Corn, wheat, and soybeans traveled in the red for much of the morning trading before wheat turned higher and old crop corn and soybean contracts reversed losses. No doubt weighing on wheat is tensions with Russia, the crops top global supplier, while economic uncertainty keeps animal proteins sucking for air despite tightening cattle supplies. Nearby corn, wheat, and soybean contracts remain net up for the past five days of trading as a result of yesterday’s surge, but the overall trend is down.
Net wheat sales were higher than the recent past and at the top of market expectations. By contrast, last week’s washout in net corn sales achieved a record for being the lowest. Soybean sales were down relative to...
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...
