THE OPEN
March beans: 3 higher March meal: 2.90 higher March soyoil: 34 lower March corn: 1/2 higher March wheat: 7 1/2 higher
The markets opened as expected with wheat making new highs at the start of the day on news that the Russian Ag Ministry proposed a plan to implement a first half 2020 grain export quota system. This is a story that is always supportive for wheat and drove the market to trading range highs today. Corn tried to follow but, once again, found pressure as it neared the upper end of its trading range. Wheat became the story of the day, as corn prices and other markets faded from beginning strength, with oilshare seeing support at recent lows. SOY The soy complex opened as called with more buying surfacing in b...
Key Takeaways: Dry bulk markets remain mixed with Capesize vessels seeing continued pressure from weaker demand while fixtures and rate strength gradually increases towards the smaller vessel classes. Tanker markets are pulling back from their recent highs as tonnage moves out of the Mid...
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...
Key Takeaways: Texas illustrates the assumptions underlying the 2025 FMMO reform; Idaho exposes their limitations. The Southwest order blend (roughly 27 percent Class I, 32 percent Class III and 31 percent Class IV) exposes Texas producers to every lever USDA adjusted, with a near-neutral proj...
