Futures traded bearishly mixed. The start of the trade war, the possible hiatus in the Ukraine war, static weather conditions, and major USDA reports to be issued on Monday all keep traders in a cautious position. Today’s USDA Export Sales report covering last week’s activity showed general declines except for soyoil. Old crop wheat export sales dwindled, and new crop sales have collapsed. New commitments for old crop corn and soybeans were down but at the upper end of market expectations. New crop soybeans had washouts as Brazil’s big crop becomes available. Exports of corn and soybeans were solid. Pork sales rebounded but beef slumped on high prices.
There may not be enough CCC funds to compensate farmers...
What You Need to Know Today: Wheat prices surged after Ukrainian strikes on Russian vessels and infrastructure disrupted grain shipments, halting traffic through the Sea of Azov, Kerch Strait, and Black Sea. The July WASDE report offered a modestly supportive outlook for corn, wheat, and soybe...
The trade deficit in goods and services came in at $77.6 billion in May, slightly smaller than the consensus estimate of $78.4 billion. After a few months of relative stability, the trade deficit widened in May. The increase in the deficit for the month was due to both a rise in imports, which...
Every June combines begin their annual sweep across the winter wheat fields of Texas, Oklahoma, and Kansas. At the same time, USDA releases its Acreage and Crop Progress reports, providing the first comprehensive look at the size and condition of the crop. Most years the reports simply confirm...
