This morning USDA announced a 100 KMT soymeal sale to unknown and it highlights one of the few areas where U.S. market share in bulk commodities has been increasing, even if only slightly. U.S. soymeal exports have been rising (see graph below) and cumulative exports for the past 12 months are up 2.7 percent, year on year. This is somewhat surprising given Argentina’s historical use of the differential export tax, which incentivizes product exports like soymeal over soybean sales.
However, the reason for this growth has been flat to declining production of soybeans in Argentina. The U.S. and Brazil are growing more soybeans and exporting more meal as Argentina cedes market share. Argentina was expected to expand soybean production...
What You Need to Know Today: President Trump claimed the ceasefire between the U.S. and Iran was over, as both sides accused one another of violating the terms of the agreement. Commercial vessels are increasingly steering clear of the Strait of Hormuz as security risks escalate following Iran...
Key Takeaways: The CME Group is launching new 90 percent Lean Beef and 50 percent Lean Beef futures and options contracts in July. There are five key factors that must be present in physical markets and futures contract specifications for futures contracts to become successful. The two l...
Russian Grain Markets: 29 June-3 July 2026 The new marketing season has officially begun in Russia, although bearish sentiment has been concentrated in the southern regions closest to the Black Sea ports, where export demand has been weakest. Delays in grain deliveries to inland elevators have...
