The story of the CBOT was the sharply lower opening soybeans and soymeal suffered overnight, thanks to heavy rains in Brazil over the weekend. Those early losses, however, were fully erased by midday and both markets posted sharp gains due to China’s import program and the long-term outlook for concerning weather in Brazil. Corn followed the soybean market to a few pennies’ gain but lacked much fundamental reason for a big rally. Wheat, of course, sold off and hit new two-year lows as the U.S. dollar remains strong and Ukraine and Russia dominate the world export market. Except for soybeans, trade was relatively muted for the day and that should be the trend for the rest of the week with the U.S. markets closed Thursday for the...
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...
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Accountability and a comprehensive approach to export programming
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