Midwest commodity futures had a bearish but mild week relative to the volatility on Wall Street. Volume in general trended lower as the week progressed and while soymeal and lean hogs reversed last week’s gains, overall the downward slope has been shallowing out. This is especially true for December corn, which has taken nearly 30 trading sessions to lose a 25 cents, or less than 6 percent.
Perhaps there is some caution because USDA can sometimes spring surprises. Monday’s August WASDE report could be a market mover, assuming it doesn’t adjust corn and soybean acres plus yields in the ways that are expected. Big crops are expected and there is nothing in the weather forecast to deter that thought. Tropical...
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...
