There was red across the board today, except in red meat where there was green. Lots of variables this time of year but especially weather help to unhinge some of the speculative interest. The focus seemed to be more on rain hitting the U.S. production area and especially HRW, as opposed to a return to colder temperatures that might slow some planting. It has been two days of trading lower, and that sentiment may not be done for the week.
First up for setting the bearish mood was USDA’s Export Sales report for last week. MY 2022/23 corn export sales need to be cranking right now but they came in low and instead it was sales for MY 2023/24 that came in above expectations. Soybean sales continue dropping as Brazil owns the market and...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
