The CBOT was sharply lower for the day with wheat, corn, and soybeans all breaking major technical support points. Yesterday’s better-than-expected Crop Conditions report from USDA added pressure overnight, despite the two-week forecast for very hot temperatures and dry conditions for the Midwest. Funds were net sellers for the day with technicals weakening significantly and now coupled with a more bearish outlook from USDA. Also working against commodity markets was disappointing economic data from China that revived fears about an economic slowdown in the country. After two months of exceptionally strong feedlot placements, WPI’s models are showing a slowdown in placements for August. Heading into the August Cattle on Feed re...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
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Accountability and a comprehensive approach to export programming
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