Markets are trying to take a breather from the super rally. We are also hearing another round of "bear" talk, most of which is garbage. Here are some of the bear stories:
China was canceling some corn and soybean purchases and taking the profits. Our view is that China is smarter than that. You don't sell what you can't replace if you are a user. We have rationed demand already. Our view is that we haven't started to ration demand to the necessary extent. This is especially true if you think crops are still getting smaller, not bigger. Weather shows better chances of rain in the extended models. This isn't necessarily true. Even if it were, it means it could rain on 1 August. How much good w...
Key Takeaways: President Trump announced $8 billion in additional agricultural assistance through the Harvest Fuel Relief Program, as USDA projects farm fuel and oil expenses will increase 28.8 percent in 2026. The package follows $12 billion in earlier relief, while government farm payments w...
Key Takeaways: A student group from the University of Chicago is protesting to bring back onion futures trading. Trading in onion futures was banned in 1958 following a spectacular bout of market manipulation that resulted in a corner of the physical market. The ban on onion futures led t...
Beef packer margins deteriorated to $141/head last week, down $55 from the prior week as fed cattle prices strengthened while the Choice cutout remained nearly unchanged. The cutout held near $373/cwt while fed cattle prices climbed $4/cwt to $224/cwt, narrowing processor profits. Despite the d...
