The see-sawing this week over the war reflects the folly of buying the rumor. Hopes that Vladimir Putin will end the war ended after he said he would continue pursuing Ukrainian “traitors and western aligned scum.” Given his long history of misleading, no one should have been selling wheat like they did yesterday. The selling was so deep that the trading limit for SRW and HRW was moved up to $1.30 for today’s trading, but it wasn’t necessary. Wheat is back net higher for the past five days’ trading, while soybeans and corn are down slightly.
Volume was not very large today, indicating a possible consensus about true value, or complete cluelessness. USDA’s Export Sales report this mo...
What You Need to Know Today: Wheat prices surged after Ukrainian strikes on Russian vessels and infrastructure disrupted grain shipments, halting traffic through the Sea of Azov, Kerch Strait, and Black Sea. The July WASDE report offered a modestly supportive outlook for corn, wheat, and soybe...
The trade deficit in goods and services came in at $77.6 billion in May, slightly smaller than the consensus estimate of $78.4 billion. After a few months of relative stability, the trade deficit widened in May. The increase in the deficit for the month was due to both a rise in imports, which...
Every June combines begin their annual sweep across the winter wheat fields of Texas, Oklahoma, and Kansas. At the same time, USDA releases its Acreage and Crop Progress reports, providing the first comprehensive look at the size and condition of the crop. Most years the reports simply confirm...
