There was higher volume trading corn, soybeans, and soymeal, but resulting in just a half penny change in soybeans. There was low volume trading in February live cattle and that was just to square up positions in this soon to be expiring contract. All of the deferred contracts went the opposite way. If ski slopes can be called farming snow, today’s futures trading was simply post-WASDE drip. The more significant changes occurred yesterday but today showed some confirmation about direction.
Kicking off the session was USDA’s weekly Export Sales report. Sales made for MY 2022/23 were underwhelming except for MY 2022/23 corn. Current marketing year sales of wheat and soybeans were the lowest in several weeks. Buyers of some comm...
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...
