Wheat had a modest reversal from yesterday’s jump higher on profit-taking, soybeans and feeder cattle continued adding value, while soyoil and pigs climbed back from yesterday’s losses. Volume in soyoil and the entire livestock complex was notably higher for a holiday week.
The strategy continues to involve selling rallies, at least until something informs otherwise. That something could involve demand, which is sorely missing this week, or something more disappointing about yields out of Brazil, which doesn’t currently seem likely. Monday’s Christmas holiday has delayed the weekly ethanol report from the Energy Department until tomorrow, and USDA’s weekly Exports Sales report will be out...
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...
