After reacting to a fire hose of developments earlier this week, ag futures had little new fundamental input today except a brief hiatus in the trade war. Volume was quite low in grains, though it was higher in cattle where gains were sharp this week. Both corn and soybeans recovered most of their early-week losses. On the week:
It was the third week in a row lower for corn, HRW, HRS, and lean hogs. After three weeks of trading lower, soymeal bounced back. After five weeks of trading lower, live cattle won the week overall for gains.
On Tuesday, USDA will issue its March WASDE report. The agency is nearing the end of its focus solely on MY 2024/25. Current U.S. harvest and yield numbers are final so there will only be adjustments t...
What You Need to Know Today: There is a global rotation out of tech stocks right now amid profit-taking and expectations of interest rate hikes later this year. The White House said Iran will use its upcoming unsanctioned oil revenue to buy U.S. agricultural products, a claim that Iran later s...
USDA will release its Quarterly Hogs and Pigs report on Thursday. Below are analysts’ estimates for the report. The biggest change since the 1 March report is the number of market hogs, which is expected to be up 1.1 percent from what was implied in March. The percent increase in hogs we...
Key Takeaways: Argentina is a major global agricultural exporter, but producer returns have historically been constrained by export taxes. Export taxes have been a long-standing policy tool since 1955, reintroduced in 2002 after Argentina’s financial crisis, and have since remained a key...
