Australia
Market Commentary
Corn was higher with soybeans up slightly and wheat mixed in the Thursday night session. Trading volume was fairly strong overnight. This morning USDA announced sales of another 300,000 MT of soybeans to China plus 130,000 MT to “unknown” and 125,000 MT of corn to Japan. There is st...
U.S. Export Prospects Improving
USDA trimmed the U.S. wheat export forecast by 25 million bushels (680,000 MT) in the December WASDE (supply & demand), but that wasn’t a surprise given the 9 percent lag in sales against a year ago. Its revised export goal is an 11 percent increase over last year. Export sales of har...
India Subcontinent Regional Analysis
Vegetable Oil Imports Decline India’s vegetable oil imports totaled 1.073 MMT last month, a drop of 10.1 percent from 1.174 MMT in October and down 15.2 percent versus November 2017. In June 2018, the government of India (GOI) raised the duty on vegetable oils. The rates on crude palm oi...
Market Commentary
Corn was higher with soybeans up slightly and wheat mixed in the Thursday night session. Trading volume was fairly strong overnight. This morning USDA announced sales of another 300,000 MT of soybeans to China plus 130,000 MT to “unknown” and 125,000 MT of corn to Japan. There is st...
U.S. Export Prospects Improving
USDA trimmed the U.S. wheat export forecast by 25 million bushels (680,000 MT) in the December WASDE (supply & demand), but that wasn’t a surprise given the 9 percent lag in sales against a year ago. Its revised export goal is an 11 percent increase over last year. Export sales of har...
India Subcontinent Regional Analysis
Vegetable Oil Imports Decline India’s vegetable oil imports totaled 1.073 MMT last month, a drop of 10.1 percent from 1.174 MMT in October and down 15.2 percent versus November 2017. In June 2018, the government of India (GOI) raised the duty on vegetable oils. The rates on crude palm oi...
Oilseed Highlights: China and U.S. Soybean Imports; WASDE and the Soy Sector
China Apparently Deciding How Many U.S. Soybean to Import At their meeting in Buenos Aires, President Trump was able to get a commitment from President Xi to import a substantial volume of U.S. soybeans and other commodities during the 90-day truce in the trade war. Hong Kong’s South Chin...
Asia
India Subcontinent Regional Analysis
Vegetable Oil Imports Decline India’s vegetable oil imports totaled 1.073 MMT last month, a drop of 10.1 percent from 1.174 MMT in October and down 15.2 percent versus November 2017. In June 2018, the government of India (GOI) raised the duty on vegetable oils. The rates on crude palm oi...
Tale of the Tail; USMCA Strategy; Up in Smoke; Delhi Dirt
Tale of Trade Restrictions’ Tail China came into the U.S. market today for soybeans, but American farmers now realize they need to diversify their markets. Perhaps they’ve learned something from past trade wars. Consider the following: Soviet Grain Embargo 1) Before the Soviet Union...
Black Sea Regional Analysis
Russian Grain Markets: 3-7 December 2018 Active demand drove domestic grain prices higher except for corn, which had a slight decline in the South. The average milling wheat export price rose +$2/MT to $230/MT FOB Black Sea, but purchase prices at seaports were stable in RUB expression while sl...
India Subcontinent Regional Analysis
Vegetable Oil Imports Decline India’s vegetable oil imports totaled 1.073 MMT last month, a drop of 10.1 percent from 1.174 MMT in October and down 15.2 percent versus November 2017. In June 2018, the government of India (GOI) raised the duty on vegetable oils. The rates on crude palm oi...
Tale of the Tail; USMCA Strategy; Up in Smoke; Delhi Dirt
Tale of Trade Restrictions’ Tail China came into the U.S. market today for soybeans, but American farmers now realize they need to diversify their markets. Perhaps they’ve learned something from past trade wars. Consider the following: Soviet Grain Embargo 1) Before the Soviet Union...
Black Sea Regional Analysis
Russian Grain Markets: 3-7 December 2018 Active demand drove domestic grain prices higher except for corn, which had a slight decline in the South. The average milling wheat export price rose +$2/MT to $230/MT FOB Black Sea, but purchase prices at seaports were stable in RUB expression while sl...
WASDE Soyoil
USDA notes the following: Total U.S. oilseed production for 2018/19 is forecast at 135.5 million tons, up slightly due to an increase for cottonseed...
Black Sea
Market Commentary
It is hard to keep track of the rumors flying around concerning Chinese plans to buy U.S. soybeans. Their most common thread has China buying 5-8 MMT, although there are several versions of this rumor. One has Sinograin and COFCO, a state-owned trading company, as the buyers since both would pr...
Black Sea Regional Analysis
Russian Grain Markets: 3-7 December 2018 Active demand drove domestic grain prices higher except for corn, which had a slight decline in the South. The average milling wheat export price rose +$2/MT to $230/MT FOB Black Sea, but purchase prices at seaports were stable in RUB expression while sl...
Market Commentary
It has been more than 10 days since the Trump-Xi meeting in Buenos Aires wherein, according to President Trump and others in attendance, China agreed to purchase a large quantity of U.S agricultural and energy products. Yet there is no apparent sign to date that actual business has occurred. Gr...
Market Commentary
It is hard to keep track of the rumors flying around concerning Chinese plans to buy U.S. soybeans. Their most common thread has China buying 5-8 MMT, although there are several versions of this rumor. One has Sinograin and COFCO, a state-owned trading company, as the buyers since both would pr...
Black Sea Regional Analysis
Russian Grain Markets: 3-7 December 2018 Active demand drove domestic grain prices higher except for corn, which had a slight decline in the South. The average milling wheat export price rose +$2/MT to $230/MT FOB Black Sea, but purchase prices at seaports were stable in RUB expression while sl...
Market Commentary
It has been more than 10 days since the Trump-Xi meeting in Buenos Aires wherein, according to President Trump and others in attendance, China agreed to purchase a large quantity of U.S agricultural and energy products. Yet there is no apparent sign to date that actual business has occurred. Gr...
Oilseed Highlights: China and U.S. Soybean Imports; WASDE and the Soy Sector
China Apparently Deciding How Many U.S. Soybean to Import At their meeting in Buenos Aires, President Trump was able to get a commitment from President Xi to import a substantial volume of U.S. soybeans and other commodities during the 90-day truce in the trade war. Hong Kong’s South Chin...
China
SPS Minus Minus; Transatlantic Food Differences; Weighing Pressure on China
SPS Minus Minus U.S. agriculture groups responded to a U.S. request for comments on what should be the objectives in negotiating a transatlantic trade agreement, and their focus was on the usual suspect – sanitary and phytosanitary (SPS) barriers. Europe’s current technical barriers...
Market Commentary
Corn was higher with soybeans up slightly and wheat mixed in the Thursday night session. Trading volume was fairly strong overnight. This morning USDA announced sales of another 300,000 MT of soybeans to China plus 130,000 MT to “unknown” and 125,000 MT of corn to Japan. There is st...
Oilseed Highlights: China’s Soy Purchases; U.S. Soy Export Sales; Brazil Prepared
China Purchases U.S. Soybeans China has followed through on its commitment to President Trump with a purchase of U.S. soybeans. Yesterday USDA announced that private exporters reported selling 1.13 MMT to that country. USDA then today announced that another 300,000 MT were sold to Chinese buyer...
SPS Minus Minus; Transatlantic Food Differences; Weighing Pressure on China
SPS Minus Minus U.S. agriculture groups responded to a U.S. request for comments on what should be the objectives in negotiating a transatlantic trade agreement, and their focus was on the usual suspect – sanitary and phytosanitary (SPS) barriers. Europe’s current technical barriers...
Market Commentary
Corn was higher with soybeans up slightly and wheat mixed in the Thursday night session. Trading volume was fairly strong overnight. This morning USDA announced sales of another 300,000 MT of soybeans to China plus 130,000 MT to “unknown” and 125,000 MT of corn to Japan. There is st...
Oilseed Highlights: China’s Soy Purchases; U.S. Soy Export Sales; Brazil Prepared
China Purchases U.S. Soybeans China has followed through on its commitment to President Trump with a purchase of U.S. soybeans. Yesterday USDA announced that private exporters reported selling 1.13 MMT to that country. USDA then today announced that another 300,000 MT were sold to Chinese buyer...
Market Commentary
Overnight futures trade featured stronger wheat prices, lower soybean prices and corn near unchanged with only average volume. The soybean market seemed to exhibit “rumor fatigue.” When at last USDA/ FAS announced a sale of 1.13 MMT of soybeans to China under the daily reporting req...
Europe
SPS Minus Minus; Transatlantic Food Differences; Weighing Pressure on China
SPS Minus Minus U.S. agriculture groups responded to a U.S. request for comments on what should be the objectives in negotiating a transatlantic trade agreement, and their focus was on the usual suspect – sanitary and phytosanitary (SPS) barriers. Europe’s current technical barriers...
Market Commentary
Corn was higher with soybeans up slightly and wheat mixed in the Thursday night session. Trading volume was fairly strong overnight. This morning USDA announced sales of another 300,000 MT of soybeans to China plus 130,000 MT to “unknown” and 125,000 MT of corn to Japan. There is st...
U.S. Export Prospects Improving
USDA trimmed the U.S. wheat export forecast by 25 million bushels (680,000 MT) in the December WASDE (supply & demand), but that wasn’t a surprise given the 9 percent lag in sales against a year ago. Its revised export goal is an 11 percent increase over last year. Export sales of har...
SPS Minus Minus; Transatlantic Food Differences; Weighing Pressure on China
SPS Minus Minus U.S. agriculture groups responded to a U.S. request for comments on what should be the objectives in negotiating a transatlantic trade agreement, and their focus was on the usual suspect – sanitary and phytosanitary (SPS) barriers. Europe’s current technical barriers...
Market Commentary
Corn was higher with soybeans up slightly and wheat mixed in the Thursday night session. Trading volume was fairly strong overnight. This morning USDA announced sales of another 300,000 MT of soybeans to China plus 130,000 MT to “unknown” and 125,000 MT of corn to Japan. There is st...
U.S. Export Prospects Improving
USDA trimmed the U.S. wheat export forecast by 25 million bushels (680,000 MT) in the December WASDE (supply & demand), but that wasn’t a surprise given the 9 percent lag in sales against a year ago. Its revised export goal is an 11 percent increase over last year. Export sales of har...
Unveiling Good and Bad; Trump’s Effect?; The Shutdown Wolf
Unveiling Good and Bad Members of the European Parliament voted 427–172 to obligate the European Food Safety Authority (EFSA) to publish all relevant scientific study data ahead of its decisions. This contrasts with those in the U.S. who want to stop the Trump administration from making a...
India
India Subcontinent Regional Analysis
Vegetable Oil Imports Decline India’s vegetable oil imports totaled 1.073 MMT last month, a drop of 10.1 percent from 1.174 MMT in October and down 15.2 percent versus November 2017. In June 2018, the government of India (GOI) raised the duty on vegetable oils. The rates on crude palm oi...
Tale of the Tail; USMCA Strategy; Up in Smoke; Delhi Dirt
Tale of Trade Restrictions’ Tail China came into the U.S. market today for soybeans, but American farmers now realize they need to diversify their markets. Perhaps they’ve learned something from past trade wars. Consider the following: Soviet Grain Embargo 1) Before the Soviet Union...
WASDE Soybeans
USDA notes the following about soybeans: Soybean supply and use projections for 2018/19 are unchanged from last month. With soybean exports and crush unchanged, soybean ending stocks are projected at a record 955 million bushels. The U.S. season- average soybean price for 2018/19 is forecast at...
India Subcontinent Regional Analysis
Vegetable Oil Imports Decline India’s vegetable oil imports totaled 1.073 MMT last month, a drop of 10.1 percent from 1.174 MMT in October and down 15.2 percent versus November 2017. In June 2018, the government of India (GOI) raised the duty on vegetable oils. The rates on crude palm oi...
Tale of the Tail; USMCA Strategy; Up in Smoke; Delhi Dirt
Tale of Trade Restrictions’ Tail China came into the U.S. market today for soybeans, but American farmers now realize they need to diversify their markets. Perhaps they’ve learned something from past trade wars. Consider the following: Soviet Grain Embargo 1) Before the Soviet Union...
WASDE Soybeans
USDA notes the following about soybeans: Soybean supply and use projections for 2018/19 are unchanged from last month. With soybean exports and crush unchanged, soybean ending stocks are projected at a record 955 million bushels. The U.S. season- average soybean price for 2018/19 is forecast at...
Oilseed Highlights: China and U.S. Soybean Imports; WASDE and the Soy Sector
China Apparently Deciding How Many U.S. Soybean to Import At their meeting in Buenos Aires, President Trump was able to get a commitment from President Xi to import a substantial volume of U.S. soybeans and other commodities during the 90-day truce in the trade war. Hong Kong’s South Chin...
Middle East & Africa
U.S. Export Prospects Improving
USDA trimmed the U.S. wheat export forecast by 25 million bushels (680,000 MT) in the December WASDE (supply & demand), but that wasn’t a surprise given the 9 percent lag in sales against a year ago. Its revised export goal is an 11 percent increase over last year. Export sales of har...
India Subcontinent Regional Analysis
Vegetable Oil Imports Decline India’s vegetable oil imports totaled 1.073 MMT last month, a drop of 10.1 percent from 1.174 MMT in October and down 15.2 percent versus November 2017. In June 2018, the government of India (GOI) raised the duty on vegetable oils. The rates on crude palm oi...
Market Commentary
Overnight futures trade featured stronger wheat prices, lower soybean prices and corn near unchanged with only average volume. The soybean market seemed to exhibit “rumor fatigue.” When at last USDA/ FAS announced a sale of 1.13 MMT of soybeans to China under the daily reporting req...
U.S. Export Prospects Improving
USDA trimmed the U.S. wheat export forecast by 25 million bushels (680,000 MT) in the December WASDE (supply & demand), but that wasn’t a surprise given the 9 percent lag in sales against a year ago. Its revised export goal is an 11 percent increase over last year. Export sales of har...
India Subcontinent Regional Analysis
Vegetable Oil Imports Decline India’s vegetable oil imports totaled 1.073 MMT last month, a drop of 10.1 percent from 1.174 MMT in October and down 15.2 percent versus November 2017. In June 2018, the government of India (GOI) raised the duty on vegetable oils. The rates on crude palm oi...
Market Commentary
Overnight futures trade featured stronger wheat prices, lower soybean prices and corn near unchanged with only average volume. The soybean market seemed to exhibit “rumor fatigue.” When at last USDA/ FAS announced a sale of 1.13 MMT of soybeans to China under the daily reporting req...
Market Commentary
It is hard to keep track of the rumors flying around concerning Chinese plans to buy U.S. soybeans. Their most common thread has China buying 5-8 MMT, although there are several versions of this rumor. One has Sinograin and COFCO, a state-owned trading company, as the buyers since both would pr...
North America
Paying the Bill for the Farm Bill
The final conference report farm bill, which is now on the president’s desk awaiting signature, totals $428 billion for its 2019-2023 authorization period; most references in the media to a $867 billion cost are based on a 10-year baseline for the five-year bill. Because of the Balanced B...
SPS Minus Minus; Transatlantic Food Differences; Weighing Pressure on China
SPS Minus Minus U.S. agriculture groups responded to a U.S. request for comments on what should be the objectives in negotiating a transatlantic trade agreement, and their focus was on the usual suspect – sanitary and phytosanitary (SPS) barriers. Europe’s current technical barriers...
Market Commentary
Corn was higher with soybeans up slightly and wheat mixed in the Thursday night session. Trading volume was fairly strong overnight. This morning USDA announced sales of another 300,000 MT of soybeans to China plus 130,000 MT to “unknown” and 125,000 MT of corn to Japan. There is st...
Paying the Bill for the Farm Bill
The final conference report farm bill, which is now on the president’s desk awaiting signature, totals $428 billion for its 2019-2023 authorization period; most references in the media to a $867 billion cost are based on a 10-year baseline for the five-year bill. Because of the Balanced B...
SPS Minus Minus; Transatlantic Food Differences; Weighing Pressure on China
SPS Minus Minus U.S. agriculture groups responded to a U.S. request for comments on what should be the objectives in negotiating a transatlantic trade agreement, and their focus was on the usual suspect – sanitary and phytosanitary (SPS) barriers. Europe’s current technical barriers...
Market Commentary
Corn was higher with soybeans up slightly and wheat mixed in the Thursday night session. Trading volume was fairly strong overnight. This morning USDA announced sales of another 300,000 MT of soybeans to China plus 130,000 MT to “unknown” and 125,000 MT of corn to Japan. There is st...
Summary of Futures
Mar 19 Corn closed at $3.8475/bushel, up $0.005 from yesterday's close. Mar 19 Wheat closed at $5.3/bushel, down $0.06 from yesterday's close. Jan 19 Soybeans closed at $9.005/bushel, down $0.065 from yesterday's close. Jan 19 Soymeal closed at $307.3/short ton, down $1.2 from...
South America
Market Commentary
Corn was higher with soybeans up slightly and wheat mixed in the Thursday night session. Trading volume was fairly strong overnight. This morning USDA announced sales of another 300,000 MT of soybeans to China plus 130,000 MT to “unknown” and 125,000 MT of corn to Japan. There is st...
U.S. Export Prospects Improving
USDA trimmed the U.S. wheat export forecast by 25 million bushels (680,000 MT) in the December WASDE (supply & demand), but that wasn’t a surprise given the 9 percent lag in sales against a year ago. Its revised export goal is an 11 percent increase over last year. Export sales of har...
Oilseed Highlights: China’s Soy Purchases; U.S. Soy Export Sales; Brazil Prepared
China Purchases U.S. Soybeans China has followed through on its commitment to President Trump with a purchase of U.S. soybeans. Yesterday USDA announced that private exporters reported selling 1.13 MMT to that country. USDA then today announced that another 300,000 MT were sold to Chinese buyer...
Market Commentary
Corn was higher with soybeans up slightly and wheat mixed in the Thursday night session. Trading volume was fairly strong overnight. This morning USDA announced sales of another 300,000 MT of soybeans to China plus 130,000 MT to “unknown” and 125,000 MT of corn to Japan. There is st...
U.S. Export Prospects Improving
USDA trimmed the U.S. wheat export forecast by 25 million bushels (680,000 MT) in the December WASDE (supply & demand), but that wasn’t a surprise given the 9 percent lag in sales against a year ago. Its revised export goal is an 11 percent increase over last year. Export sales of har...
Oilseed Highlights: China’s Soy Purchases; U.S. Soy Export Sales; Brazil Prepared
China Purchases U.S. Soybeans China has followed through on its commitment to President Trump with a purchase of U.S. soybeans. Yesterday USDA announced that private exporters reported selling 1.13 MMT to that country. USDA then today announced that another 300,000 MT were sold to Chinese buyer...
India Subcontinent Regional Analysis
Vegetable Oil Imports Decline India’s vegetable oil imports totaled 1.073 MMT last month, a drop of 10.1 percent from 1.174 MMT in October and down 15.2 percent versus November 2017. In June 2018, the government of India (GOI) raised the duty on vegetable oils. The rates on crude palm oi...
Russia
Market Commentary
Corn was higher with soybeans up slightly and wheat mixed in the Thursday night session. Trading volume was fairly strong overnight. This morning USDA announced sales of another 300,000 MT of soybeans to China plus 130,000 MT to “unknown” and 125,000 MT of corn to Japan. There is st...
U.S. Export Prospects Improving
USDA trimmed the U.S. wheat export forecast by 25 million bushels (680,000 MT) in the December WASDE (supply & demand), but that wasn’t a surprise given the 9 percent lag in sales against a year ago. Its revised export goal is an 11 percent increase over last year. Export sales of har...
Market Commentary
Overnight futures trade featured stronger wheat prices, lower soybean prices and corn near unchanged with only average volume. The soybean market seemed to exhibit “rumor fatigue.” When at last USDA/ FAS announced a sale of 1.13 MMT of soybeans to China under the daily reporting req...
Market Commentary
Corn was higher with soybeans up slightly and wheat mixed in the Thursday night session. Trading volume was fairly strong overnight. This morning USDA announced sales of another 300,000 MT of soybeans to China plus 130,000 MT to “unknown” and 125,000 MT of corn to Japan. There is st...
U.S. Export Prospects Improving
USDA trimmed the U.S. wheat export forecast by 25 million bushels (680,000 MT) in the December WASDE (supply & demand), but that wasn’t a surprise given the 9 percent lag in sales against a year ago. Its revised export goal is an 11 percent increase over last year. Export sales of har...
Market Commentary
Overnight futures trade featured stronger wheat prices, lower soybean prices and corn near unchanged with only average volume. The soybean market seemed to exhibit “rumor fatigue.” When at last USDA/ FAS announced a sale of 1.13 MMT of soybeans to China under the daily reporting req...
Tale of the Tail; USMCA Strategy; Up in Smoke; Delhi Dirt
Tale of Trade Restrictions’ Tail China came into the U.S. market today for soybeans, but American farmers now realize they need to diversify their markets. Perhaps they’ve learned something from past trade wars. Consider the following: Soviet Grain Embargo 1) Before the Soviet Union...