With mostly average to lower trading volumes and narrow trading ranges, there is some speculative comfort ahead of USDA’s September WASDE arriving just two trading days ahead. These could be harvest-lows, assuming USDA sees crop yields like those now priced into the market. The book and movie about WWI and all quiet on the Western Front really meant there was angst around the uncertainty. In this holiday shortened-trading week, corn gained a fraction despite the trend of late being sideways lower, and soybeans shed a few cents despite it being characterized as trending higher. SRW wheat was a wash. The winner again was soymeal, which is dominating the export market and thus getting rewarded in the trading pits.
Actual...
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...
