The Market The soy complex is on something of a rebound this week. A weather premium is finally being added as the outlook is hot and dry for August when plants in the U.S. Midwest are trying to set pods. U.S. new crop soybean export sales were impressive last week, and the combination has sparked short selling given the record short position built up by speculators. It was also reflected in the above average volume. Thus far this week, November soybeans are 43.5 cents (4.1 percent) higher.
Brazil had record soymeal exports in June and total old and new crop U.S. sales hit 779 KMT last week. This has sparked a $21.70 (7 percent) rally this week in the December soymeal contract. The jump in soymeal prices was larger because specula...
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...
