There was some reprieve today, but the cumulative toll of noncommercial selling has left its mark on the market. Speculators reduced their net long positions in corn and soybeans while increasing their short positions in wheat. For the week, September SRW was down $1.54, July soybeans deducted almost a dollar and July corn shed 38 cents.
Farmers are said to kill their crop (be pessimistic about it) at least three times a season, and now speculators could be overconfident about the current crop based on temperatures easing but there is still a lack of moisture in the outlook for when corn and soybeans will need it. Recent years have shown that modern genetics allow plants to survive suboptimal conditions, but yields can still...
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...
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...
