its sugar production forecast to 32 MMT, 2018/19 opening stocks...
Indian Subcontinent Regional Analysis
Ethanol Production Up; Prices Nose-Dive As noted in earlier reports, India’s sugar production in sugar year 2017/18 (November-October) is expected to reach 32 MMT, and that is having an effect on ethanol production. The latter is now expected to total 3.11 billion liters (0.822 bill...
India Subcontinent Regional Analysis
Wheat Procurement Exceeds Estimates; Open Market Prices Drop As of 4 June 2018, 34.724 MMT of wheat had been procured for 2018/19 by the Food Corporation of India (FCI) and state agencies, 8.51 percent more than the government of India’s (GOI’s) fixed target of 32 MMT. For reference...
Indian Subcontinent Regional Analysis
Sugar Prices Improve on GOI Intervention It seems that the government of India (GOI) has finally heeded the sugar industry’s demand and will create a buffer stock. With the Indian Sugar Manufacturers Association now boosting its sugar production forecast to 32 MMT, 2018/19 opening stocks...
Indian Subcontinent Regional Analysis
Higher Sugar Production Keeping Prices Low India’s sugar production could reach 31.5 MMT, according to the Indian Sugar Manufacturers Association (ISMA). The mills in Uttar Pradesh are still crushing sugarcane and may continue to do so until the end of the month. The higher-than-normal pr...
Macroeconomics
China In-Country Analysis
Policy Developments Will China Ultimately Retaliate? Coming on the heels of President Trump’s announcement last week confirming that his administration would implement its proposed 25 percent tariff on $50 billion worth of exports from China, Beijing said it would respond in kind with tar...
Market Commentary
The rout continues. Grains and soy complex futures prices fell again overnight, and they continued to drop throughout the day session. Interestingly, corn and wheat were relatively weaker than soybeans even though the latter have a much bigger stake in the U.S./China tariff situation. The likel...
China In-Country Analysis
Policy Developments China Sets Stage for Sourcing New Feedstuffs When China’s central government closed out May with a public declaration in support of increased imports of U.S. agricultural products and simultaneously reduced tariffs on a variety of processed food products, the announcem...
China In-Country Analysis
Policy Developments Will China Ultimately Retaliate? Coming on the heels of President Trump’s announcement last week confirming that his administration would implement its proposed 25 percent tariff on $50 billion worth of exports from China, Beijing said it would respond in kind with tar...
Market Commentary
The rout continues. Grains and soy complex futures prices fell again overnight, and they continued to drop throughout the day session. Interestingly, corn and wheat were relatively weaker than soybeans even though the latter have a much bigger stake in the U.S./China tariff situation. The likel...
China In-Country Analysis
Policy Developments China Sets Stage for Sourcing New Feedstuffs When China’s central government closed out May with a public declaration in support of increased imports of U.S. agricultural products and simultaneously reduced tariffs on a variety of processed food products, the announcem...
Protectionist in Chief?
Calling their bluff, President Donald Trump challenged his G7 partners to a trade agreement amongst the industrialist elite that would result in “no tariffs, no barriers ... and no subsidies.” It would be a difficult policy reach for relatively free trading Australia, let alone any...
Pulses
Indian Subcontinent Regional Analysis
Corn and Soymeal Exports Could Keep Prices High Indian corn is competitive and finding markets in Vietnam and Bangladesh. Vietnam continues to import Indian corn in containers at $220-225/MT delivered. This price is compared to U.S. and South American corn at $230/MT delivered. Bangladesh impor...
Indian Subcontinent Regional Analysis
Sugar Prices Improve on GOI Intervention It seems that the government of India (GOI) has finally heeded the sugar industry’s demand and will create a buffer stock. With the Indian Sugar Manufacturers Association now boosting its sugar production forecast to 32 MMT, 2018/19 opening stocks...
Indian Subcontinent Regional Analysis
India’s Vegetable Oil Demand and Imports Both Higher in 2017/18 India’s overall vegetable oil imports reached 15.573 MMT for 2017/18 (March-April), a 9.53 percent increase from 14.217 MMT the previous year. This included 15.181 MMT of edible oil and 0.392 MMT of nonedible oil, up fr...
Indian Subcontinent Regional Analysis
Corn and Soymeal Exports Could Keep Prices High Indian corn is competitive and finding markets in Vietnam and Bangladesh. Vietnam continues to import Indian corn in containers at $220-225/MT delivered. This price is compared to U.S. and South American corn at $230/MT delivered. Bangladesh impor...
Indian Subcontinent Regional Analysis
Sugar Prices Improve on GOI Intervention It seems that the government of India (GOI) has finally heeded the sugar industry’s demand and will create a buffer stock. With the Indian Sugar Manufacturers Association now boosting its sugar production forecast to 32 MMT, 2018/19 opening stocks...
Indian Subcontinent Regional Analysis
India’s Vegetable Oil Demand and Imports Both Higher in 2017/18 India’s overall vegetable oil imports reached 15.573 MMT for 2017/18 (March-April), a 9.53 percent increase from 14.217 MMT the previous year. This included 15.181 MMT of edible oil and 0.392 MMT of nonedible oil, up fr...
Indian Subcontinent Regional Analysis
Subsidy for Sugarcane Growers Unable to pay for sugarcane deliveries because of high input costs and low sugar prices, the sugar industry approached the government for an intervention. The arrears owed to farmers had reached $2.98 billion at the end of March 2018, and the government of India (G...