As expected, commodity futures traded on generally lighter volumes and will continue that way until a new year of trading starts in January. Corn, wheat, and pigs were up, but the soybean complex, HRS and beef ended in the red. With one trading day yet to go before the extended holiday week begins, the trend is generally lower.
USDA’s Export Sales was about as expected, with soybean sales at a five-week high, but soymeal sales low. Mexico was the top buyer and this only reinforced concerns about two major rail lines between the two countries closed at the border. Add to that the major canal choke points and while likely temporary, the emphasis is negative.
Also weighing on the market is improved moisture in...
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...
Key Takeaways: Drought remains a major threat to global agricultural production, particularly in regions with limited rainfall and growing water scarcity. Commercially available drought-tolerant traits in corn, soybeans, and wheat have generally delivered modest yield improvements, limiting th...
