There were several developments this week that were of interest to both the markets and producers.
Soybean export sales activity has been increasing rapidly. USDA has made daily sales announcements, mostly to China and unknown, in 14 of the last 17 business days. Outstanding export sales and accumulated shipments to that country now stand at 7.3 MMT just one week into the new marketing year versus 9.9 MMT at this time last year. USDA has already announced 980,000 MT of export sales that will be included in next Thursday’s weekly report. Those in the unknown category still lag last year by 4 MMT, but that gap should also start to narrow quickly. The initial crop revenue insurance price guarantee calculation period for the 2018 hard red w...
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...
