World Perspectives

All That Glitters Is Not Gold; All Hope is Lost; If You See Something, Say Something

All that Glitters Is Not Gold Chief U.S. Agriculture Negotiator Doug McKalip spoke at the Minnesota Farmfest this week and said “a lot of effort” will be put into opening India’s market for U.S. agricultural products. Good, because it will take a lot of effort, and more. He and the Biden Administration are correct that the Indian market is appealing, but in the same way that pyrite (fool’s gold) is to a novice. It is the world’s fifth largest economy headed to be number three by 2030.  India has compelling demographics, over 100 million are college educated and there is a proven record of manufacturing prowess. At the same time, 60 percent of the population works in agriculture and many of them are poor...

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Jul 25 Corn closed at $4.175/bushel, up $0.08 from yesterday's close.  Sep 25 Wheat closed at $5.4075/bushel, up $0.04 from yesterday's close.  Nov 25 Soybeans closed at $10.2475/bushel, up $0.0825 from yesterday's close.  Jul 25 Soymeal closed at $271.1/short ton, up $0.2 from y...

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Market Commentary: Trade Deals, Emerging Dryness Spark CBOT Short Covering

Traders seemed content to take short risk off the table heading into the weekend with USDA’s June Acreage and Grain Stocks reports due out Monday. Funds in particular are comfortable with positions ahead of these reports and saw little reason to push markets further into oversold territor...

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Jul 25 Corn closed at $4.175/bushel, up $0.08 from yesterday's close.  Sep 25 Wheat closed at $5.4075/bushel, up $0.04 from yesterday's close.  Nov 25 Soybeans closed at $10.2475/bushel, up $0.0825 from yesterday's close.  Jul 25 Soymeal closed at $271.1/short ton, up $0.2 from y...

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Market Commentary: Trade Deals, Emerging Dryness Spark CBOT Short Covering

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