USDA’s August production and supply/demand estimates were (again) bearish for soybeans, neutral-to-bearish corn and slightly bullish wheat. Following are some of the report highlights/surprises:
The markets were expecting small U.S. corn and soybean yield increases. However, USDA raised corn to the high side of estimates and increased the soybean yield a whopping 3.1 bushels/acre from the July estimate. USDA raised corn export demand, and that partially offset the production increase. Nevertheless, corn ending supplies were pushed higher by 132 million bushels from the July estimate. That is not an overly bearish number. The soybean yield estimate was a real WOW and pushed U.S. ending supplies to almost 800 million bushels...
Markets are caught between reasons to keep selling and reasons to take another look. Fund liquidation and renewed peace talks are pressuring grains, while fresh export business and some diesel relief offer encouragement. Corn recovered nearly 10 cents from its low to finish higher, while soybea...
Key Takeaways: President Trump announced $8 billion in additional agricultural assistance through the Harvest Fuel Relief Program, as USDA projects farm fuel and oil expenses will increase 28.8 percent in 2026. The package follows $12 billion in earlier relief, while government farm payments w...
Key Takeaways: A student group from the University of Chicago is protesting to bring back onion futures trading. Trading in onion futures was banned in 1958 following a spectacular bout of market manipulation that resulted in a corner of the physical market. The ban on onion futures led t...
