When previously discussing what it might take to push the funds out of their record (or near-record) short positions in corn, wheat and soybean futures (see Ag Perspectives, 8 January) in advance of USDA’s January reports, the following potential factors were cited as possible triggers to drive prices higher or perhaps even keep them steady:
Funds might cover short positions, assuming there was no more bearish news. End users would take a similar view and extend coverage under the assumption that further downside, at least in corn and wheat, was probably limited. Weather in Brazil and Argentina would support markets.
No one expected that any of the USDA numbers would be bullish, let alone bullish enough to trigger significant...
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: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
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...
