What You Need to Know Today:
The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the spring crops. China’s COFCO bought “at least five” cargoes of U.S. soybeans on Monday for September-November shipment. This is below some speculation that the total volume could have been ten cargoes or 600 KMT. The Goldman roll starts tomorrow and will last five business days, meaning that August futures will see pressure while September and further deferred contracts will see support. Walmart and Sam's Club have made well-publicize...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
Mediterranean/Middle East/North Africa/Africa – MEA Region Bangladesh is reported to have finalized the purchase of 270,000 MT of wheat, including 220,000 MT of U.S. wheat. The U.S. wheat is priced at $322/MT, with an additional 50,000 MT of wheat at $297.90/MT through an international te...
