Before the June report was issued, corn and wheat were trading lower and soybeans were up by around 18 cents. Overall, the report was bearish both corn and soybeans, and somewhat bullish wheat. But that is not how the market necessarily played it. Corn and HRW understandably closed lower and SRW higher, but soybeans shot up over 23 cents. There is fun and intrigue in the soyoil market but first the WASDE. USDA wasn’t ready to lower U.S. corn and soybean production as much as some analysts expected early season dryness would compel them to. Wheat was a mixed bag with the agency seeing less damaged HRW but not as much SRW as expected. Thus, HRW lost 7 cents today and SRW gained four.
For both old crop and new crop, USDA sees h...
What You Need to Know Today: U.S. naval escorts through the Strait of Hormuz and renewed Iranian attacks on vessels and UAE infrastructure are sustaining geopolitical risk across energy and commodity markets Broad profit taking and weaker crude oil triggered a pullback across grains, signaling...
The House Energy and Commerce Subcommittee on Health held a hearing on legislative proposals concerning food regulation and oversight. The hearing was focused on a wide range of bills, in keeping with the Make America Healthy Again (MAHA) agenda, ranging from anti–plant-based dairy produc...
Mediterranean/Middle East/North Africa/Africa – MEA Region Egypt and Algeria, in addition to Israel, are being monitored by Ukraine as possible destinations for grain taken by Russia from occupied Ukrainian regions. In April, Egypt had said that it would “stop accepting such shipmen...
