As expected, commodity futures traded on generally lighter volumes and will continue that way until a new year of trading starts in January. Corn, wheat, and pigs were up, but the soybean complex, HRS and beef ended in the red. With one trading day yet to go before the extended holiday week begins, the trend is generally lower.
USDA’s Export Sales was about as expected, with soybean sales at a five-week high, but soymeal sales low. Mexico was the top buyer and this only reinforced concerns about two major rail lines between the two countries closed at the border. Add to that the major canal choke points and while likely temporary, the emphasis is negative.
Also weighing on the market is improved moisture in...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
