Yesterday’s record corn yield estimate really sealed the fate of the corn market for at least several months. Some significant crop problems in Brazil or Argentina will be needed to create any bullish enthusiasm. U.S. ending supplies are significant at almost 2.5 billion bushels. It would seem likely that funds will extend their record short position in corn futures and also plausible that additional weakness in corn will encourage them to sell more wheat. The soybean numbers weren’t bullish. In fact, it could be argued that since most thought the soybean yield would be reduced slightly, the fact it was left unchanged is also bearish. What happens next? Following are some thoughts:
Corn farmers should sell the carry into next...
What You Need to Know Today: USDA reports are delayed until Tuesday due to the federal holiday on Monday. Over the weekend, President Trump announced a ceasefire between Russia and Ukraine. Russia warmly welcomed and confirmed this ceasefire by conducting more strikes against Ukraine. Specific...
On Saturday, 10 October, at a campaign rally in Clarksville, Tennessee, President Trump said that the U.S. and Mexico would come to terms on a new trade deal, and he said Canada does not need to be part of the deal. Trump called the coming agreement with Mexico “great” but gave no d...
Key Takeaways: The United States has steadily lost global wheat export market share since the 1970s, falling from the world's leading exporter to a projected fifth place in 2026/27. The rapid expansion of Black Sea wheat exports, driven by improved productivity and export infrastructure, has r...
