Rebalancing from last Friday’s USDA Acreage report appears to now be complete as corn and soybeans traded places and wheat flounders sideways. On the bearish side, U.S. prices continue to sit on the global high side, stifling the export trade. Still bullish is suboptimal moisture levels in key production areas. Overall, the situation should now shift to something less volatile.
That is assuming the improved trend in weather holds up. Today’s Drought Monitor report showed the improved moisture conditions in Illinois and Indiana, but worsening soil moisture deficits in Missouri, Minnesota, and Wisconsin.
There is a series of ridges bringing cooler air down from Canada and stimulating rainfall that mostly benefits south...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
