GOOD MORNING, Happy Veteran's Day, and thank you for your service. The November report, typically a quiet data set, offered up a few surprises that not only validated fund long positions but sent prices higher for everything but wheat. Given tighter balance sheets, SA weather and demand are critical to price. Funds were big buyers yesterday of around 30K corn contracts and 30K beans. Beans:
No increase in the export forecast Ending stocks lowered to 190 million bushels A very tight stocks-to-use ratio of 4.2%, which supports prices Argentine production down 2.5 mmt
Corn:
Disappearance raised by 250 million bushels Exports raised 325 mln bu to 2.650 bln bu Chinese corn imports raised...
What You Need to Know Today: USDA reports are delayed until Tuesday due to the federal holiday on Monday. Over the weekend, President Trump announced a ceasefire between Russia and Ukraine. Russia warmly welcomed and confirmed this ceasefire by conducting more strikes against Ukraine. Specific...
On Saturday, 10 October, at a campaign rally in Clarksville, Tennessee, President Trump said that the U.S. and Mexico would come to terms on a new trade deal, and he said Canada does not need to be part of the deal. Trump called the coming agreement with Mexico “great” but gave no d...
Key Takeaways: The United States has steadily lost global wheat export market share since the 1970s, falling from the world's leading exporter to a projected fifth place in 2026/27. The rapid expansion of Black Sea wheat exports, driven by improved productivity and export infrastructure, has r...
