The market chased the overnight lower closes and accelerated them as the trading day wore on. Exceptions were soyoil and pork, with the latter seeing robust demand both foreign and domestic. There were the usual contenders for bearishness, including the weather, the strong dollar, and harvest in full swing. However, two new inputs for the day made the lower direction hard to resist. First out of the chute was USDA’s weekly Export Sales report. Except for pork, there were some unimpressive numbers. The U.S. is uncompetitive, which is enough to encourage fund selling.
Next up was CONAB’s release of its latest forecast for Brazilian crop planting and output. Unlike the last campaign, this one is starting with some favorable w...
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...
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...
