There was some reprieve today, but the cumulative toll of noncommercial selling has left its mark on the market. Speculators reduced their net long positions in corn and soybeans while increasing their short positions in wheat. For the week, September SRW was down $1.54, July soybeans deducted almost a dollar and July corn shed 38 cents.
Farmers are said to kill their crop (be pessimistic about it) at least three times a season, and now speculators could be overconfident about the current crop based on temperatures easing but there is still a lack of moisture in the outlook for when corn and soybeans will need it. Recent years have shown that modern genetics allow plants to survive suboptimal conditions, but yields can still...
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...
