Volume was generally lighter (except for HRS) as a technically over-bought market took advantage of a correction for profit-taking. Right now it is all about trust in the weather forecast. Rains have been good in western Canada and the southern U.S. but they remain spotty for the American Corn Belt. Brazil is receiving favorable rains and a chance of frost is very low. There is an improving weather pattern in Europe with showers hitting some drier areas. However, the heat will persist across northern and western Europe with the Iberian hit hard by extreme temperatures. Analysts’ estimates for tomorrow’s USDA Export Sales report put expectations at more old crop corn washouts and good soymeal sales.
Outside markets received w...
The U.S.-Mexico-Canada Agreement (USMCA) enters its mandated six-year review on 1 July. The original intent of the review is outlined in Article 34.7, which obligates members to: Provide recommendations and decide on appropriate actions. Extend the USMCA for another 16 years and meet aga...
Key Market Insights Geopolitical Limbo: Geopolitical risk remained a key driver across global commodity markets today. President Trump stated that the Iran memorandum of understanding is not yet final and warned that military action could resume if negotiations fail. Both sides continue w...
