For a second day in a row, large capital flows moved to stem exposure to a seriously bad weather forecast. Showers will decorate the Southern Plains and southeast but the heart of the corn and soybean production area, and especially center and eastward are seeing none of the badly needed rainfall. There was higher volume today in corn, soymeal, SRW and HRS. Markets are over-bought but it takes nerves of steel to remain short under these conditions Instead, funds are loading up ahead of a three-day holiday weekend.
The rush for coverage even before the past two days’ rally saw wheat speculators trim their net short position by 4,308 contracts to 102,396 contracts; corn speculators trimmed their net short position by 47,039 con...
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...
