On low to average volume, the trading range has tightened. While corn and wheat have been ascendant, today it was corn and soybeans settling higher and wheat was down.
Continuing to hang over the market, and especially animal proteins, has been bank failures and Fed tightening. Wall Street got a boost of confidence today on a bailout orchestrated by the largest U.S. banks. Proving that they are all in this together, they deposited $30 billion into the shaky mid-major First Republic Bank. A bank that should never have gotten into trouble considering its portfolio is low-risk, high net-worth investors. The Dow was up over a percent, the S&P gained 1.76 percent and Nasdaq gained 2.48 percent. Though all the indices remain down on...
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...
