The market opened much as the overnight closed but then things shifted for some contracts. Wheat was understandably down on chances for precipitation in some droughty areas but there was less apparent reasoning in other commodities. Despite closing lower today, corn and soybean values remain undergirded overall.
The trade expected export sales to be generally lower than last week, and they were for wheat and corn, though soybeans and soymeal posted higher numbers. Expectations remain high for more corn sales and a flash sale to China this morning reinforced that attitude. Again, wheat not so much as it gets easily beaten by Black Sea offers.
The one warning light on Black Sea wheat is Moscow saying t...
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...
