The CBOT was mixed with corn and soybeans higher on short-covering and fundamental support heading into Wednesday’s WASDE. End-users were net buyers in corn and funds covered some of their short position as well. Soybeans posted 4-6 cent gains as the market bounced from technical support and found comfort in USDA’s daily export sales announcements. Wheat was mostly lower amid a steady stream of news about the big and ever-growing Russian crop. The USDA reported three daily “flash” export sales announcements – all of which were for soybeans:
111,000 MT sold to “unknown” destinations for 2020/21,
324,000 MT sold to China for 2020/21,
264,000 MT sold to China for 2020/21...
What You Need to Know Today: China’s state-run COFCO, in statements on Tuesday, implied that U.S. corn exports were currently uneconomical but hinted that the Middle Kingdom would import 3.5 MMT of the feed grain this year, with 1 MMT likely sourced from the U.S. Another drone attack has...
Tanker-tracking data shows a smaller recovery in oil flowing through the Strait of Hormuz than previously thought. Energy Secretary Chris Wright, speaking by video to an international energy conference in Riyadh, Saudi Arabia, said that oil moving through the strait was back to 80 to 90 percent...
Key Takeaways: While soybean, palm, sunflower, and rapeseed oils dominate global vegetable oil markets, premium oils such as olive, avocado, coconut, and sesame command substantially higher prices due to their distinctive flavors, nutritional characteristics, and specialized culinary uses.. Ol...
