Traders say they do not like surprises but they seem to be setting up for one tomorrow. There is a lot of room for disappointment when USDA releases its April WASDE report. For 80 percent of the datapoints surveyed by Reuters, the trade expects USDA to give them more bullish numbers (see table below). The lesson from last week’s USDA Planting Intentions report and many of the past several WASDE’s should be to expect the unexpected, or by now to expect the opposite.
Regardless of what USDA reports, the fundamentals are bullish. Weather is imperfect, demand is strong, and global commodity values are rising. Values are such that South Africa is getting into soybean production, reportedly boosting output by 40 percent this...
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...
