The uncertainty over yield and demand continues. The crop output side switches to bearish as improved rains are considered, but how much damage has there already been? Experience suggests not to underestimate crop genetics and the forgiveness they imbue for weather challenges. It has only been briefly a challenging growing season. Demand has generally been good, largely driven by China, it should continue good based on the Phase One commitments, but the siphoning sound is not guaranteed. There are three things to think about right now:
The trade is not going to gamble much ahead of the 11 September WASDE since that report will have a more concrete basis for its numbers.
The trade is not going to put itself into...
What You Need to Know Today: President Trump claimed the ceasefire between the U.S. and Iran was over, as both sides accused one another of violating the terms of the agreement. Commercial vessels are increasingly steering clear of the Strait of Hormuz as security risks escalate following Iran...
Key Takeaways: The CME Group is launching new 90 percent Lean Beef and 50 percent Lean Beef futures and options contracts in July. There are five key factors that must be present in physical markets and futures contract specifications for futures contracts to become successful. The two l...
Russian Grain Markets: 29 June-3 July 2026 The new marketing season has officially begun in Russia, although bearish sentiment has been concentrated in the southern regions closest to the Black Sea ports, where export demand has been weakest. Delays in grain deliveries to inland elevators have...
