General Comments Markets were again firm in the overnight trade and rallied higher early this morning led by double-digit gains in soybeans. We are in a weather market, and most of Argentina continues to look dry and warm in the extended forecasts. Informa released its monthly forecasts this morning and put some pressure on the markets. That almost always seems to be the case. Informa increased Brazil's corn and soybean production estimates and reduced the corn and soybean production estimates in Argentina. Corn, wheat and soybean futures all approached some technical resistance levels and turned weak when they could not penetrate above those levels.There was some enthusiasm in the U.S. financial markets despite mixed economic news. The...
What You Need to Know Today: U.S. weather is getting more attention this week as conditions vary greatly across the western, central, and eastern corn belts, with the different regions battling dryness and too much rain simultaneously. The ProFarmer Crop Tour began today in Indiana and Nebrask...
Key Takeaways: Argentina is on pace for a record corn crop and record exports in the current marketing year, with abundant supplies likely to keep the country highly competitive in global export markets. Argentina’s record exportable surplus is allowing it to offer highly competitive pri...
From WPI Consulting
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