THE HIGHTOWER REPORT
|
|
- Marilynn Hudson
- 6 years ago
- Views:
Transcription
1 Futures Analysis & Forecasting HightowerReport.com Strategies for the March 31st USDA Prospective Plantings Report Large Grain Supply May Not Be Enough! Several years ago, the amount of food consumed inside the home was surpassed by what was consumed outside of the home. With a growing middle class around the world and in particular in India and China, we suspect that in addition to the amount of consumption outside of homes rising, the food will have to travel further and be processed in growing layers of distribution. As can be seen in the graphic, the amount of spoilage, waste and lost food is significant, and that should raise the amount of foodstuffs needed from global production. It is well documented that a shift from rural areas to urban areas can have the impact of doubling energy needs, and appears that same rule applies to food consumption. While actively traded grain prices are weak and many have fallen close to their cost of production, other food items like chickpeas, Asian vegetables, Vietnamese rice, South African maize, and Australian avocados have seen significant price gains because of real and perceived influences from El Niño. For a long time, we have maintained that the world needs nearly-perfect grain production to meet its needs, and the way food is consumed is raising that bar! It should also be noted that trend-following funds already hold a massive net short position in excess of 4, contracts in grains well before planted area is now and therefore the markets have been already priced in bearish fears, and the downside may be very limited. With crude oil making noted recovery gains, copper prices at their highest level since mid-november, sugar prices at a one-year high, palm oil reaching a 24 month high and soybean oil prices reaching up to the highest level in one-year, there are a number of markets signalling an end to the spiralling deflationary mantra! For a FREE TRIAL of Daily Research and Trade Recommendations go to HightowerReport.com Global quantitative food losses and waste for each commodity group per year: CEREALS In industrialized countries, consumers throw away 286 million tonnes of cereal products. DAIRY PRODUCTS In Europe alone, 29 million tonnes of dairy products are lost or wasted every year. FISH AND SEAFOOD 8% of fish caught globally is thrown back into the sea. In most cases they are dead, dying or badly damaged. FRUITS AND VEGETABLES Almost half of all the fruits and vegetables produced are wasted. MEAT Of the 263 million tonnes of meat produced globally, over 2% is lost or wasted. OILSEEDS AND PULSES Every year, 22% of the global production of oilseeds and pulses is lost or wasted. ROOTS AND TUBERS In North America & Oceania alone, tonnes of roots and tubers are wasted at the consumption stage alone. Source: FAO Trade Recommendations Pre-open and Midday Audio Updates Fundamental & Technial Chart Library Daily Fundametal & Technical Analysis Investors should carefully consider the inherent risks of such an investment in light of their financial condition. Page 1
2 SOYBEANS With world soybean beginning stocks for the 216/17 season at a record high and US beginning stocks at a 9-year high, it may take a significant weather scare for the soybean market bulls to get much traction this spring. The March 31st USDA Prospective Plantings and Quarterly Grain Stocks reports will provide a more accurate indicator of potential supply burdens for the coming year, especially if the weather for this growing season ends up being close to normal. Until the weather becomes a more significant factor later this spring, the market s focus will be on the intended planted area for the new crop season Jul-97 Jul-97 July 1998 Soybeans vs. Beanoil vs. Soymeal Index July 1997 = 1 Aug-97 Soybeans Soymeal Beanoil Sep-97 Sep-97 Oct-97 Nov-97 Nov-97 Dec-97 Jan-98 Jan-98 Feb-98 Mar-98 Mar-98 Apr-98 May-98 Jun-98 Jun-98 Jul-98 Preliminary Plantings Estimates may be Too High Each year at their annual Outlook Conference in late February, the USDA offers a preliminary forecast of planted area for the upcoming growing season. Over the past 15 years, the March 31st Prospective Plantings number (based on a survey of planting intentions of US farmers) has varied from 5.34% above to 5.44% below the Outlook Conference estimate. At the Outlook Conference this year, the USDA forecast soybean planted area at 82.5 million acres. The data in the table suggests that the Prospective Plantings number is likely to fall within the 78. to 86.9 million acre range and most likely in the 8.85 to million range. We see planted acreage near 83.6 million acres. There has been an above-average amount of prevent-plant acreage over the past few years (This is acreage that was unable to be planted in time due to poor conditions such as flooding, and which farmers were prevented from planting at a later date if Soybean Planted Area: USDA Outlook Conference Vs. March 31st Prospective Plantings Year Outlook Conference March 31st Prospective Plantings Change % Change (Million Acres) 21 74,5 76,657 2, % 22 74,5 72,966-1, % 23 72,2 73, % 24 74,5 75, % 25 73, 73, % 26 73,5 76,895 3, % 27 71, 67,14-3, % 28 71, 74,793 3, % 74, 76,24 2, % 76,5 78,98 1, % 78, 76,69-1, % 75, 73,92-1, % , 77,126 1, % 79,5 81,493 1, % ,5 84,635 1, % ,5 Investors should carefully consider the inherent risks of such an investment in light of their financial condition. Page 2
3 they wanted to collect insurance on that lost acreage). It may be unrealistic to assume a high prevent-plant amount this year, and many traders feel that the USDA plantings forecast for all crops may be underestimated by 2-3 million acres. 25, 2, 15, Soybeans - COT - Futures & Options Non-Commercial - No CIT Net Position Number Of Contracts Hard to Avoid Burdensome Supply for 216/17 Looking ahead at the US Soybean Supply/ Demand outlook for the 216/17 market year, if we assume planted area is unchanged from last year and the yield comes in at 47 bushels per acre, ending stocks could come in at 627 million bushels (which would be a new record high). If the weather this spring is wetter than normal, traders will expect producers to shift some of their acreage from corn to soybeans which have a shorter growing season. The recent flooding from Texas up to Missouri might have already shifted some acres that way. The enclosed supply/demand table shows some what-ifs for the new crop season using various yields. We reduced our demand outlook numbers from the USDA s Outlook Conference forecasts because we feel that the record production in South America and the strong US dollar will hurt US soybean exports (The far right-hand column of the table shows the Outlook Conference numbers). If yield comes in 3% above the USDA forecast, ending stocks could swell to a record-high 72 million bushels. If there are minor weather issues and yield is 3% below the USDA s number, ending stocks could still come in at 492 million bushels. The exercise illustrates the difficulty the bull camp faces this year unless there is a major yield-reducing weather problem. Million Bushels 1, 5, -5, -1, -15, -2, : USDA Estimate 216: Hightower Forecast US Soybean Ending Stocks Investors should carefully consider the inherent risks of such an investment in light of their financial condition. Page 3
4 The March 1st stocks report will give traders a good measure of recent demand and help determine just how high ending stocks might be for the 215/16 season which will be beginning stocks for 216/17. We estimate March 1st stocks to be near billion bushels which would be the third highest on record (see chart). El Niño Still Bullish for Soybean Oil While there is a bearish supply outlook for soybeans and meal, the El Niño weather issues for Malaysian and Indonesian palm oil production can still have a significant, positive impact on all vegetable oil prices. The chart (page 2) covers the period following the last major El Niño phase of Million Bushels 2,2 2, 1,8 1,6 1,4 1,2 1, US Soybean March 1st Grain Stocks 216: Hightower Estimate , , , , , ,37.2 1, , , , , , , , , , , , , ,27.7 1, , , , USDA SUPPLY/DEMAND "What If's" for 216/17 US SOYBEANS Mar Mar Mar USDA USDA USDA USDA Yield Yield Outlook Up 3% Down 3% Conf. Planted Area (M Acres) Harvested Area (Acres) Yield (Bu/Acre) Beginning Stocks (M Bu) Production 3,197 2,677 2,967 3,361 3,331 3,97 3,42 3,358 3,927 3,929 3,925 3,697 3,81 Imports Supply,Total 3,655 3,261 3,185 3,514 3,497 3,328 3,252 3,57 4,52 4,15 4,455 4,227 4,3 Crushings 1,88 1,83 1,662 1,752 1,648 1,73 1,689 1,734 1,873 1,87 1,88 1,88 1,9 Exports 1,116 1,159 1,279 1,499 1,55 1,365 1,317 1,638 1,843 1,69 1,725 1,725 1,825 Seed Residual Use, Total 3,81 3,56 3,47 3,363 3,282 3,159 3,111 3,478 3,862 3,69 3,735 3,735 3,85 Ending Stocks Stocks/Use Ratio 18.6% 6.7% 4.5% 4.5% 6.6% 5.4% 4.5% 2.6% 4.9% 12.5% 19.3% 13.2% 11.7% Investors should carefully consider the inherent risks of such an investment in light of their financial condition. Page 4
5 1997/98. The July 1998 Soybean and Soybean Meal contracts remained under pressure into June 1998, while July Soybean Oil rallied sharply. This illustrates how soybean oil could rally even if there is another leg down in soybeans into the summer. March Rally Helps Correct Oversold Status The soybean market experienced an impressive rally off of the early March lows, correcting some of the market s oversold condition. The Commitment-of-Traders reports as of March 15th showed that trendfollowing fund traders were net short 26,718 contracts, down from the record net short of 135,44 contracts. This has left the market a little less oversold. July Soybeans should see good resistance at $9.25, and a close under $8.87 3/4 would open the door for a resumption of the downtrend, with the next target at $8.35. With the overall trend down, we will look to position for another leg down in April going into the planting season. The release of the March 31st report makes that a key volatility date, so we will consider spread strategies in soybean options that will allow us to lift one a leg at a profit, in case the reports are perceived to be bullish, for a temporary bounce. Consider the following: Suggested Trading Strategies 1) Bear Put Spread - BUY 1 July Soybean $9. put and SELL 1 July Soybean $8.6 put for a net cost of 15 cents. Use an objective of 34 cents on the spread, and risk a total of 6 cents. If the market rallies off the March 31st reports, consider lifting the short July $8.6 put position, and hold the July $9. put until July Soybean futures reach the $8.35 objective. 2) SELL 1 July Soybean $8.8 put for around 17 cents, and BUY 6 July $8.2 puts for 3 ½ cents each for a net cost of 4 cents on the spread. If in 4 days July Soybeans are trading near $8.35, the spread should be trading for around 32 1/2 cents, a gain of 28 ½ cents. This position allows for plenty of flexibility for the report. If the market rallies off the March 31st reports, consider lifting the short July $8.8 put position for a gain, and hold the July $8.2 puts until July soybeans hit the $8.35 objective. Risk a total of 12 cents on the spread, and do not hold past May 2th. Nov Soybeans - Price Changes After March Planting Intentions Day Of 7 Days One Month Investors should carefully consider the inherent risks of such an investment in light of their financial condition. Page 5
6 CORN While it is difficult to see a bullish set-up for soybeans without significant help from the weather, the corn market seems to have already priced much of the short-term bearish fundamental news, and a minor setback in yield for the new crop season could leave the market with relatively tight supplies and in need of a weather premium. The March 31st Prospective Plantings and Grain Stocks report will provide the market with a better indication of new crop fundamentals. With Chinese corn prices down closer to market levels combining with the China lifting its 9-year ethanol production ban means we could see a surge in China's use of its domestic stockpile for feed and fuel production. Chinese officials, in fact, are expected to soon release a plan for selling part of the governmentowned reserves. This could mean a possible significant jump in global corn usage. Preliminary Plantings Estimates may be Too High Over the past 15 years, the March 31st Prospective Plantings number (based on a survey of US farmers) has varied from 5.18% above to 4.27% below the USDA s February Outlook Conference estimate. At the Outlook Conference this year, the USDA forecast corn planted area at 9. million acres. The data in the enclosed table suggests that the Prospective Plantings number is likely to fall within a range of 86.1 to 94.6 million acres, and mostly likely in the 88.2 to 91.8 million range. Similar to soybeans, there has been an above-average amount of prevent-plant acreage over the past few years, However, it may be unrealistic to assume a high prevent-plant amount this year and many traders feel that the USDA plantings forecast for all crops may be underestimated by 2-3 million acres. With Billion Bushels US Corn Ending Stocks : USDA Estimate 216: Hightower Forecast Corn Planted Area: USDA Outlook Conference Vs. March 31st Prospective Plantings Year Outlook Conference March 31st Prospective Plantings Change % Change (Million Acres) 21 79,6 76,693-2, % 22 78,5 79, % 23 8,5 79,22-1, % 24 8,5 79,4-1, % 25 82, 81, % 26 81,5 78,19-3, % 27 86, 9,454 4, % 28 88, 86,14-1, % 88, 84,986-3, % 88, 88, % 92, 92, % 94, 95,864 1, % , 97,282 1, % 92, 91, % ,1 89, % 216 9, Investors should carefully consider the inherent risks of such an investment in light of their financial condition. Page 6
7 USDA SUPPLY/DEMAND "What If's" for 216/17 US CORN Mar Mar Mar Bull Case USDA USDA USDA 5% down Outlook yr trend Bear Case USDA Planted Area (M Acres) Harvested Area (Acres) Yield (Bu/Acre) Beginning Stocks (M Bu) 1,34 1,624 1,673 1,78 1, ,232 1,731 1,837 1,88 1,837 Production 13,38 12,43 13,67 12,425 12,314 1,755 13,829 14,216 13,61 13,18 14,181 13,826 Imports Supply, Total 14,362 13,681 14,749 14,161 13,471 11,94 14,686 15,479 15,382 14,95 16,111 15,73 Feed & Residual 5,858 5,133 5,11 4,777 4,52 4,315 5,4 5,324 5,3 5,425 5,425 5,425 Food, Seed & Industry 4,442 5,25 5,961 6,425 6,421 6,38 6,493 6,56 6,595 6,595 6,595 6,6 Ethanol for Fuel 3,49 3,79 4,591 5,19 5, 4,641 5,124 5,2 5,225 5,225 5,225 5,225 Domestic Total 1,3 1,159 11,62 11,22 1,941 1,353 11,534 11,883 11,895 12,2 12,2 12,25 Total Exports 2,437 1,849 1,979 1,831 1, ,92 1,864 1,65 1,75 1,75 1,7 Use, Total 12,737 12,8 13,41 13,33 12,482 11,83 13,454 13,748 13,545 13,77 13,77 13,725 Ending Stocks 1,624 1,673 1,78 1, ,232 1,731 1,837 1,135 2,341 1,978 Stocks/Use Ratio 12.8% 13.9% 13.1% 8.7% 7.9% 7.4% 9.2% 12.6% 13.6% 8.2% 17.% 14.4% the extremely depressed prices, we have already heard acreage estimates as low as 87 million. We estimate planted area near 89. million acres, down 1 million from the USDA. Winter wheat plantings were down 3 million acres and many traders see this land moving to corn. However, our studies have shown that there is not a strong correlation between low wheat acreage and higher corn acreage. Instead, there is a 5-5 chance that when wheat acreage is down, that corn acres will be down. In other words, when producer profitability is down, there may be lots of fringe acres which will simply not get planted. Trendline Yield Less Likely as Fertilizer Use Declines Looking at the US corn supply/demand outlook for 216/17, if we assume planted area comes in at 89 million acres (down 1.1% from the preliminary USDA estimate) and the yield comes in at bushels per acre (still fourth highest on record), ending stocks could come in at just billion bushels, with a stocks/usage ratio of 8.2%. This would be the fourth tightest corn market in 42 years. If the weather this spring is wetter than normal, traders will expect producers to shift some of their acreage from corn to soybeans, which have a shorter growing season. The recent flooding from Texas up to Missouri might have already shifted some acres. The enclosed supply/demand table shows some what ifs for the new crop season using various yields and planting totals. With the bull case laid out above, the bear case cannot be ruled out. If planted acreage is revised higher to 91.5 million bushels and yield comes in at 169 bushels per acre, US ending stocks could swell to billion bushels, which would be a 29-year high. But while US producers may make a strong effort to get corn acres planted this year, we expect a sharp drop in inputs like fertilizer due to low corn prices, making a yield this high difficult to attain. The March 1st stocks report will give traders a good read on recent demand and help the market determine just how high ending stocks might be for the 215/16 season which will be beginning stocks for 216/17. We see March 1st stocks near 7.78 billion bushels which would be up 3 million from last year and the highest since the late 198 s. It is not uncommon for the actual March 1st stocks to come in 15 million bushels or more above or below the average trade estimate as feed usage for the Dec Feb quarter is difficult to predict. As a result, there has been active and volatile trade after the release of this report. Investors should carefully consider the inherent risks of such an investment in light of their financial condition. Page 7
8 Corn Historically Oversold The other grain markets experienced an impressive rally off of the early March lows, which corrected some of those markets oversold condition. December corn posted a key reversal on March 2nd, which is a technical sign that a major low may be in place. However, fund traders sold more corn on the early part of the rally, leaving the corn market historically oversold going into the planting season. The Commitment of Traders reports as of March 15th showed trend-following fund traders (hedge funds) holding a net short position of 227,75 contracts. The previous week was a record 265,394 contracts. There are a number of events that could spark aggressive buying in the weeks ahead: 1) Wet spring weather, which leads to less planted area, 2) Too much dryness in either a major growing area of the US or in regions of Brazil where their second corn crop is developing and April/May weather is critical to yield, 3) A general re-inflation of commodity markets if there is any sign of a strong global economy or a sharp drop in the US dollar. With fund traders already holding a near record net short position, fundamentals will need to worsen from the March 2nd lows for the market to experience aggressive new selling. If the March 31st reports are not bearish, it would appear that the market would be holding little or no weather premium, leaving it in a position for a rally into the early growing season. Billion Bushels , 3, 2, 1, -1, -2, US Corn March 1st Grain Stocks 216: Hightower Estimate Corn -COT -Futures & Options Non-Commercial - No CIT Net Position Number Of Contracts With the possibility that a major low is in place, we will look to position for a slow but steady grind higher into June. A base position of long December futures is -3, Investors should carefully consider the inherent risks of such an investment in light of their financial condition. Page 8
9 advised, but traders will need protection for the March 31st report just in case producers intend to plant significantly more acres. 6 5 Dec Corn - Price Changes After March Planting Intentions Day Of 7 Days One Month 4 Suggested Trading Strategies 3 1) BUY December corn (near $3.84 1/2) and also SELL 1 September corn $4. call (near 18 cents) and BUY 1 September corn $3.7 put (near 21 cents). If September corn breaks after the March 31st reports, lift both of the options for a gain and hold December futures for a run to $4.31 3/4. Risk a total of 13 cents on the entire position ) BUY December corn at $3.79 1/2 with an objective of $4.31 3/4. Risk to $3.65 1/ WHEAT The March 31st acreage and stocks reports are not as volatile for wheat as the other grains. Winter wheat plantings have already been released and are down 3 million acres from last year. Given the very cheap price, we would expect the acreage report to carry a bullish tilt as producer incentive to plant spring wheat is weak. The market seems to be probing for a major low as world stocks have increased for three years in a row to a record high for the 215/16 season. At present, it appears that global production will be similar or just slightly higher than global demand for the coming year but the weather in the next six weeks will have a significant impact on the global stocks outlook. 4, 2, -2, -4, -6, -8, -1, -12, -14, -16, 26 Chicago Wheat - COT - Futures & Options Non-Commercial - No CIT Net Position Number Of Contracts It may take a significant weather issue from a major world exporter (EU, US, Canada, Australia or Black Sea) to expect any type Investors should carefully consider the inherent risks of such an investment in light of their financial condition. Page 9
10 of extended bull trend. The US crop has already been hit with one cold snap and the market will remain vulnerable to either cold weather or dryness in the western plains for production losses. There seems to be plenty of uncertainty over the size of the Indian crop and with the oversold condition basis the COT report, it may be hard to find a situation more bearish than near the March low unless weather stays near ideal in the weeks ahead. Talk that Indian production could be down 13 million tonnes from their current government forecast failed to provide much support recently. In fact, the India Agriculture minister suggests that some damage was done with recent rains and hail but losses will be closer to 1-2 million tonnes; not 13 million. The March 1st stocks report will give traders a good measure of recent demand and help the market determine just how high ending stocks might be for the 215/16 season which will be beginning stocks for 216/17. We see March 1st stocks near billion bushels. The Commitments of Traders reports as of March 15th showed trend-following fund traders were net short 114,921 contracts which is not far off of the record net short of 149,226 contracts which occurred on March 1st. July wheat is still operating under the positive technical influence of the March 2nd key reversal. With the extreme oversold condition, it will not take much in the way of positive news to spark aggressive buying and short-covering. Million Bushels 2, 1,8 1,6 1,4 1,2 1, , , , , , , , , ,29.77 Suggested Trading Strategies 1) BUY July wheat (near $4.68) and also BUY 2 of the July wheat 46 puts near 9 ½ cents each. If wheat breaks after the March 31st reports, lift one or both of the puts for a gain and hold July futures for a run to $5.17. Risk a total of 12 cents on the entire position. US Wheat March 1st Grain Stocks 216: Hightower Estimate , ,4.6 1, , , , , , , Disclaimer The information in this report may be considered dated upon its release and should not be considered interpersonal advice. This report is merely an opinion on the market and is a reflection of conditions as of its publication. Market conditions change! Traders should not consider entering positions without their own independent analysis of the market s current situation, nor without further consideration of any changes to the information contained herein that may have occurred since this report was written. The authors are not responsible for any verbal or written claims and opinions that might be provided in conjunction with this report. The trading suggestions contained herein have been provided merely as a general guide and only for the purpose of quantifying the authors opinions. This report includes information from sources believed to be reliable but no independent verification has been made and we do not guarantee its accuracy or completeness. Opinions expressed are subject to change without notice. This report should not be construed as a request to engage in any transaction involving the purchase or sale of a futures contract and/or commodity option thereon. The risk of loss in trading futures contracts or commodity options can be substantial, and investors should carefully consider the inherent risks of such an investment in light of their financial condition. Any reproduction or retransmission of this report without the express written consent of The Hightower Report is strictly prohibited. Investors should carefully consider the inherent risks of such an investment in light of their financial condition. Page 1
Ending stocks can adjust due to a variety of factors from changes in production as well as adjustments to beginning stocks and demand.
1 2 3 Wire services such as Reuters and Bloomberg offer a survey of analysts expectations for high-profile USDA reports. These surveys hold interest because they help clarify what constitutes a shock or
More informationSanta Claus rally could help corn Be ready to sell brief rallies when they come By Bryce Knorr, senior grain market analyst
Santa Claus rally could help corn Be ready to sell brief rallies when they come By Bryce Knorr, senior grain market analyst Rallies are always possible in corn, even in down markets. Trouble is, they don
More informationCrops Marketing and Management Update
Crops Marketing and Management Update Department of Agricultural Economics Princeton REC Dr. Todd D. Davis Assistant Extension Professor -- Crop Economics Marketing & Management Vol. 2016 (3) March 9,
More informationHog:Corn Ratio What can we learn from the old school?
October 16, 2006 Ames, Iowa Econ. Info. 1944 Hog:Corn Ratio What can we learn from the old school? Economists have studied the hog to corn ratio for over 100 years. This ratio is simply the live hog price
More informationCocoa: The Sleeper Market of 2007
THE HIGHTOWER REPORT Futures Analysis and Forecasting 141 W. Jackson Boulevard Suite 2 Chicago, IL 664 312.786.445 / 8.662.9346 www.futures-research.com Special Report December 6, 6 Futures Analysis and
More informationHog Producers Near the End of Losses
Hog Producers Near the End of Losses January 2003 Chris Hurt Last year was another tough one for many hog producers unless they had contracts that kept the prices they received much above the average spot
More informationDAILY SOY COMPLEX COMMENTARY 12/20/17
Wednesday December 20, 2017 150 S. Wacker Dr., Suite 2350 Chicago, IL 60606 800-621-1414 or 312-277-0102 info@zaner.com www.zaner.com DAILY SOY COMPLEX COMMENTARY Soybean sales announcements the last three
More informationFeed Grain Outlook June 2, 2014 Volume 23, Number 33
June 2, Today s Newsletter Market Situation Crop Progress 1 Corn Use 2 Outside Markets 3 Marketing Strategies Corn Marketing Plan 5 Upcoming Reports/Events 6 Market Situation Crop Progress. This afternoon
More informationCORN: DECLINING WORLD GRAIN STOCKS OFFERS POTENTIAL FOR HIGHER PRICES
CORN: DECLINING WORLD GRAIN STOCKS OFFERS POTENTIAL FOR HIGHER PRICES OCTOBER 2000 Darrel Good Summary The 2000 U.S. corn crop is now estimated at 10.192 billion bushels, 755 million (8 percent) larger
More informationKSU Agriculture Today Radio Notes
KSU Agriculture Today Radio Notes Daniel O Brien, Extension Agricultural Economist, Kansas State University For Radio Program to be aired 10:00-10:15 a.m., Friday, November 17, 2017 I. Grain Futures Closes,
More informationDairy Outlook. June By Jim Dunn Professor of Agricultural Economics, Penn State University. Market Psychology
Dairy Outlook June 2015 By Jim Dunn Professor of Agricultural Economics, Penn State University Market Psychology Cheese prices have been rising this past month, rising 16 cents/lb. in a fairly steady climb.
More informationWorld Agricultural Outlook Board Interagency Commodity Estimates Committee Forecasts. Lockup Briefing July 11, 2014
World Agricultural Outlook Board Interagency Commodity Estimates Committee Forecasts Lockup Briefing World Wheat Production Country or Region estimate 2014/15 forecast June 11 Million Tons Percent Percent
More informationGrain Market Outlook for
Grain Market Outlook for 2017-2018 KSU Ag Econ 520 Fall 2017 Manhattan, Kansas DANIEL O BRIEN EXTENSION AGRICULTURAL ECONOMIST Topics to be discussed.. 1) Grain Market Analysis & Outlook Corn & Grain Sorghum
More information2017 Crop Market Outlook
2017 Crop Market Outlook Presented at the Row Crop Short Course Jackson County Agriculture Conference Center March 2, 2017 Adam N. Rabinowitz, PhD Assistant Professor and Extension Specialist Agricultural
More informationApril 9, Dear Subscriber:
April 9, 2014 Dear Subscriber: We will be adding material to this shell letter after the report is released on April 9, 2014 at 11:00 a.m CST. Be sure to click back on the link often for the latest information.
More informationExecutive summary. Butter prices at record levels
June 2017 Executive summary Butter prices at record levels South African milk production growth disappointed in the first five months of 2017. Total production during this period is marginally lower than
More informationVeal Price Forecast. October 2015
Veal Price Forecast October 2015 VEAL PRICE FORECAST OCTOBER 2015 Veal Light Production Veal prices in 2015 have been stronger than anticipated and are expected to continue to show year-over-year increases
More informationAmmonia costs spike sharply higher Nitrogen prices disrupt calm in fertilizer market By Bryce Knorr, grain market analyst
Ammonia costs spike sharply higher Nitrogen prices disrupt calm in fertilizer market By Bryce Knorr, grain market analyst Ammonia joined other forms of nitrogen in the parade of higher costs, with contracts
More informationIn its final estimates for the 2017 summer crop production season, the Crop Estimates Committee (CEC) lifted maize
29 September 2017 South African Agricultural Commodities Weekly Wrap This was a data-packed week for grain and oilseed markets with releases that include production estimates update, producer deliveries
More informationDairy Outlook. January By Jim Dunn Professor of Agricultural Economics, Penn State University. Market Psychology
Dairy Outlook January 2015 By Jim Dunn Professor of Agricultural Economics, Penn State University Market Psychology Dairy prices have fallen in the past month, especially butter prices. The dollar is still
More informationFRIEDBERG S F O C U S O N F U T U R E S. Wheat: crop problems galore. Inside
FRIEDBERG S F O C U S O N F U T U R E S Friedberg Mercantile Group Ltd. Volume 18, No. 10 November 19, 2015 Wheat: crop problems galore Northern Hemisphere winter wheat crops for the upcoming 2016-17 marketing
More informationAgriculture: farm income recovers
Agriculture: farm income recovers Farm earnings rose substantially last year, breaking a four-year slide. The index of prices received by farmers averaged a record 209 (1967=100). That was 14 percent over
More informationIFA Medium-Term Fertilizer Outlook
IFA Medium-Term Fertilizer Outlook 2015 2019 Olivier Rousseau IFA Secretariat Afcome 2015 Reims, France October 21 st - 23 rd 2015 Outlook for World Agriculture and Fertilizer Demand Economic and policy
More informationDecision enabling cash market analysis & price outlook. Report Summary Last closing USD (+16.00) per MT as on October 11, 2013
Decision enabling cash market analysis & price outlook For the week beginning Oct 15, 213 Argentina Soy Oil 1 Month Forward Fundamental Summary Report Summary Last closing USD 93. (+16.) per MT as on October
More informationIowa Farm Outlook. January 2017 Ames, Iowa Econ. Info Pork industry shaping itself for the future
Iowa Farm Outlook 0BDepartment of Economics January 2017 Ames, Iowa Econ. Info. 2081 Pork industry shaping itself for the future The talk of 2016 was heavy hog supplies relative to available processing
More informationECONOMIC BULLETIN Q2 2017
November 2017 ECONOMIC BULLETIN Q2 2017 Steady growth in production, sales and exports Food and drink industry Growth in production and sales In Q2 2017, EU food and drink industry production increased
More informationSouth African Milk Processors Organisation
South African Milk Processors Organisation The voluntary organisation of milk processors for the promotion of the development of the secondary dairy industry to the benefit of the dairy industry, the consumer
More informationAgriculture Commodity Markets & Trends
Agriculture Commodity Markets & Trends Agenda Short History of Agriculture Commodities US & World Supply and Demand Commodity Prices Continuous Charts What is Contango and Backwardation Barge, Truck and
More informationIowa Farm Outlook. February 2018 Ames, Iowa Econ. Info Betting on the Come in the Fed Cattle Market
Iowa Farm Outlook 0BDepartment of Economics February 2018 Ames, Iowa Econ. Info. 2094 Betting on the Come in the Fed Cattle Market Prices feedlot managers are bidding for feeder cattle suggest that feedlot
More informationSeventh Multi-year Expert Meeting on Commodities and Development April 2015 Geneva
Seventh Multi-year Expert Meeting on Commodities and Development 15-16 April 2015 Geneva Recent Developments in Global Commodity Markets By Georges Rapsomanikis Senior Economist in the Trade and Markets
More informationCommodity Market Outlook
Commodity Market Outlook Jim Hilker Professor and MSU Extension Economist Department of Agricultural, Food, and Resource Economics Michigan State University Market Outlook Reports For September 6, 2017
More information2008 Annual Report on Lead Market
2008 Annual Report on Lead Market With global lead ingot supply and demand balance converting the deficit in 2007 to a surplus in 2008, lead price retreated gradually in 2008 after rocketing greatly in
More informationThe weather models continue to paint an optimistic picture for the new season. The South African maize belt could
22 September 2017 South African Agricultural Commodities Weekly Wrap The weaker domestic currency, coupled with higher Chicago grains and oilseed prices led to widespread gains in the South African agricultural
More informationAnalysis & Comments. Livestock Marketing Information Center State Extension Services in Cooperation with USDA. National Hay Situation and Outlook
Analysis & Comments Livestock Marketing Information Center State Extension Services in Cooperation with USDA April 2, 2015 Letter #12 www.lmic.info National Hay Situation and Outlook The 2014 calendar
More informationWheat Year in Review (International): Low 2007/08 Stocks and Higher Prices Drive Outlook
United States Department of Agriculture WHS-2008-01 May 2008 A Report from the Economic Research Service Wheat Year in Review (International): Low 2007/08 Stocks and Higher Prices Drive Outlook www.ers.usda.gov
More informationCattle Market Situation and Outlook
Cattle Market Situation and Outlook Rebuilding the Cow Herd Series March 28, 2007 Falls City, TX Coordinated by: Dennis Hale-Karnes CEA Ag & Charlie Pfluger-Wilson CEA Ag Prepared and presented by: Larry
More informationEmerging Global Trade Patterns: USDA s Long-term Agricultural Projections
Emerging Global Trade Patterns: USDA s Long-term Agricultural Projections Midwest Agriculture s Ties to the Global Economy Federal Reserve Bank of Chicago November 28, 217 Chicago Jim Hansen, Ph.D. USDA,
More informationJohn Deere. Committed to Those Linked to the Land. Market Fundamentals. Deere & Company June/July 2014
John Deere Committed to Those Linked to the Land Market Fundamentals Deere & Company June/July 2014 Safe Harbor Statement & Disclosures This presentation includes forward-looking comments subject to important
More informationSoybean Supply and Demand Forecast
Soybean Supply and Demand Forecast U.S. soybean planted acreage is expected to increase 5.7 million acres over the forecast period. U.S. soybean yields are expected to increase 2.2 bushels per acre or
More informationDemand Pull Pressure (Again)
Near Term Potash Outlook Demand Pull Pressure (Again) Fertilizer Outlook and Technology Conference Savannah, GA November 17, 2010 Dr. Michael R. Rahm Vice President, Market and Strategic Analysis The Mosaic
More informationICF Propane Inventory Update and Winter 2014/15 Supply Assessment
ICF Propane Inventory Update and Winter 2014/15 Supply Assessment October 30, 2014 Michael Sloan Principal ICF International 703-218-2753 Michael.Sloan@icfi.com Andrew Duval Research Assistant ICF International
More informationOUTLOOK FOR US AGRICULTURE
Agricultural Outlook Forum 216 OUTLOOK FOR US AGRICULTURE Robert Johansson Chief Economist 25 February 216 Fig 2 Main themes for 216 1. The macroeconomy is weighing on trade, but there are reasons for
More informationCommodity Market Monthly
Commodity Market Monthly Research Department, Commodities Unit May 12, 216 www.imf.org/commodities commodities@imf.org Commodity prices surged 4.7 percent in April, with gains in all main indices, and
More informationDairy Outlook. April By Jim Dunn Professor of Agricultural Economics, Penn State University. Market Psychology
Dairy Outlook April 2017 By Jim Dunn Professor of Agricultural Economics, Penn State University Market Psychology The Class III price in March was $1.07 lower than in February, while the Class IV price
More informationFNB Agri-Weekly 17 March 2006
An Authorised Financial Services Provider FNB Agri-Weekly Web www.fnb.co.za e-mail:pmakube@fnb.co.za Beef market trends (Graph 1) International: Beef prices continued to drift lower due to improved volumes
More informationRising Food Prices in East Asia: Challenges and Policy Options
Rising Food Prices in East Asia: Challenges and Policy Options Luc Christiaensen,, World Bank, presentation at the Managing Vulnerability in East Asia workshop, Bangkok, June 25-26, 26, 2008 Outline Where
More informationTHE SOUTH AFRICAN GRAIN MARKETS QUARTERLY EARLY WARNING REPORT NO. 02 OF 2013
THE SOUTH AFRICAN GRAIN MARKETS QUARTERLY EARLY WARNING REPORT 1. SUMMARY NO. 02 OF 2013 The domestic closing stocks for maize in the current season are expected to decline by about 40.94% on the back
More informationWorld Sorghum Grain Producers
World Sorghum Grain Producers Million Metric Tons 18 16 14 12 12 10 8 6 7 7 6 6 4 4 4 3 2 2 2 2 0 14 MY 2014/15 MY 2015/16 MY 2016/17 Grain Sorghum Exporters Million Metric Tons 10 9 8 7 6 5 4 3 2 1 0
More informationTHE SOUTH AFRICAN GRAIN MARKETS QUARTERLY EARLY WARNING REPORT NO. 01 OF 2013
THE SOUTH AFRICAN GRAIN MARKETS QUARTERLY EARLY WARNING REPORT 1. SUMMARY NO. 01 OF 2013 The domestic closing stocks for maize in the current season are expected to contract by about 21.39% on the back
More informationIowa Farm Outlook. May 2015 Ames, Iowa Econ. Info Several Factors Supporting, Pressuring Fed Cattle Prices
Iowa Farm Outlook 0BDepartment of Economics May 2015 Ames, Iowa Econ. Info. 2061 Several Factors Supporting, Pressuring Fed Cattle Prices All market classes of beef cattle are at record high levels for
More information2009 Full Year Results. September, 2009
2009 Full Year Results September, 2009 Doug Rathbone Managing Director 2009 Full Year results A challenging year Glyphosate profit impact was substantial Credit related pressures in Brazil Non-glyphosate
More informationTOC INDEX. Basis Levels in Cattle Markets. Alberta Agriculture Market Specialists. Introduction. What is Basis? How to Calculate Basis
TOC INDEX Basis Levels in Cattle Markets Feeder Associations of Alberta Ltd. Alberta Agriculture Market Specialists Introduction Basis levels are an effective tool to use for monitoring feeder and fed
More informationIowa Farm Outlook. Big Supply, Strong Dollar Pressure Hog Prices. January 2016 Ames, Iowa Econ. Info. 2069
Iowa Farm Outlook 0BDepartment of Economics January 2016 Ames, Iowa Econ. Info. 2069 Big Supply, Strong Dollar Pressure Hog Prices After holding between $60 and $75 per cwt for much of the fall, nearby
More informationSoy Canada SOYBEAN PROCESSING WORKSHOP PRESENTATION NOVEMBER 16, 2017 BRANDON, MANITOBA
Soy Canada SOYBEAN PROCESSING WORKSHOP PRESENTATION NOVEMBER 16, 2017 BRANDON, MANITOBA Overview 1) Soy Canada & Mandate 2) Soybean Sector Update & Trends 3) Growth in Western Canada 4) Commodity Soybean
More informationIowa Farm Outlook. March 2014 Ames, Iowa Econ. Info Long-Term Projections for Beef Production and Trade
Iowa Farm Outlook 0BDepartment of Economics March 2014 Ames, Iowa Econ. Info. 2047 Long-Term Projections for Beef Production and Trade We often spend a lot of time focusing on the short-term market situation
More informationIowa Farm Outlook. December 2015 Ames, Iowa Econ. Info Replacement Quality Heifer Prices Supported by Latest Data
Iowa Farm Outlook 0BDepartment of Economics December 2015 Ames, Iowa Econ. Info. 2068 Replacement Quality Heifer Prices Supported by Latest Data Beef cow herd expansion started briskly in 2014 with a 2.1%
More informationGIEWS Country Brief Malaysia
Reference Date: 28-July-2017 FOOD SECURITY SNAPSHOT The 2017 rice production increased from last year s dry-weather affected output Cereal imports t forecast to increase in 2017/18 marketing year (July/June)
More informationPotash Outlook Presentation
Potash Outlook Presentation TFI Outlook Conference November 16, 2011 Yao Yao Manager, Market Research Source: from view PotashCorp.com menu, turn off if not needed Forward-Looking Statements This presentation
More informationUpdate on Cotton: Prices, Responsible Sourcing, and Resources for Your Business
Update on Cotton: Prices, Responsible Sourcing, and Resources for Your Business Hosted by United States Fashion Industry Association (USFIA) & Cotton Incorporated August 30, 2016 2:00 P.M. Eastern/11:00
More informationWho Will Own the Grain? Elevators Eye Improved Prospects
November Who Will Own the Grain? Elevators Eye Improved Prospects Key Points: n Opportunities from significant futures market carry, weak harvest basis, and low transportation rates point to improved margins
More informationField Pea and Lentil Marketing Strategies
EC-1295 Field Pea and Lentil Marketing Strategies George Flaskerud Professor and Extension Crops Economist Department of Agribusiness and Applied Economics The United States is a small but growing producer
More informationBeef Cattle Outlook Dr. Curt Lacy Extension Economist-Livestock
Beef Cattle Outlook Dr. Curt Lacy Extension Economist-Livestock Current Situation $ Per Cwt. 190 180 170 160 150 140 130 120 110 100 90 MED. & LRG. #1 & 2 STEER CALF PRICES 500-600 Pounds, Georgia, Weekly
More informationFood Price Outlook,
Provided By: Food Price Outlook, 2017-18 This page provides the following information for August 2017: Consumer Price Index (CPI) for Food (not seasonally adjusted) Producer Price Index (PPI) for Food
More informationWeather Effects on Expected Corn and Soybean Yields
United States Department of Agriculture A Report from the Economic Research Service www.ers.usda.gov FDS-13g-01 July 2013 Weather Effects on Expected Corn and Soybean Yields Paul C. Westcott, westcott@ers.usda.gov
More informationAMT BEEF & MUTTON MONTHLY REPORT JULY Compiled by Pieter Cornelius E mail: NEXT PUBLICATION 7 AUGUST 2017
Enquiries: Dr Johann van der Merwe Cell: 073 140 2698 Web: www.agrimark.co.za E mail: johnny@amtrends.co.za Compiled by Pieter Cornelius E mail: pieter@amtrends.co.za NEXT PUBLICATION 7 AUGUST AMT BEEF
More informationAgriculture in A changing world. Dr. Agnes M. Kalibata Minister of State in charge of Agriculture (Rwanda)
Agriculture in A changing world Dr. Agnes M. Kalibata Minister of State in charge of Agriculture (Rwanda) Characteristics of Agriculture in Africa Largest contributor to GDP (32%) Main source of income
More informationFighting Hunger Worldwide
Fighting Hunger Worldwide South Kordofan, Sudan Food Security Monitoring, December 2015 Executive Summary The food security situation deteriorated among sampled households from May 2014 to November 2015.
More informationIMPACT OF DROUGHT ON CROP PRODUCTION AND THE FOOD VALUE CHAIN
IMPACT OF DROUGHT ON CROP PRODUCTION AND THE FOOD VALUE CHAIN July 2016 BRANCH: POLICY, PLANNING AND MONITORING AND EVALUATION TABLE OF CONTENTS TOPIC Page 1. INTRODUCTION 1 2. MAIZE 1 3. WHEAT 7 4. OTHER
More informationIndia. India Grain Voluntary Update - October 2017
THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. GOVERNMENT POLICY Voluntary - Public Date: 10/3/2017 GAIN Report Number:
More informationAgriculture in China - Successes, Challenges, and Prospects. Prof. Zhihao Zheng College of Economics & Management China Agricultural University
Agriculture in China - Successes, Challenges, and Prospects Prof. Zhihao Zheng College of Economics & Management China Agricultural University I. Success 1. For the past three decades (1978-2010), China
More informationCattle Outlook. January, 2018
Cattle Outlook January, 2018 Cattle Outlook January 2018 In This Issue: Supply Fundamentals Demand Fundamentals Summary 2 Historical Price Reference Where are Cattle Prices Currently, And Where are they
More informationmarketreport FEBRUARY 2016
marketreport FEBRUARY 2016 Onion & Garlic Dehydrated Onion Market Summary 2016 US onion crop planting progressing well; El Nino having benefic impact on CA snowpack and precipitation; Chopped/ minced and
More informationShort Term Energy Outlook March 2011 March 8, 2011 Release
Short Term Energy Outlook March 2011 March 8, 2011 Release Highlights West Texas Intermediate (WTI) and other crude oil spot prices have risen about $15 per barrel since mid February partly in response
More informationMilk and Milk Products: Price and Trade Update
Milk and Milk Products: Price and Trade Update International dairy prices December 2017 1 The FAO Dairy Price Index d 204.2 points in November, up 11.2 points (5.8 percent) from January 2017. At this level,
More informationIAF Advisors Energy Market Outlook Kyle Cooper, (713) , October 31, 2014
IAF Advisors Energy Market Outlook Kyle Cooper, (713) 722 7171, Kyle.Cooper@IAFAdvisors.com October 31, 2014 Price Action: The December contract rose 17.5 cents (4.7%) to $3.873 on a 33.3 cent range. Price
More informationU.S. Packing Capacity Sufficient for Expanding Cattle Herd
September 7 U.S. Packing Capacity Sufficient for Expanding Cattle Herd Key Points: n The U.S. cattle industry will remain in expansion mode through the end of the decade. We project total beef production
More informationGlobalization: Implications for U.S. and Oklahoma Agriculture. Stillwater, Oklahoma November 9, 2012
Globalization: Implications for U.S. and Oklahoma Agriculture Stillwater, Oklahoma November 9, 2012 1 We Are Just One World Now Steve Jobs 2 From Today Forward will Be a profitable growth industry Be an
More informationCattle & Beef Outlook
Cattle & Beef Outlook Glynn Tonsor Dept. of Agricultural Economics, Kansas State University Overarching Beef Industry Economic Outlook Supplies Expansion continues, but has moderated Demand Mixed signals
More informationDEVELOP THE RIGHT PLAN FOR YOU.
DEVELOP THE RIGHT PLAN FOR YOU. The Agricultural Risk Consulting Group LLC Developing and Implementing Sound Risk Management Solutions (866) 574-2724 agriskconsulting.net What should you look for in a
More informationThe relation between commodity markets and resource markets. (and the impact of Russian embargo) Trevor Donnellan FAPRI-Ireland Teagasc
The relation between commodity markets and resource markets (and the impact of Russian embargo) Trevor Donnellan FAPRI-Ireland Teagasc Overview Boom in Prices Relationship in Price Across Sectors Decline
More informationHAY PRICES AND TRENDS IN WESTERN STATES
HAY PRICES AND TRENDS IN WESTERN STATES Seth Hoyt 1 ABSTRACT Alfalfa hay markets in Western States generally follow similar trends. NOT IN 20!! Markets in California, the leading alfalfa hay producing
More informationEnergy Market Outlook
Kyle Cooper, (713) 248-3009, Kyle.Cooper@iafadvisors.com Week Ending November 24, 2017 Please contact me to review a joint RBN Energy daily publication detailing natural gas fundamentals. Price Action:
More informationWhat tools can we use to help us decide when to enter and when to exit a hedge? (Or, or for that matter, when to enter and exit any trade.
Motivation for Fundamental and Technical Analysis What tools can we use to help us decide when to enter and when to exit a hedge? (Or, or for that matter, when to enter and exit any trade.) So, how do
More informationMarket Overview. Southwestern Fertilizer Conference. July 2017
Market Overview Southwestern Fertilizer Conference July 2017 Forward Looking Statements This presentation contains forward-looking statements" (within the meaning of the US Private Securities Litigation
More informationWheat Outlook. U.S. 2017/18 all-wheat area planted projected to be smallest on record. Figure 1: U.S. wheat planted area by class
Economic Research Service Situation and Outlook WHS-17d April 13, 2017 Wheat Chart Gallery will be updated on April 13, 2017. The next release is May 12, 2017. -------------- Approved by the World Agricultural
More informationEnergy Market Update. April 8, Kevin Krcil Chris Dubay
Energy Market Update April 8, 2014 Kevin Krcil Chris Dubay Winter 2013-14 Review and Brief Look at Summer 2014 Kevin Krcil, Head of Weather Trading Agenda Winter 2013-14 Review Outcome Polar Vortex Specific
More information2017 China Apple Crop Outlook. SDIC Zhonglu Fruit Juice Company Zhonglu America Corporation Michael Choi
2017 China Apple Crop Outlook SDIC Zhonglu Fruit Juice Company Zhonglu America Corporation Michael Choi 1 2016 Crop Review 2 2016 Crop Utilization 3 2017 Crop Forecast 4 Apple Export, Import, Apple Price
More informationMONTHLY MARKET PROFILE: 12/10/04 Nevil C. Speer, PhD, Western Kentucky University
MONTHLY MARKET PROFILE: 12/10/04 Nevil C. Speer, PhD, Western Kentucky University The market seems like a heavyweight match with packers and feeders standing toe-to-toe slugging it out. Negotiations are
More informationNickel & Molybdenum Overview: More Likely to See Leafs Win the Stanley Cup? See a Market Turn?
Nickel & Molybdenum Overview: More Likely to See Leafs Win the Stanley Cup? OR See a Market Turn? MRAG Annual Mining Analyst Forecast and Luncheon Mark Selby, CEO Royal Nickel Corporation December 4, 2015
More informationIowa Farm Outlook. Livestock Price and Profitability Outlook
Iowa Farm Outlook Department of Economics November, 2010 Ames, Iowa Econ. Info. 2007 Livestock Price and Profitability Outlook The holiday season is fast coming, marking the end of a year of variable livestock
More informationCovered Commodities. Pulse Crops
Covered Commodities Wheat, Oats, Barley, Corn, Grain Sorghum, Long Grain Rice, Medium Grain Rice, Pulse Crops, Soybeans, Other Oilseeds and Peanuts Other Oilseeds Sunflower seed, Rapeseed, Canola, Safflower,
More informationCattle Market Outlook
Cattle Market Outlook Winter C. Wilson Gray District Economist Twin Falls R & E Center wgray@uidaho.edu http://web.cals.uidaho.edu/idahoagbiz/ Thank You! Topics: Markets and Aspects of Domestic Consumer
More informationWhat future food security means to the developing and developed worlds. Reshaping the industry in turbulent times
What future food security means to the developing and developed worlds Reshaping the industry in turbulent times Nan-Dirk Mulder, 12 November 2014 Content 1. Long term global animal protein outlook 2.
More informationMonthly Regional Food Price Update - July & August 2017
e Monthly Regional Food Price Update - July & August 2017 h Highlights: Southern Africa Improved maize supplies drove national maize and maize meal prices further down in July in all the monitored countries
More information3/25/2017. What to do today? Cattle & Beef Markets: Commodity Outlook
3/25/27 Cattle & Beef Markets: Commodity Outlook Stephen R. Koontz Professor & extension economist Department of Agricultural & Resource Economics Colorado State University Stephen.Koontz@ColoState.Edu
More informationIndian Soybean meal- Demand /Supply. Pawan Kumar, Consultant, USSEC
Indian Soybean meal- Demand /Supply Pawan Kumar, Consultant, USSEC USSEC INTRODUCTION We Represent U S farmers U S Industry U S Department of Agriculture We work on finding new applications of soy & Implement
More informationMALAWI Food Security Outlook October 2015 to March The start of humanitarian assistance is uncertain and high food prices prevail
MALAWI Food Security Outlook October 2015 to March 2015 KEY MESSAGES The start of humanitarian assistance is uncertain and high food prices prevail Between January and March, an estimated 2.5 million people
More informationFood Prices and Global Food Security
Food Prices and Global Food Security Alan Matthews Director, Institute for International Integration Studies Professor of European Agricultural Policy Trinity College Dublin Presentation to Forfás Lunchtime
More informationPrice Monitoring for Food Security in the Kyrgyz Republic
Issue 17 March-April 2017 Price Monitoring for Food Security in the Kyrgyz Republic Monthly monitoring and outlook of basic food prices in the Kyrgyz Republic Highlights and outlook for the next few months
More informationYEMEN MONTHLY MARKET WATCH JUNE 2012
Highlights In May 2012, the country general inflation was 11.24% and food inflation stood at 10.53%, based on 12 months moving average. Between January and June 2012, the average wholesale price of 50
More information