GOOD MORNING, Prices were mixed to lower this morning, with the board continuing to follow the path of crude. As prices neared the close, crude jumped to new highs taking Ag prices along for the ride, as the correlation between macros and ags continues. If energies continue to rally, would expect to see more short-covering from the start of the day. It has been a week of net fund selling across the board, and tonight we get the latest commitment-of-trader's report. Funds are an estimated net short 175K corn, futures / options combined. That position can give the market a boost on any day that delivers a bullish surprise, as was shown by crude's rally impact on those energy-related markets. Ethanol, corn, and...
Key Takeaways: Dry bulk markets remain mixed with Capesize vessels seeing continued pressure from weaker demand while fixtures and rate strength gradually increases towards the smaller vessel classes. Tanker markets are pulling back from their recent highs as tonnage moves out of the Mid...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
Key Takeaways: Texas illustrates the assumptions underlying the 2025 FMMO reform; Idaho exposes their limitations. The Southwest order blend (roughly 27 percent Class I, 32 percent Class III and 31 percent Class IV) exposes Texas producers to every lever USDA adjusted, with a near-neutral proj...
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