When you see a bear, start backward charging, and that is what corn, beans, and wheat did today. The Board was under pressure ahead of the release of USDA’S April WASDE report and while few changes were expected in the report, and few were made, the ones announced reinforced the bearish trend in place.
The WASDE was bearish U.S. carryover stocks. The market expected USDA to lower corn ending stocks based on higher ethanol grind and exports. It shaved off 50 million bushels, but the market was looking for a larger 70 MBU cut. A similar situation unfolded for soybeans with the market seeing a small 2 MBU increase but USDA adding a much larger 25 MBU. And finally, there is wheat, with pundits calling for somewhere around a 12-18...
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...
Key Takeaways: Drought remains a major threat to global agricultural production, particularly in regions with limited rainfall and growing water scarcity. Commercially available drought-tolerant traits in corn, soybeans, and wheat have generally delivered modest yield improvements, limiting th...
Key Takeaways: Peace at last in the Persian Gulf? Over the weekend, the U.S. announced and Iranian officials confirmed a peace agreement, with formal ratification set for Geneva on 19 June. The announcement means the Strait of Hormuz is set to reopen fully and toll-free within 30 days.&n...
