Agri Commodities Preview: Lower Planting Intentions To Support Global Grains This Year

World Bank noted in a latest update that global grains and oils and meal prices are expected to rise in 2018, mostly due to lower planting intentions. The mild La Nin++a cycle that extended into the early part of the year only affected banana production in Central America and soybean production in Argentina and did not impact global markets for those crops substantially. The possible introduction by China of countervailing duties in response to US tariff increases could impact the soybean market.