Markets were stronger overnight, led by (of all things) wheat. There were several reasons for that strength last night and today, including the following:
Weather across the U.S. southern Plains remains warm to hot, dry and windy. Yields and the percentage of harvested acres are both going down. There are some weather concerns surfacing in the Black Sea region. It is dry across Brazil’s corn region. USDA announced the sale of 120,000 MT of soybeans to Argentina for MY 2018/19. Today’s crop progress report highlights the slow planting progress of spring wheat and corn as well as the poor conditions of the hard red winter wheat crop. There is some optimism that the U.S. team headed to China will make progress on the trade...
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...
