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 spring crops. China’s COFCO bought “at least five” cargoes of U.S. soybeans on Monday for September-November shipment. This is below some speculation that the total volume could have been ten cargoes or 600 KMT. The Goldman roll starts tomorrow and will last five business days, meaning that August futures will see pressure while September and further deferred contracts will see support. Walmart and Sam's Club have made well-publicize...
What You Need to Know Today: Wheat futures pulled back sharply after Russian President Putin said there was a “chance” for peace and an agreement to end the war in Ukraine. There is plenty of skepticism about the opportunity for peace in Ukraine, but that didn’t stop wheat fr...
President Trump has opened the door to 100,000 MT of beef lean trimmings (limited to HTS codes 0201.30.5091, 0201.30.5097, 0202.30.5091, and 0202.30.5097) from countries listed under the “Other Countries” TRQ effective 1 September. These imports would not be subject to the over-quot...
Key Takeaways: CHS and OCP plan to invest up to $450 million in a Louisiana phosphate fertilizer facility capable of producing more than 1 MMT annually, marking the first new U.S. plant of its kind in more than 40 years. The facility could reduce U.S. dependence on imported finished phosphate...
