More corn in the domestic market and a weaker Argentine peso helped send local prices lower by AR200/MT ($10/MT), which is good news for certain exporters. Some buyers are not bidding on these stocks, though, for different reasons. Soybeans Brazil A stronger real drove Brazil’s old crop soybean market to an interesting rally last week. The Brazilian currency moved from 3.30 to 3.11 before heading back to 3.13-3.14. Since the country’s farmers had sold a decent volume of old crop soybeans some weeks ago, their selling disappeared last week due to the weaker currency and strong CBOT. Having already sold around 68 percent of that harvest, they are now concentrated on selling corn since it is a huge crop and storage space is limited.Accordin...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
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