Markets opened mostly negative following an overnight session that involved some red. However, there was a turnaround mid-session that saw much of the market rebound and end in the green. Ags were in sharp contrast with outside markets that mostly bled ahead of tomorrow’s jobs report. Week to date, December corn is up 20.75 cents, November soybeans are up 5.75 cents and December SRW has risen 36.75 cents. The question is whether this can last?
The problem is not fundamentals but external markets. Ten-year Treasuries have now spiked to the highest level since 2007 and the whole bond market is sucking the wind out of equities. There are now warnings that borrowing costs may rise to the point of causing a recession. Mortgage rates hit...
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...
