There were several developments and stories in the news this week that could have future market implications.
Stats Canada released its initial production estimates yesterday morning, which were generally a bit smaller than the trade was expecting. Among the Canadian crop projections were the following:
All wheat at 25.5 MMT was 1 MMT below USDA’s August estimate, and durum was a surprise at 3.9 MMT since the trade was looking for 4.2-4.5 MMT. Canola was 18.2 MMT versus 19.6 MMT last year and trade estimates generally in the 19 MMT range. (The 2016 canola crop was surprising raised by more than 1 MMT.). Lentil production came in at 2.3 MMT, well below last year’s 3.3 MMT. Barley production is expected to be down 18 percent from...
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...
