GOOD MORNING, Prices are lower on net fund short positions, non-threatening weather, and improved crop progress report. Funds seem to be building a new net short in corn as prices trend lower. September contract liquidation is offering up more resistance as we head into first notice day on Friday. Crop progress conditions improved more than expected and were bearish:
Corn: 57 percent good/excellent, up 1 percent from week ago and vs. 68 percent year ago. The most improved award went to the state of Illinois, with ratings improving 7 percent from 49 percent good/excellent. Dented: 27 percent, 32 percent behind last year and 19 percent behind average. Dough stage: 71 percent and...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
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...
