There was notably higher volume trading soybeans, soyoil, HRW, and beef today. Each driven by different factors; all appeared to be driven more by fundamentals than stochastic parrots. Export sales were generally lower than the prior week, except for soyoil, but were higher than the prior four-week average, except for soyoil. Soyoil is more distorted than other commodities due to the domestic demand for renewable diesel. That distortion may have come into play in today’s trading.
The annual meeting of the International Grains Council this week in New Orleans included revised estimates for 2023/24 grain production and trade. Although global corn and soybean carryover will increase, overall total grain ending stocks...
The U.S.-Mexico-Canada Agreement (USMCA) enters its mandated six-year review on 1 July. The original intent of the review is outlined in Article 34.7, which obligates members to: Provide recommendations and decide on appropriate actions. Extend the USMCA for another 16 years and meet aga...
Key Market Insights Geopolitical Limbo: Geopolitical risk remained a key driver across global commodity markets today. President Trump stated that the Iran memorandum of understanding is not yet final and warned that military action could resume if negotiations fail. Both sides continue w...
Key Takeaways: Drought remains a major threat to global agricultural production, particularly in regions with limited rainfall and growing water scarcity. Commercially available drought-tolerant traits in corn, soybeans, and wheat have generally delivered modest yield improvements, limiting th...
