The trade expected the soybean yield to be raised, but USDA spooked the market by boosting it almost a full 2 bushels/acre, but there was a different surprise of the day for soybeans. General Comments Markets were quietly lower overnight with soybeans leading prices down. Weakness in the soy complex reflected anticipation of a yield increase in today’s USDA reports that were to be released at noon (EDT). Markets turned mixed to higher after this morning’s openings. There were no export sales announced by USDA today.The USDA report was neutral corn and wheat but considered bearish soybeans because the yield increase was larger than expected. December corn finished the day down 1.5 cents, November soybeans finished 16 cents lower, and Chica...
WPI Grain Prices and Freight Rate App Note: you can also visit the app directly by clicking here. Supplemental Information The section below offers a concise view of the options available in the current version of the WPI FOB Price and Freight Rate app, along with a short “...
What You Need to Know Today: The U.S. conducted “self-defense strikes” in Iran and said the two sides are “close” to negotiating a ceasefire. “Close” is a relative term, however, and even if 95 percent of the terms are agreed to, the remaining 5 percent is l...
As we reported on 19 May, China has also committed to the resumption of U.S. poultry imports from states without confirmed HPAI detections. USDA’s Animal and Plant Health Inspection Service (APHIS) has updated its China export restrictions webpage to reflect that China has lifted HPAI-rel...
Key Takeaways: Brazil has been the second-largest producer of fuel ethanol globally, but almost all of it was derived from sugarcane until recently. Corn ethanol production has increased due to expanded second-crop corn production, sugarcane storage limitations, and biofuel policy. Brazil is e...
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