The geopolitics of war in Iran are said to now be eclipsing any market focus on next week’s USDA March WASDE report. Volumes were modest in today’s trading, but the message was nonetheless clear – shipping grain and inputs is getting complicated. Notably, the ratio of December corn prices to November soybeans has shifted in favor of corn. The price will have to get bid up if the higher cost of energy-intensive inputs becomes a planting issue. For the day, there were new contract highs for May soybeans and soyoil. On the week, notable metrics include:
It was the third week in a row for higher prices in corn, soybeans, soyoil, and lean hogs. It was the second week higher for May SRW and HRS. Only lowly soymeal c...
What You Need to Know Today: Crude oil prices dropped sharply with traffic flowing through the Strait of Hormuz. There were reports that Iran was behind an attack on a cargo ship near the coast of Oman, which would be a violation of the memorandum of understanding between the U.S. and Iran. Pr...
On Wednesday, the White House submitted a national security supplemental spending request for $87.6 billion. The majority of the request includes funding for the conflict in the Middle East, but there are agricultural provisions as well. The supplemental funding package includes more than $11 b...
Can we really expect a bushel of corn to carry an environmental passport throughout the entire food system? One that reliably documents its carbon footprint, biodiversity impacts, water use, soil carbon, and other environmental attributes all the way from the farm field to the consumer? This is...
