Key Takeaways:
Corn and soybean meal markets are tightening together for the first time in more than a year, driven by lower U.S. yield expectations and continued Chinese soybean demand. A strong El Niño is replacing last year’s La Niña, shifting crop risk across the Americas through a slower U.S. harvest, weaker Brazilian corn prospects, and a stronger Argentine soybean outlook. U.S. dairy margins are narrowing as global feed costs rise, with DMC payments expected from August through December 2026 and the program’s lagged feed-cost formula likely understating near-term pressure. The production-cost gap of more than $20/cwt between the smallest and largest U.S. dairy farms is likely to widen because larger operati...
Monday was Labor Day, the traditional end to the summer grilling season and high demand for cattle. Additionally, it marks the calendar end of summer heat and a transition into more moderate temperatures. As such, the next two months are the largest marketing periods of the year for feeder catt...
Key Takeaways: Dry bulk markets saw diverging trends this week as Capesize vessel rates surged on strong demand while Panamax and smaller vessel classes saw mostly steady/firmer trade. The situation in the Persian Gulf continues to deteriorate with hopes for an Iran-Oman managed system o...
Energy: Fewer Routes, More Pressure Brent crude is back above $100, while WTI has closed higher for seven consecutive sessions as multiple supply routes come under pressure and the market runs out of workarounds. U.S. forces destroyed five Iranian crude-oil carriers Tuesday after Iran attempted...
