Last week’s unexpectedly big hard red winter wheat yield forecast from the wheat tours kept pressure on wheat again today. The big rally in the U.S. dollar was also a negative factor. The fact that corn and soybeans were also very weak added to the wheat problem. General Comments Markets were quiet in the Sunday evening session, but they turned lower at this morning’s opening and traded lower the rest of the session. The bearish news today was:
USDA’s May reports will be released tomorrow, and no one expects any bullish news. The acting leader of the lower house in Brazil’s government evidently figured out a way to annul the impeachment vote. That sent the real and Brazil’s stock market crashing lower. Crude oil was down more than $1...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
