Drought Damage Hits South American Crops The South American drought continues to be the major problem in ag commodities these days. Brazil is in the best situation, since it is only dry in the South and Rio Grande do Sul and the rest of the country received good rains last week.Conab estimated Brazil's soybean production at 71.75 MMT (compared to 75.3 MMT of the last campaign) and USDA predicted 75 MMT in its December estimate. However, we believe that USDA will correct that number downward to around 73 MMT in the upcoming WASDE report on Thursday. Rio Grande do Sul produces 10 MMT of the country's total production.Conab estimated Brazil's corn production at 59.2 MMT (compared to 57.5 MMT of the last campaign). USDA estimated the number...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
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