THE OPEN
November beans: 3 1/4 higher December meal: .70 higher December soyoil: 18 lower December corn: 2 3/4 higher December wheat: 1 1/2 lower
The markets worked higher on technical follow-through from yesterday's reversal price action, which was a result of different stories/tweets regarding biofuels and trade talks. As to the first; Reuters announced that Trump said the administration planned a "giant package" related to ethanol. The second was confirmation as to perhaps a better outcome for trade talk negotiations. The Chinese Commerce Ministry made statements that implied that China and the US are making plans for the next face to face talks in September. In the meantime, China said they would refrain from takin...
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: 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...
