The weak jobs report sent most economic indices lower, except for gold. The dollar slumped lower despite the increased likelihood of interest rate cuts. Corn, soybeans and some wheat contract teased higher at the start of the session but they couldn’t hold. There was yet another new contract low for HRS. Outside markets put the bears in charge. It was a tough week all around for bulls, unless they are into pigs. Corn was the least damaged in the grains.
After 10 straight higher weekly closes, Live Cattle went down this week. It was the seventh week in a row lower for HRW. The third week higher for hogs. The third week lower for soymeal. The second week in a row closing lower for soybeans and soyoil.
Reports...
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...
