An overly cautious market let go of the tease that Russia might negotiate the exit of Ukrainian grain. Vladimir Putin cannot abide the UN’s wishes because it would betray his contention that it is Western sanctions that are causing the food security problem. There was also some positioning ahead of the long three-day weekend. Soybeans were the leader today and remain ahead on the week even as wheat and corn retrench.
U.S. farmers have picked up the planting pace, but there are still plenty of problems, most notably weather. There are drips of improvement, but overall weather is suboptimal in too many major exporter regions. Crops in southern Brazil are getting helpful rains but central Brazil remains parched as harvest...
Russian Grain Markets: 29 June-3 July 2026 The new marketing season has officially begun in Russia, although bearish sentiment has been concentrated in the southern regions closest to the Black Sea ports, where export demand has been weakest. Delays in grain deliveries to inland elevators have...
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...
