U.S. farmers are being patient marketing old crop corn and soybean stocks amid ongoing weather concerns in the U.S. Cash soy crush margins are near record highs at $3/bushel, which is keeping basis firm and increasing competition between exporters and crushers. Brazilian weather trends are increasingly bullish, and the key corn-producing state of Mato Grosso is amid the driest April in 17 years. The rainy season ended early this year and precipitation has been scant since. Mato Grosso accounts for some 32 percent of total corn production, so the drought, which is intensifying as the crop pollinates, could have an outsized impact on the country’s production.
Outside markets were mostly higher at mid-week with U.S. equit...
What You Need to Know Today: U.S. launches naval escort operations in the Strait of Hormuz as Iran attacks UAE oil infrastructure, escalating geopolitical risk and supporting energy and broader commodity markets Biofuel demand entering uncharted territory, with soyoil valuation increasingly di...
The Middle East is said to be undergoing a transformation as economic priorities transcend security concerns. This is evidenced by diversification away from oil and the UAE’s departure from OPEC. Meanwhile, the Palestine issue has been deprioritized, and Iran has emerged as more destabili...
All eyes are shifting to the Senate following the House passage of a farm bill last Thursday. Senate Agriculture Committee Chair John Boozman (R-Arkansas) is targeting the end of May or early June for a bill markup. According to Boozman, the House “going ahead and passing something was re...
