The somewhat bullish influence of Monday’s stocks report has now fully faded. The market today pretty much ignored a solid USDA Export Sales report and instead focused on mostly bearish factors:
The EU is postponing enactment of its deforestation policy. Macro jitters around the Middle East and related rise in the dollar. Prospects for desperately needed rain in South America. Harvest pressure. The East and Gulf Coast ports strike.
And then there was the profit-taking. Trading volume was light in corn and the soy complex. And despite Monday’s stocks report coming in somewhat lower than expected, U.S. farmers are still sitting on huge stockpiles of grains and oilseeds. South American weather and final outp...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...