Soybeans had quite a trading range today, triggered by more bullish USDA stocks and acreage numbers than expected, and there was no stopping wheat in any of the three markets. General Comments There were quite a few things happening in today’s markets:
It was the last day of the month. USDA released its acreage update and quarterly stocks report. It was the last trading day before the weekend and the 4th of July holiday week in the U.S. Markets will be open from 8 PM (EDT) Sunday night until 1 PM (EDT)Monday. They will then be closed until 9:30 AM (EDT) Wednesday morning. That can be an eternity if the weather forecast stays hot and dry. Today’s weather forecasts looked hotter and drier for the entire western half of the U.S., and t...
What You Need to Know Today: China’s state-run COFCO, in statements on Tuesday, implied that U.S. corn exports were currently uneconomical but hinted that the Middle Kingdom would import 3.5 MMT of the feed grain this year, with 1 MMT likely sourced from the U.S. Another drone attack has...
Tanker-tracking data shows a smaller recovery in oil flowing through the Strait of Hormuz than previously thought. Energy Secretary Chris Wright, speaking by video to an international energy conference in Riyadh, Saudi Arabia, said that oil moving through the strait was back to 80 to 90 percent...
Key Takeaways: While soybean, palm, sunflower, and rapeseed oils dominate global vegetable oil markets, premium oils such as olive, avocado, coconut, and sesame command substantially higher prices due to their distinctive flavors, nutritional characteristics, and specialized culinary uses.. Ol...
