Since 2012, ClipperData has been tracking movement in the energy market and recently added ag commodity tracking to its repertoire. The company uses port agents and satellites to track trade flows around the world.
“For the last year we’ve been building up our agricultural commodity database,” Ken Smithmier said to AgriTalk host Chip Flory. “We’re close to launching this database within our own system. In addition, we will have what are called daily voyage reports: a corn, soybean and wheat report that will go to clients’ inbox first thing every morning.”
The report will detail information about what products are leaving the U.S. in real-time and will sometimes include information about where those products are going. ClipperData will roll out a weekly oilseed report with comprehensive analysis of rapeseed, soybeans, wheat and corn as well.
This report could have additional importance in light of trade negotiations.
“More importantly, long term it’s important to understand that even if the trade deal gets done the U.S. has competition,” Smithmier said. “We are all fully aware of that in the wheat market. It’s becoming very clear that global competition and corn is increasing and possibly soybeans down the road.
“When you look past the trade war and the agreement, once that gets settled, the important thing for the farmers to understand is that those other countries around the world aren’t going to just stop selling corn or beans or stop being aggressive.”
Watching these trade patterns could help give farmers clues about what’s going on with imports and exports around the world.
“We get a very transparent view of the load out and off take patterns around the world for agricultural markets,” he said.