GOOD MORNING, Prices are firmer this morning after the release of crop ratings and the first results of the Pro Farmer crop tour. Despite recent rain events and better weather developments, corn and bean ratings dropped, as the average corn yields from the Pro Farmer crop tour fall below USDA estimates. Funds were sellers yesterday of around 11,000 corn contracts, but seem to be buying them back this morning. REPORTS Crop Progress Report:
Corn: 56% good/excellent, down 1%. Dough stage: 55% vs. 83% yr ago and 76% average, 21% behind the average levels. Dented: 15% vs. 41% yr ago and 30% average. Silking: 95% vs. 100% yr ago. The only states that showed improvement were Colorad...
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...