Thursday’s release of USDA’s weekly Drought Monitor report reinforced that new crops in the ground could begin to feel some stress. The report showed abnormally dry conditions throughout most of the U.S. production zone.
The early season dryness could really impact corn, which is why new crop futures spiked higher even as July corn lost value. The heat and dryness could get some relief from scattered storms and thunderstorms, but they are scattered.
USDA’s weekly Export Sales report is delayed until tomorrow due to this past Monday’s federal holiday. At the macro level, a new report shows China’s manufacturing sector may not be contracting after all. Financial markets continued to react posit...
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...
