It was a mixed day but mostly lower volume (except for soyoil) as the market appears generally comfortable with current values. Even Russia’s charge that Ukraine has attacked the Motherland did not cause a reaction. Thus far this week, corn is down 10 cents, soybeans down 4, and SRW off by 9 cents.
USDA’s Export Sales report reinforced the current lull in U.S. sales as Brazil dominates. Commitments were in the mid- to lower range of estimates. However, the trade is hoping to learn by tomorrow whether the 11-cent jump in March corn yesterday was the result of a rumored sale to China. The continued softening in corn values is making the U.S. more competitive with Brazil and should start to show in sales.
Weather remains a re...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
