There was a lot of input coming at the market today, but the only significant movements came in corn and soyoil. First up was news that the Kakhovka dam and hydroelectric plant on the Dnipro River in southern Ukraine was destroyed. Early word was that farmland was flooded but the reaction was muted. It is a sad development for Ukraine, but the area impacted plays only a minor role in the country’s crop production. The flooding mostly impacts the Kherson Oblast, which is in the southeast corner of the nation. It contributes 6 percent of the wheat and barley area, 4 percent of sunflower production, and just 1 percent of corn output.
The global supply side appears to be more at risk from weather than war. Australia and Indonesi...
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...
