What You Need to Know Today:
Excitement over China’s agreement to purchase $17 billion of U.S. ag commodities subsided, as traders are cautious amid the yet-unspecified allocation of those purchases. Monday’s Crop Progress report did not significantly change the narrative for corn and soybeans, with progress running normally. The Crop Progress report did, however, show further significant declines in winter wheat ratings, with the poor/very poor rating hitting the highest mid-May level since 2014. Crop futures were mostly sideways Tuesday as traders consolidated positions and waited for further details about China’s buying plans. Cattle markets turned higher amid strong physical demand and renewed hopes for improved consu...
As WPI reported, Presidents Trump and Xi held a bilateral summit last week (World Perspectives), the first since 2017, with some uncertainty over the outcome, though Trump commented on some “fantastic” trade deals. Over the weekend, more information was released on those agreements,...
Mediterranean/Middle East/North Africa/Africa – MEA Region Iran is said to import about 20 million MT of grains and oilseeds annually through Persian Gulf ports, plus about 5.0 million MT on the Caspian Sea. Maize, soybeans, soymeal, and vegetable oil are all highly dependent on imports &...
