Although the week was mixed, there was a convincing move lower on Friday. The mood spelled exit as all the major agricultural contracts closed lower. Even those trading the three major wheat contracts, who had mostly countered the bearish sensibilities elsewhere on the board in many of the previous sessions, decided to throw in the towel today. On the week, wheat made gains, but the rest of the lot printed losses. Despite a very bearish supply overhang, SRW has now closed higher for four straight weeks, and HRW and HRS have ended the past two weeks with gains. The March corn contract has broken below the 20-day moving average for three straight weeks.
However, the month of January has not been as cruel as the weather. As noted...
What You Need to Know Today: Iran says its definition of the Strait of Hormuz is now a “vast operation area” that stretches from Jask to Siri Island. The White House said President Trump did not sign a suspension of the TRQs on beef imports but is “finalizing potential...
If the media headlines and Trump critics are to be believed, President Trump is headed to Beijing this Thursday in a weakened position. China is in control, it has the upper hand, and expectations are very low. These are the same critics that argue against overly simplistic zero-sum analyses in...
