Good weather boosting crops in Brazil, the U.S. and elsewhere, an extension of the Black Sea grain corridor, and a rising dollar all conspire to extend the downward momentum in most commodities. The exceptions today were soyoil and livestock. The latter saw a new contract high in feeder cattle. Thus far in this trading week, July corn is down the most, -5.2 percent, July soybeans are -4 percent with slightly larger breaks in coproducts, and the three wheat classes are off -2 percent to -3.6 percent, the latter being July SRW.
The Black Sea agreement is just a two-month extension and Russia can still throttle down Ukraine’s exports as it has with slowed inspections, but Moscow avoids blame from third countries usi...
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...
