The surge in corn and soybean export demand is elevating shuttle freight values as well. However, this is not a positive development for some. Meanwhile, the hard red spring wheat harvest is rapidly picking up steam with some yields and test weights being reported.
USDA announced the sale of another 498,000 MT of soybeans to China this morning. This was the eighth consecutive day of soybean export sales announcements, which now total 1.7 MMT to China and another 1.1 MMT to unknown destinations. Yesterday’s USDA export sales report for the week ending 28 July indicated a total of almost 1.7 MMT of old and new crop soybean sales. The recent string of sales announcements will be reflected in next Thursday’s weekly sales report, which will a...
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...