Wheat was the ball and chain while corn was the balloon in today’s trading. The weekly USDA Export Sales report from USDA was notable for wheat with washouts in old crop sales leading to a marketing year low, but new crop sales going blockbuster as Guatemala, Mexico and Panama all sought coverage. There may some issue with recent Panama numbers. Corn was a bright spot with old crop sales higher and exports above the prior four-week average. Corn sales are up 25 percent over the prior year, but actual exports will be watched in upcoming weeks for any undermining by South America. From there it was downhill for the soy complex, beef and pork, the latter hitting its marketing year low.
While wheat traded lower, it continu...
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...
