Markets were mixed overnight and today. Volume was very light for corn and soybeans but better than average for Chicago wheat. The markets actually traded better than expected after yesterday’s late break from strong early day trade. Funds were light sellers of corn and wheat while buyers of soybeans. There was some news overnight and today, including the following:
USDA announced export sales of 270,000 MT of corn and 154,000 MT of soybeans to “unknown.” The International Grains Council (IGC) reduced its world wheat production estimate by 16 MMT. Most of the cut was for the EU. French consultancy group ODA has dropped EU soft wheat production to 125 MMT, and that is significant. The U.S. second quarter gross d...
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...