Good morning, Trading ranges continue to dominate the market as we draw closer to the 8 November WASDE report, in which traders expect to see another cut to corn and bean crops. The Crop Progress reports continue to point to an ongoing problematic pace, with corn falling short of market expectations for the pace of harvest. Funds added to their net short corn position yesterday, selling another 10K so far this week while liquidating some bean length. November bean futures are weaker as funds liquidate or roll contracts forward. Heading into first notice day, there are 1,144 Nov bean receipts registered. REPORTS Crop progress: Corn: 41% harvested vs. expectations of 43-45%, which is the slowest pace since 2009, lagging the most in...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
From WPI Consulting
Accountability and a comprehensive approach to export programming
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