It has been a messy, volatile period. Spooked by drought, then reassured by showers, only to be spooked again by instability in Russia. Still there are reasons to be more bullish than the market has shown over the past several days.
Rains in the western Corn Belt are moving eastward and the central Corn Belt will get more rain this weekend. But not all areas are benefiting, and today’s Drought Monitor map shows the problem is much larger than the showers that are falling.
That is countered by today’s USDA Export Sales report for last week, which reflected continued low interest in sourcing relatively over-priced U.S. product.
There was generally modest trading volume today (except in live cattle) a...
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...
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
