What You Need to Know Today:
Risk-on money flow was present in the markets Thursday with headlines in Iran and the Black Sea driving the move. Russia attacked more of Ukraine’s processing and export facilities, including a Bunge facility near the Black Sea. One of the facilities hit was in Ukraine’s top five in size with a 1,600-MT daily oilseed processing capacity. Trading action was more active than usual heading into the WASDE report with soybeans surging to new rally highs while wheat and, to a lesser extent, corn rebounded off key technical points. China and “unknown” destinations (most likely China) accounted for another 478 KMT of “flash” soybean export sales Thursday morning. The U.S. weather for...
Key Takeaways: The significance of $100-per-barrel crude depends largely on how long prices remain elevated, as sustained high energy costs are more likely to influence longer-term agricultural decisions. Higher crude oil prices raise farm production costs most directly through diesel, while a...
Monday was Labor Day, the traditional end to the summer grilling season and high demand for cattle. Additionally, it marks the calendar end of summer heat and a transition into more moderate temperatures. As such, the next two months are the largest marketing periods of the year for feeder catt...
Key Takeaways: Corn and soybean meal markets are tightening together for the first time in more than a year, driven by lower U.S. yield expectations and continued Chinese soybean demand. A strong El Niño is replacing last year’s La Niña, shifting crop risk across the Americ...
