3rd September 2010
BY RICHARD SMITH Japan dairy product expansion is being hampered by the prolonged economic recession and stagnant population growth rates, resulting in weak milk consumption, slow recovery in the dairy ingredient market, and soaring stocks of nonfat dry milk (NFDM) and butter. However, reduced p... more
3rd September 2010
Of any of the crops we grow, barley has the most supportive fundamentals. Following the decline in Black Sea crop prospects and losses in the EU, the International Grains Council (IGC) has reduced its 2010/11 world barley crop forecast this month by 6.1mmt, to 124.3mmt. This is down by 24mmt (pr... more
3rd September 2010
A colleague asked ProFarmer this week where we thought the wheat price would be at harvest.....good question. The past couple of months has seen a dramatic change in grain market dynamics. Problems with the 2010 nth hemisphere grain harvest have removed the stocks buffer that has accrued over t... more
3rd September 2010
The wheat market continued to consolidate and trade within the recent range over the past week. Dec’10 futures again found support at the 680USc/bu level and resistance at 730USc/bu. After another mid-week sell off the market is looking to test support again. The rally last week was largely br... more
2nd September 2010
US wheat futures rallied almost limit-up overnight on strong export market news. US wheat exporters won sales over French wheat to Egypt and German millers purchased US wheat for the first time in 3years after they also found French wheat too expensive. US corn futures rallied Wednesday, propell... more
2nd September 2010
Canola futures lifted again overnight by nearly CA$3/t as wet weather continues to plague Canadian grain growing regions. In the last 7 days the Eastern Prairie region has received as much as 62mm of rain. The near-term forecast is not that promising, above normal moisture & below normal temp... more
1st September 2010
Traders booked profits by selling grain futures overnight in an attempt to dress up trading books that have been heavily hit by losses in global equity and energy markets. Corn and soybeans were hit by losses in wheat and further losses across the macro commodities sector. Harvest delays due to... more
31st August 2010
Grain market movements were uncertain last night on outside market pressure. Fundamental news was mostly supportive and led to corn and wheat bucking the downward trend that was mostly evident across global commodity markets. Ongoing strong demand and disappointing early crop yields saw corn fut... more
27th August 2010
The Chinese consume millions of tonnes of genetically modified (GM) soybean oil every year without fuss despite the fact that attitudes toward GM food remain as divergent in the nation as they are in the rest of the world. more
27th August 2010
Australian Crop Forecasters (ACF) 2010/11 nudged winter crop estimates up 1% to 36mmt. The national wheat production estimate was lifted to 22.25mmt (up 350,000t on last month), barley 7.4mmt (up 150,000t), and Canola unchanged at 2.2mmt. Overall, improved east coast conditions are slightly out... more
27th August 2010
The wheat market continues to fluctuate around changes in available FSU supplies. Late last week the wheat market took off after Russia announced it would need to import grain. This has cast further doubts on the availability of FSU grain supplies. Ukraine is already applying administrative meas... more
27th August 2010
Wheat futures found support at the the tail of last week after a pretty aggressive sell-off. The market has been able to take a breath and “re-bull” with many continuing to spruik the Russian production issues. There is no doubt that the world has less wheat supply than it did last year, but... more
27th August 2010
Grain markets rallied on the back of strong US export sales figures, continued rebound in equity and energy markets, further talk of Russian grain imports and supportive world S&D estimates. In wheat the International Grains Council (IGC) lowered its global wheat production estimate which ca... more
26th August 2010
Wheat futures sunk overnight after Egypt preferred cheaper Canadian and French wheat. US wheat futures had been supported on the notion that production losses in Russia would turn importers to US wheat. Corn and wheat finished slightly lower under pressure from seasonal weakness and losses in th... more
25th August 2010
Ag Commodity Research reports that recent estimates place the loss to Pakistan’s cotton crop at 16%., or 700,000t. Cotton represents the second largest domestic vegetable oil crush, next to softseed crush (primarily rapeseed). Estimates are that Pakistan’s domestic cotton oil production in ... more
25th August 2010
Grains and oilseeds fell across the board due, in part, to pessimism about the economy, reflected in weaker crude oil and equities. International wheat futures tumbled overnight after forecasts for more rain in Russia improved the prospects for new crop planting. The losses overnight wiped out M... more
24th August 2010
Wheat advanced overnight as the Russian harvest confirmed disappointing results. In corn and soybeans seasonal price pressure was kept at bay by expectations of strong demand and some uncertainty with regards to final yield projections. But apart from the Russian harvest, the news was all for th... more
20th August 2010
South Korea will officially start tracking imported beef starting in December as part of an ongoing program to enhance consumer rights and speed up product recalls. This should not reduce imports, but may make them less price-competitive, some market observers predict. more
20th August 2010
With a fair amount of hysteria surrounding the grain market in recent weeks, last week’s USDA global S&D report couldn’t have been better timed. For wheat, the USDA suggested that the build-up in global wheat stocks in recent years will offset a 34mmt fall in global production. The upsh... more
20th August 2010
With a fair amount of hysteria surrounding the grain market in recent weeks, last week’s USDA global S&D report couldn’t have been better timed. For wheat, the USDA suggested that the build-up in global wheat stocks in recent years will offset a 34mmt fall in global production. The upsh... more