Wheat Despite drought in Argentina that came during the early phases of the wheat crop, rains appeared during the critical yield-defining periods and boosted yield potential. Consequently, the Buenos Aires Grain Exchange increased its crop estimate from 19.2 to 19.8 MMT for MY 2021/22.
Almost all of Argentina’s agricultural area experienced high temperatures (close to 40°C) in the past few days. The combination of dry soil and high temperatures might have caused the wheat crop to stop filling grain early, which may lower yields. Currently, crop and soil moisture conditions vary between plots and each farmer is analyzing whether yields will be affected. WPI does not expect significant yield reductions but that can only be confi...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Key Market Insights Macro markets delivered a full whipsaw today. Early in the session, crude oil had rallied back above $100/barrel as traders priced renewed concern over the U.S.-Iran standoff and potential supply risk through the Strait of Hormuz. That strength helped pull grains off their o...
