The closure of the Chinese consulate in Houston, Texas over IP theft issues (along with suspected document destruction overnight at the facility) pressured soybeans in early trade. Corn benefited from unwinding of prior long soybeans/short corn spreads and additional export sales announcements supported soybeans on breaks. Wheat futures firmed and traded higher for nearly the entire day, erasing all of Monday’s losses. The USDA announced three separate large sales of soybeans in this morning’s newswire:
453,000 MT sold to China, with 66,000 MT for 2019/20 and the balance for 2020/21,
262,000 MT sold to China for 2020/21, and
211,300 MT sold to “unknown” destinations for 2020/21. ...
What You Need to Know Today: Corn and soybean futures were lower to open the week, with funds still in control and in a selling mood. The upcoming WASDE report on Tuesday is also likely to feature larger corn and soybean stocks, which helped put grain futures on the defensive. Wheat futures we...
Key Takeaways: Currency exchange rates influence agricultural export competitiveness and producer profitability, even when underlying commodity prices remain unchanged. A weaker domestic currency allows agricultural exporters to receive more local currency for dollar-denominated sales, potenti...
Although inflation has remained elevated since the post-COVID surge, it steadily moderated until the past year. More to the point, today’s inflation looks very different from 2022, when the Consumer Price Index (CPI) peaked at 9 percent. During and after the pandemic, the M2 money supply...
Soybeans Brazil Last week was once again very quiet, with very few trades. There is little activity in Brazil's old-crop market, with virtually no old-crop offers remaining for November. Brazil's export lineup for November and December is currently much smaller than last year's. After exporting...
