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 exports less competitive. The 14-point Memorandum of Understanding between the U.S. and Iran prioritizes short-term de-escalation over a long-term strategic resolution. The key for the economy is that the Strait of Hormuz will be open to commerce, but other terms of the agreement appear favorable for Iran as negotiations over Iran’s nuclear capabilities were pushed into the future and sanctions will be removed. Old crop soybean export sales doubled f...
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...
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...
