Funds are still short a record amount of wheat futures. Without much other bad news left to throw at the wheat market, a few positive stories have apparently started to make some of the fund shorts a bit nervous.This week's USDA reports were important because they set the initial tone or benchmark numbers for the next marketing year. There was nothing bullish in the numbers, as Bob Kohlmeyer pointed out in his analysis the day that the reports were released, as well as nothing really bearish for corn or wheat. The soybean numbers are clearly bearish, but they have been for several months, and the market has continued to trade in a relatively narrow range. We still expect that will widen to the downside in the next 30-45 days. Planting progr...
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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