Poor spring planting conditions forced USDA to throw its usual cautiousness to the wind as the May WASDE affirmed a bull market. The market firmed ahead of the release as thoughts of buying a dip evaporated and instead wheat skyrocketed. Corn and soybeans remain down for the past five trading sessions but today’s action catapulted wheat into new contract highs.
USDA emphasized the uncertainty presented by Russia’s invasion of Ukraine and saber-rattling by Moscow will keep markets on edge. USDA cut its forecast for Ukraine’s wheat and corn exports though no one knows for sure how much can be produced and moved over rickety supply lines.
Wheat was up sharply with Minneapolis up the daily limit and new contract hi...
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...
