Markets trade on fundamentals and right now is the equivalent of being an ebb tide. It is a shift from angst over supply-reducing weather in South America to the bearish awe of watching its production come to market. What happens during the ebb tide is very low volume, the sole exception today being HRS. For the week thus far, corn and soybean values are down, and over the past five days one can add wheat entering the negative territory.
USDA’s weekly Export Sales report showed wheat sales rebounding from a week earlier, corn sales over the 1 MMT mark for a third week in a row, soybean sales seasonally weakening, soymeal continuing strong, and soyoil having an upside surprise. Livestock products also showed solid demand. ...
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...
