World Perspectives

Omnibus Spending Bill Passed – Ag Spending Up 7.4 Percent

Yesterday, the Senate passed an omnibus funding bill to keep the government open through the end of the fiscal year. It cleared the Senate 68-31 and on Wednesday passed the House 361-69. Without it, the continuing resolution in place would have expired today. The bill provides $14 billion in aid for the Ukraine and $1.5 trillion for U.S. government operations. For agriculture, there is a total of $25.125 billion in discretionary funding. Appropriated/discretionary funding is essentially the operation fund for the government, as opposed to authorize/mandatory funding which is the program spending, such as crop support payments, conservation cost sharing and the like. Until this year, since 2011, discretionary spending was limited by the cap...

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Market Commentary: Risk is Priced In — But Not Yet Believed

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Livestock Industry Margins

Beef packer margins reversed sharply to -$17/head from $120/head the prior week, as rising fed cattle prices more than offset a modest decline in the Choice cutout. Fed cattle prices increased $12.92/cwt from the prior week while the cutout slipped $3.24/cwt, compressing gross margins and pushi...

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May 26 Corn closed at $4.49/bushel, down $0.05 from yesterday's close.  May 26 Wheat closed at $5.98/bushel, up $0.0275 from yesterday's close.  May 26 Soybeans closed at $11.5825/bushel, down $0.085 from yesterday's close.  May 26 Soymeal closed at $311.8/short ton, down $4.8 fr...

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Key Market Developments Macro/Geopolitics:  Markets are staring down a deadline tonight as President Donald Trump pushes Iran to reopen the Strait of Hormuz by 8:00 PM Eastern. So far, Iran has rejected the U.S.-backed ceasefire proposal — reportedly delivered through Pakistan &mdash...

livestock

Livestock Industry Margins

Beef packer margins reversed sharply to -$17/head from $120/head the prior week, as rising fed cattle prices more than offset a modest decline in the Choice cutout. Fed cattle prices increased $12.92/cwt from the prior week while the cutout slipped $3.24/cwt, compressing gross margins and pushi...

feed-grains soy-oilseeds wheat

Market Commentary: The Long-Run Draws Near

The CBOT markets were surprisingly insulated from a jump in crude oil that started the week. Crude oil futures rallied to $115/brl - their highest levels since the earliest days of the U.S.-Iran war - on rhetoric from the White House that signaled an escalation in the conflict. While the oil he...

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Accountability and a comprehensive approach to export programming

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