The Market It was another week of falling oilseed prices. November soybeans dropped 1.6 percent, December soymeal lost 1.1 percent and December soyoil fell hardest, shaving off 6.3 percent. The market can be a paradox. Brazil is dominating the export market and yet the U.S. has tight supplies and an uncertain final yield for the current harvest. The steady but weaker futures market indicates a lean toward bearishness, but Michael Cordonnier of Soybean and Corn Advisor lowered his estimate of the average U.S. soybean yield by a half-bushel to 49 bushels/acre, a full 1.1 bushels below USDA. All eyes are on the October 12 WASDE report. This means the drift lower over the past several weeks faces upside risk.
USDA’s weekly Expor...
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...
