The CBOT traded a quiet day at mid-week with corn and wheat pushing lower and bull spreading developing in soybeans and soymeal. The soy complex remains the hot market for now with soymeal holding just below recent contract highs and commercials still buying, as evidenced by the spread trade. Corn and wheat are finding selling pressure from funds, but U.S. farmers are not selling much corn right now, which is keeping basis strong and limiting futures weakness. Wheat futures should be facing some bullish pressure from 15-year lows in U.S. ending stocks and the Argentine drought, but slow exports and uncompetitive offers at the U.S. Gulf are keeping the market on a downward path. Funds were slight net sellers in corn and wheat for the day and...
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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