There were surprisingly only modest trading volumes in this last trading session before a three-day holiday. There was no rush to escape positions. The livestock complex and soyoil closed lower, but the rest of the top trading ag commodities made gains on the day, but only cattle, soybeans, and soymeal saw losses on the week.
All told, the trends look like this:
It was the fourth week in a row higher for HRS and HRW, and a sixth week higher for SRW. Corn has made gains in four of the past five weeks. Cattle have now traded lower for three weeks in a row, while hogs have made gains in each of those weeks. Soyoil and soymeal have been up and down since the start of the new year.
Deep cold will stress wheat and cattl...
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...
