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: Corn, wheat, and the soy complex all formed new contract or at least rally highs to close what has become one of the most uniformly bullish weeks in CBOT history. Escalations in the fighting between Russia and Ukraine and attacks on civilian merchant vessels show n...
The Federal Reserve Board holds an annual meeting in Jackson Hole, Wyoming, each year about this time, and this year’s meeting is now. It’s always a “must-watch” event, but this year, amidst persistent inflation and with a new Fed chairman, Kevin Warsh, it drew additiona...
You cannot escape the vortex of opinions about water scarcity in the Western United States, especially in the drought-stricken Colorado River Basin. Agriculture is the villain in many of these editorials. Agriculture uses too much water, so it should use less, is the refrain. We all wish it was...
