The Market The trading week started a little down in the dumps, but the finish ensured gains across the soybean complex. There was a lot of support:
Argentine drought; Brazilian dampness; Indonesian pullback; Russian and Chinese missteps; and Robust American crush.
Domestic crush margins hit $3.33 bushel, among the most profitable on record. That cannot last since the industry plans to add 34 percent more capacity, but they are scoring the returns to afford the buildout. In fact, there is already slippage based on a nearly 4 percent discount on May meal over March. A key will be petroleum prices, which some believe will drift back up to re-test $90-$100/barrel when the summer driving season returns. ...
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...
