The market chased the overnight lower closes and accelerated them as the trading day wore on. Exceptions were soyoil and pork, with the latter seeing robust demand both foreign and domestic. There were the usual contenders for bearishness, including the weather, the strong dollar, and harvest in full swing. However, two new inputs for the day made the lower direction hard to resist. First out of the chute was USDA’s weekly Export Sales report. Except for pork, there were some unimpressive numbers. The U.S. is uncompetitive, which is enough to encourage fund selling.
Next up was CONAB’s release of its latest forecast for Brazilian crop planting and output. Unlike the last campaign, this one is starting with some favorable w...
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...
