The bearishness continues as South America crops loom and Northern Hemisphere weather is stable. The impending flood of Argentine soymeal and soyoil onto the market sent the May soyoil contract to a new low.
There was nothing in today’s weekly USDA Export Sales report to alter the outlook. Wheat sales were down, as expected, and while down 2 percent year-on-year, they are above USDA’s trend forecast. New soybean and corn commitments were middling – though above the previous week. Per the above, buyers of meal and oil are expecting better pricing ahead.
Recent dampness in the Central and Southern Plains skipped the Southwest. Showers in the U.S. Northern Plains will be replaced by cold air. Canada&rsqu...
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...
