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: 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...
