Markets traded mostly in the red during the first half of the day’s and then corn, soybeans/meal and wheat turned right-side up. There are a lot of mixed signals. The bears still see it as sideways at best in the middle of harvesting. The bulls appreciate that the demand side is still crush and grind, whether it is soymeal exports, corn grind for ethanol, or China demand for wheat. All of this is open for interpretation, which is why it is still a sideways market overall. Yet the trendline of the past week’s closes is trending higher.
Farmers are holding their output in storage, which is holding basis levels higher during harvest, but that does not obfuscate what is available at the right price. USDA&rsquo...
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...
