Australia
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS As of 15 April, Egypt had bought approximately 365,000 MT of local wheat against its purchase target of 3.6 MMT. Wheat buyers from Morocco and Tunisia were in the U.S. last week to closely examine its wheat infrastructure. The group visi...
Hog Wild Pork Markets
After a few weeks out of the market, China purchased 77,700 MT of U.S. pork last week. That makes it the number three destination (behind Mexico and Korea) for pork exports in 2019. Export sales totaled 90,700 MT, including to Korea (3,600 MT), Chile (2,900 MT), Japan (2,200 MT), Australia (1,8...
Policy Opportunities and Risks
Two new reports out this week present government policymakers with informative but confusing insights on public perceptions. The United Nations issued its seventh “World Happiness Report,” and the OECD issued a first “Risks that Matter” tome. The volumes rely heavily on...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS As of 15 April, Egypt had bought approximately 365,000 MT of local wheat against its purchase target of 3.6 MMT. Wheat buyers from Morocco and Tunisia were in the U.S. last week to closely examine its wheat infrastructure. The group visi...
Hog Wild Pork Markets
After a few weeks out of the market, China purchased 77,700 MT of U.S. pork last week. That makes it the number three destination (behind Mexico and Korea) for pork exports in 2019. Export sales totaled 90,700 MT, including to Korea (3,600 MT), Chile (2,900 MT), Japan (2,200 MT), Australia (1,8...
Policy Opportunities and Risks
Two new reports out this week present government policymakers with informative but confusing insights on public perceptions. The United Nations issued its seventh “World Happiness Report,” and the OECD issued a first “Risks that Matter” tome. The volumes rely heavily on...
Funds Slam the Markets
Last week’s Commitment of Traders (COT) report confirmed that funds (i.e., managed money) continued to expand their short positions in corn, soybeans, soymeal and wheat to either record-large levels or very nearly so. They had very little opposition to pressing the short side before last...
Asia
Black Sea Regional Analysis
Russian Grain Markets: 15-19 April 2019 While grain prices on the domestic market mostly dropped in RUB expression, they grew slightly in USD expression due to the strengthening of the ruble. Meanwhile, the average milling wheat sea export price fell to $222/MT FOB Black Sea, and purchase price...
Tri-Rift; Labor Waves
Tri-Rift President Donald Trump has ripped apart the trilateral EU-Japan-U.S. policy consortium and looks to increasingly target Europe with his bitterness. Yesterday he threatened reciprocity for Europe’s retaliatory duties against Harley Davidson, and the intent by Brussels to evade his...
Interactive Ocean Freight Rates (Updated 24 April)
Update for 24 April 2019: Thanks for the feedback and suggestions on the app below. We've made some adjustments to incorporate your ideas. Now, we're working on another app that will combine WPI's freight rate data with FOB price indications for corn, soybeans, and wheat. Stay tuned! As o...
Black Sea Regional Analysis
Russian Grain Markets: 15-19 April 2019 While grain prices on the domestic market mostly dropped in RUB expression, they grew slightly in USD expression due to the strengthening of the ruble. Meanwhile, the average milling wheat sea export price fell to $222/MT FOB Black Sea, and purchase price...
Tri-Rift; Labor Waves
Tri-Rift President Donald Trump has ripped apart the trilateral EU-Japan-U.S. policy consortium and looks to increasingly target Europe with his bitterness. Yesterday he threatened reciprocity for Europe’s retaliatory duties against Harley Davidson, and the intent by Brussels to evade his...
Interactive Ocean Freight Rates (Updated 24 April)
Update for 24 April 2019: Thanks for the feedback and suggestions on the app below. We've made some adjustments to incorporate your ideas. Now, we're working on another app that will combine WPI's freight rate data with FOB price indications for corn, soybeans, and wheat. Stay tuned! As o...
Polarized WTO; Nonautomatic Market Economy; Free Trade Diversion
Polarized WTO It is not just politics in the U.S. and Europe that are polarized – so is the global trading system. India plans to host developing country members of the WTO at a meeting next week in New Delhi to discuss how to boost their advantage in the organization. India and others co...
Black Sea
Black Sea Regional Analysis
Russian Grain Markets: 15-19 April 2019 While grain prices on the domestic market mostly dropped in RUB expression, they grew slightly in USD expression due to the strengthening of the ruble. Meanwhile, the average milling wheat sea export price fell to $222/MT FOB Black Sea, and purchase price...
Interactive Ocean Freight Rates (Updated 24 April)
Update for 24 April 2019: Thanks for the feedback and suggestions on the app below. We've made some adjustments to incorporate your ideas. Now, we're working on another app that will combine WPI's freight rate data with FOB price indications for corn, soybeans, and wheat. Stay tuned! As o...
Market Commentary
Grain and soy prices chopped slightly around either side of unchanged in overnight trade, giving rise to thoughts that those markets might be able to muster up a Turnaround Tuesday. However, it was not to be. Renewed fund selling of corn and soybean contracts kept prices under pressure througho...
Black Sea Regional Analysis
Russian Grain Markets: 15-19 April 2019 While grain prices on the domestic market mostly dropped in RUB expression, they grew slightly in USD expression due to the strengthening of the ruble. Meanwhile, the average milling wheat sea export price fell to $222/MT FOB Black Sea, and purchase price...
Interactive Ocean Freight Rates (Updated 24 April)
Update for 24 April 2019: Thanks for the feedback and suggestions on the app below. We've made some adjustments to incorporate your ideas. Now, we're working on another app that will combine WPI's freight rate data with FOB price indications for corn, soybeans, and wheat. Stay tuned! As o...
Market Commentary
Grain and soy prices chopped slightly around either side of unchanged in overnight trade, giving rise to thoughts that those markets might be able to muster up a Turnaround Tuesday. However, it was not to be. Renewed fund selling of corn and soybean contracts kept prices under pressure througho...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS As of 15 April, Egypt had bought approximately 365,000 MT of local wheat against its purchase target of 3.6 MMT. Wheat buyers from Morocco and Tunisia were in the U.S. last week to closely examine its wheat infrastructure. The group visi...
China
Black Sea Regional Analysis
Russian Grain Markets: 15-19 April 2019 While grain prices on the domestic market mostly dropped in RUB expression, they grew slightly in USD expression due to the strengthening of the ruble. Meanwhile, the average milling wheat sea export price fell to $222/MT FOB Black Sea, and purchase price...
China In-Country Analysis
Marco Trends March Economic Data Points to Effects of Stimulus and ASF In response to a sharp economic slowdown and the ongoing impact of the trade war with the U.S., China launched a series of stimulative measures at the end of 2018. After a tepid January and February, the country’s econ...
Market Commentary
Grain and soy prices chopped slightly around either side of unchanged in overnight trade, giving rise to thoughts that those markets might be able to muster up a Turnaround Tuesday. However, it was not to be. Renewed fund selling of corn and soybean contracts kept prices under pressure througho...
Black Sea Regional Analysis
Russian Grain Markets: 15-19 April 2019 While grain prices on the domestic market mostly dropped in RUB expression, they grew slightly in USD expression due to the strengthening of the ruble. Meanwhile, the average milling wheat sea export price fell to $222/MT FOB Black Sea, and purchase price...
China In-Country Analysis
Marco Trends March Economic Data Points to Effects of Stimulus and ASF In response to a sharp economic slowdown and the ongoing impact of the trade war with the U.S., China launched a series of stimulative measures at the end of 2018. After a tepid January and February, the country’s econ...
Market Commentary
Grain and soy prices chopped slightly around either side of unchanged in overnight trade, giving rise to thoughts that those markets might be able to muster up a Turnaround Tuesday. However, it was not to be. Renewed fund selling of corn and soybean contracts kept prices under pressure througho...
Polarized WTO; Nonautomatic Market Economy; Free Trade Diversion
Polarized WTO It is not just politics in the U.S. and Europe that are polarized – so is the global trading system. India plans to host developing country members of the WTO at a meeting next week in New Delhi to discuss how to boost their advantage in the organization. India and others co...
Europe
Black Sea Regional Analysis
Russian Grain Markets: 15-19 April 2019 While grain prices on the domestic market mostly dropped in RUB expression, they grew slightly in USD expression due to the strengthening of the ruble. Meanwhile, the average milling wheat sea export price fell to $222/MT FOB Black Sea, and purchase price...
Tri-Rift; Labor Waves
Tri-Rift President Donald Trump has ripped apart the trilateral EU-Japan-U.S. policy consortium and looks to increasingly target Europe with his bitterness. Yesterday he threatened reciprocity for Europe’s retaliatory duties against Harley Davidson, and the intent by Brussels to evade his...
Interactive Ocean Freight Rates (Updated 24 April)
Update for 24 April 2019: Thanks for the feedback and suggestions on the app below. We've made some adjustments to incorporate your ideas. Now, we're working on another app that will combine WPI's freight rate data with FOB price indications for corn, soybeans, and wheat. Stay tuned! As o...
Black Sea Regional Analysis
Russian Grain Markets: 15-19 April 2019 While grain prices on the domestic market mostly dropped in RUB expression, they grew slightly in USD expression due to the strengthening of the ruble. Meanwhile, the average milling wheat sea export price fell to $222/MT FOB Black Sea, and purchase price...
Tri-Rift; Labor Waves
Tri-Rift President Donald Trump has ripped apart the trilateral EU-Japan-U.S. policy consortium and looks to increasingly target Europe with his bitterness. Yesterday he threatened reciprocity for Europe’s retaliatory duties against Harley Davidson, and the intent by Brussels to evade his...
Interactive Ocean Freight Rates (Updated 24 April)
Update for 24 April 2019: Thanks for the feedback and suggestions on the app below. We've made some adjustments to incorporate your ideas. Now, we're working on another app that will combine WPI's freight rate data with FOB price indications for corn, soybeans, and wheat. Stay tuned! As o...
Market Commentary
Grain and soy prices chopped slightly around either side of unchanged in overnight trade, giving rise to thoughts that those markets might be able to muster up a Turnaround Tuesday. However, it was not to be. Renewed fund selling of corn and soybean contracts kept prices under pressure througho...
India
Black Sea Regional Analysis
Russian Grain Markets: 15-19 April 2019 While grain prices on the domestic market mostly dropped in RUB expression, they grew slightly in USD expression due to the strengthening of the ruble. Meanwhile, the average milling wheat sea export price fell to $222/MT FOB Black Sea, and purchase price...
Polarized WTO; Nonautomatic Market Economy; Free Trade Diversion
Polarized WTO It is not just politics in the U.S. and Europe that are polarized – so is the global trading system. India plans to host developing country members of the WTO at a meeting next week in New Delhi to discuss how to boost their advantage in the organization. India and others co...
Oilseed Highlights: Indian Palm Oil Tariffs; Canadian Canola; India’s Feed Sector
India’s Vegoil Refiners Push Lower Tariff Rates for Crude Palm Oil The Solvent Extractors Association (SEA) of India is pushing the government to lower the import tariff on crude palm oil to prevent further damaging of the domestic vegoil refining sector. The request is a result of surgin...
Black Sea Regional Analysis
Russian Grain Markets: 15-19 April 2019 While grain prices on the domestic market mostly dropped in RUB expression, they grew slightly in USD expression due to the strengthening of the ruble. Meanwhile, the average milling wheat sea export price fell to $222/MT FOB Black Sea, and purchase price...
Polarized WTO; Nonautomatic Market Economy; Free Trade Diversion
Polarized WTO It is not just politics in the U.S. and Europe that are polarized – so is the global trading system. India plans to host developing country members of the WTO at a meeting next week in New Delhi to discuss how to boost their advantage in the organization. India and others co...
Oilseed Highlights: Indian Palm Oil Tariffs; Canadian Canola; India’s Feed Sector
India’s Vegoil Refiners Push Lower Tariff Rates for Crude Palm Oil The Solvent Extractors Association (SEA) of India is pushing the government to lower the import tariff on crude palm oil to prevent further damaging of the domestic vegoil refining sector. The request is a result of surgin...
Can’t Walk the Talk; Limited Policy Options; On the Other Foot
Can’t Walk the Talk German Finance Minister Olaf Scholz is in Washington for the spring meetings of the International Monetary Fund (IMF) and World Bank, and he is advising “all parties” to avoid any escalation in trade tensions. Herr Scholz is no doubt concerned that the Germ...
Middle East & Africa
Black Sea Regional Analysis
Russian Grain Markets: 15-19 April 2019 While grain prices on the domestic market mostly dropped in RUB expression, they grew slightly in USD expression due to the strengthening of the ruble. Meanwhile, the average milling wheat sea export price fell to $222/MT FOB Black Sea, and purchase price...
Interactive Ocean Freight Rates (Updated 24 April)
Update for 24 April 2019: Thanks for the feedback and suggestions on the app below. We've made some adjustments to incorporate your ideas. Now, we're working on another app that will combine WPI's freight rate data with FOB price indications for corn, soybeans, and wheat. Stay tuned! As o...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS As of 15 April, Egypt had bought approximately 365,000 MT of local wheat against its purchase target of 3.6 MMT. Wheat buyers from Morocco and Tunisia were in the U.S. last week to closely examine its wheat infrastructure. The group visi...
Black Sea Regional Analysis
Russian Grain Markets: 15-19 April 2019 While grain prices on the domestic market mostly dropped in RUB expression, they grew slightly in USD expression due to the strengthening of the ruble. Meanwhile, the average milling wheat sea export price fell to $222/MT FOB Black Sea, and purchase price...
Interactive Ocean Freight Rates (Updated 24 April)
Update for 24 April 2019: Thanks for the feedback and suggestions on the app below. We've made some adjustments to incorporate your ideas. Now, we're working on another app that will combine WPI's freight rate data with FOB price indications for corn, soybeans, and wheat. Stay tuned! As o...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS As of 15 April, Egypt had bought approximately 365,000 MT of local wheat against its purchase target of 3.6 MMT. Wheat buyers from Morocco and Tunisia were in the U.S. last week to closely examine its wheat infrastructure. The group visi...
Market Commentary
Grain and oilseed markets came back from the long Easter holiday weekend in a slightly bearish mode overnight and today with wheat the weakest. Weather forecasts are starting to look better as May approaches. If they prove to be accurate, corn and soybean planting should catch up quickly. That...
North America
Tri-Rift; Labor Waves
Tri-Rift President Donald Trump has ripped apart the trilateral EU-Japan-U.S. policy consortium and looks to increasingly target Europe with his bitterness. Yesterday he threatened reciprocity for Europe’s retaliatory duties against Harley Davidson, and the intent by Brussels to evade his...
Summary of Futures
May 19 Corn closed at $3.4675/bushel, down $0.045 from yesterday's close. Jul 19 Wheat closed at $4.385/bushel, down $0.065 from yesterday's close. May 19 Soybeans closed at $8.5525/bushel, down $0.0675 from yesterday's close. May 19 Soymeal closed at $300.4/short ton, down $0...
Interactive Ocean Freight Rates (Updated 24 April)
Update for 24 April 2019: Thanks for the feedback and suggestions on the app below. We've made some adjustments to incorporate your ideas. Now, we're working on another app that will combine WPI's freight rate data with FOB price indications for corn, soybeans, and wheat. Stay tuned! As o...
Tri-Rift; Labor Waves
Tri-Rift President Donald Trump has ripped apart the trilateral EU-Japan-U.S. policy consortium and looks to increasingly target Europe with his bitterness. Yesterday he threatened reciprocity for Europe’s retaliatory duties against Harley Davidson, and the intent by Brussels to evade his...
Summary of Futures
May 19 Corn closed at $3.4675/bushel, down $0.045 from yesterday's close. Jul 19 Wheat closed at $4.385/bushel, down $0.065 from yesterday's close. May 19 Soybeans closed at $8.5525/bushel, down $0.0675 from yesterday's close. May 19 Soymeal closed at $300.4/short ton, down $0...
Interactive Ocean Freight Rates (Updated 24 April)
Update for 24 April 2019: Thanks for the feedback and suggestions on the app below. We've made some adjustments to incorporate your ideas. Now, we're working on another app that will combine WPI's freight rate data with FOB price indications for corn, soybeans, and wheat. Stay tuned! As o...
China In-Country Analysis
Marco Trends March Economic Data Points to Effects of Stimulus and ASF In response to a sharp economic slowdown and the ongoing impact of the trade war with the U.S., China launched a series of stimulative measures at the end of 2018. After a tepid January and February, the country’s econ...
South America
Interactive Ocean Freight Rates (Updated 24 April)
Update for 24 April 2019: Thanks for the feedback and suggestions on the app below. We've made some adjustments to incorporate your ideas. Now, we're working on another app that will combine WPI's freight rate data with FOB price indications for corn, soybeans, and wheat. Stay tuned! As o...
China In-Country Analysis
Marco Trends March Economic Data Points to Effects of Stimulus and ASF In response to a sharp economic slowdown and the ongoing impact of the trade war with the U.S., China launched a series of stimulative measures at the end of 2018. After a tepid January and February, the country’s econ...
Market Commentary
Grain and soy prices chopped slightly around either side of unchanged in overnight trade, giving rise to thoughts that those markets might be able to muster up a Turnaround Tuesday. However, it was not to be. Renewed fund selling of corn and soybean contracts kept prices under pressure througho...
Interactive Ocean Freight Rates (Updated 24 April)
Update for 24 April 2019: Thanks for the feedback and suggestions on the app below. We've made some adjustments to incorporate your ideas. Now, we're working on another app that will combine WPI's freight rate data with FOB price indications for corn, soybeans, and wheat. Stay tuned! As o...
China In-Country Analysis
Marco Trends March Economic Data Points to Effects of Stimulus and ASF In response to a sharp economic slowdown and the ongoing impact of the trade war with the U.S., China launched a series of stimulative measures at the end of 2018. After a tepid January and February, the country’s econ...
Market Commentary
Grain and soy prices chopped slightly around either side of unchanged in overnight trade, giving rise to thoughts that those markets might be able to muster up a Turnaround Tuesday. However, it was not to be. Renewed fund selling of corn and soybean contracts kept prices under pressure througho...
Oilseed Highlights: EU Rapeseed; EU Soy Imports; Mexican Soy Imports; Brazilian Truck Strike
Neonicotinoid Insecticide Ban May End Rapeseed Crops in the EU The EU restricted the use of three neonicotinoid insecticides on flowering plants beginning in 2013 because of a belief they were responsible for the decline in bee populations. It then banned the use of all such insecticides on all...
Russia
Tri-Rift; Labor Waves
Tri-Rift President Donald Trump has ripped apart the trilateral EU-Japan-U.S. policy consortium and looks to increasingly target Europe with his bitterness. Yesterday he threatened reciprocity for Europe’s retaliatory duties against Harley Davidson, and the intent by Brussels to evade his...
Market Commentary
Overnight trading had corn and soybean markets higher with wheat markets slightly lower, and the only thing that changed during today’s session was an extension of those gains and losses. Treasury Secretary Mnuchin’s positive comments on the China trade deal from over the weekend se...
WASDE Wheat
USDA estimates that the outlook for 2018/19 U.S. wheat is unchanged in the April WASDE. Total 2018/19 feed and residual use is lowered 10 million bushels to 70 million. Wheat exports are lowered 20 million bushels to 945 million on a continued sluggish export pace. There was a 31.5-million-bush...
Tri-Rift; Labor Waves
Tri-Rift President Donald Trump has ripped apart the trilateral EU-Japan-U.S. policy consortium and looks to increasingly target Europe with his bitterness. Yesterday he threatened reciprocity for Europe’s retaliatory duties against Harley Davidson, and the intent by Brussels to evade his...
Market Commentary
Overnight trading had corn and soybean markets higher with wheat markets slightly lower, and the only thing that changed during today’s session was an extension of those gains and losses. Treasury Secretary Mnuchin’s positive comments on the China trade deal from over the weekend se...
WASDE Wheat
USDA estimates that the outlook for 2018/19 U.S. wheat is unchanged in the April WASDE. Total 2018/19 feed and residual use is lowered 10 million bushels to 70 million. Wheat exports are lowered 20 million bushels to 945 million on a continued sluggish export pace. There was a 31.5-million-bush...
Market Commentary
It was another day of quiet, low volume, wait-and-see trade in grain and soy complex futures. Prices were a bit higher across the board overnight, but they turned to more of a mixed stance during the day session as most contracts traded on both sides of Tuesday’s closes. At the end, Chica...