Summary of Futures
Dec 26 Corn closed at $4.5625/bushel, down $0.08 from yesterday's close. Sep 26 Wheat closed at $6.0775/bushel, down $0.1075 from yesterday's close. Nov 26 Soybeans closed at $11.9225/bushel, down $0.055 from yesterday's close. Dec 26 Soymeal closed at $311.2/short ton, down $...
Market Commentary: Geopolitical Risk Back in Play
What You Need to Know Today: President Trump claimed the ceasefire between the U.S. and Iran was over, as both sides accused one another of violating the terms of the agreement. Commercial vessels are increasingly steering clear of the Strait of Hormuz as security risks escalate following Iran...
Can Lean Beef Futures Succeed Where Others Have Failed?
Key Takeaways: The CME Group is launching new 90 percent Lean Beef and 50 percent Lean Beef futures and options contracts in July. There are five key factors that must be present in physical markets and futures contract specifications for futures contracts to become successful. The two l...
Summary of Futures
Dec 26 Corn closed at $4.6425/bushel, up $0.065 from yesterday's close. Sep 26 Wheat closed at $6.185/bushel, up $0.045 from yesterday's close. Nov 26 Soybeans closed at $11.9775/bushel, up $0.055 from yesterday's close. Dec 26 Soymeal closed at $316.5/short ton, up $3 from ye...
Market Commentary: CBOT Rallies Amid Weather Market; U.S. Revokes Iran’s Oil Licenses
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Choice Boxed Beef Price Falls to Yearly Low
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
Why Middle Eastern and North African Wheat Demand Remains a Key Driver of Global Trade
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
WPI Crop Progress and Conditions App (Updated 7 July)
Developer's Note: Last year, users pointed out differences between the 5-year averages reported in this app and what USDA estimates in its weekly report. The difference exists because WPI calculates average based on the last 5 years of observations for the current week. In cases where obs...
Summary of Futures
Dec 26 Corn closed at $4.5775/bushel, up $0.1625 from yesterday's close. Sep 26 Wheat closed at $6.14/bushel, up $0.1425 from yesterday's close. Nov 26 Soybeans closed at $11.9225/bushel, up $0.445 from yesterday's close. Dec 26 Soymeal closed at $313.5/short ton, up $9.1 from...
Market Commentary: Weather Risk Materializes
What You Need to Know Today: This time of year, grain markets are often just one weather forecast away from a sharp rally, and today's hotter, drier outlook provided the catalyst for significant gains in corn and soybean futures. Livestock markets were relatively quiet by comparison, with most...
Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending
The final reading for real GDP growth in Q1 was revised upward to a 2.1 percent rate from a prior estimate of 1.6 percent, but the underlying details show a weaker mix. The stronger headline reflected a large upward revision to net exports, along with smaller upward adjustments to inventories a...
Summary of Futures
Dec 26 Corn closed at $4.415/bushel, down $0.0075 from yesterday's close. Sep 26 Wheat closed at $5.9975/bushel, down $0.0025 from yesterday's close. Nov 26 Soybeans closed at $11.4775/bushel, down $0.015 from yesterday's close. Dec 26 Soymeal closed at $304.4/short ton, down...
Summary of Futures
Dec 26 Corn closed at $4.5625/bushel, down $0.08 from yesterday's close. Sep 26 Wheat closed at $6.0775/bushel, down $0.1075 from yesterday's close. Nov 26 Soybeans closed at $11.9225/bushel, down $0.055 from yesterday's close. Dec 26 Soymeal closed at $311.2/short ton, down $...
Market Commentary: Geopolitical Risk Back in Play
What You Need to Know Today: President Trump claimed the ceasefire between the U.S. and Iran was over, as both sides accused one another of violating the terms of the agreement. Commercial vessels are increasingly steering clear of the Strait of Hormuz as security risks escalate following Iran...
Can Lean Beef Futures Succeed Where Others Have Failed?
Key Takeaways: The CME Group is launching new 90 percent Lean Beef and 50 percent Lean Beef futures and options contracts in July. There are five key factors that must be present in physical markets and futures contract specifications for futures contracts to become successful. The two l...
Summary of Futures
Dec 26 Corn closed at $4.6425/bushel, up $0.065 from yesterday's close. Sep 26 Wheat closed at $6.185/bushel, up $0.045 from yesterday's close. Nov 26 Soybeans closed at $11.9775/bushel, up $0.055 from yesterday's close. Dec 26 Soymeal closed at $316.5/short ton, up $3 from ye...
Market Commentary: CBOT Rallies Amid Weather Market; U.S. Revokes Iran’s Oil Licenses
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Choice Boxed Beef Price Falls to Yearly Low
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
Why Middle Eastern and North African Wheat Demand Remains a Key Driver of Global Trade
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
WPI Crop Progress and Conditions App (Updated 7 July)
Developer's Note: Last year, users pointed out differences between the 5-year averages reported in this app and what USDA estimates in its weekly report. The difference exists because WPI calculates average based on the last 5 years of observations for the current week. In cases where obs...
Summary of Futures
Dec 26 Corn closed at $4.5775/bushel, up $0.1625 from yesterday's close. Sep 26 Wheat closed at $6.14/bushel, up $0.1425 from yesterday's close. Nov 26 Soybeans closed at $11.9225/bushel, up $0.445 from yesterday's close. Dec 26 Soymeal closed at $313.5/short ton, up $9.1 from...
Market Commentary: Weather Risk Materializes
What You Need to Know Today: This time of year, grain markets are often just one weather forecast away from a sharp rally, and today's hotter, drier outlook provided the catalyst for significant gains in corn and soybean futures. Livestock markets were relatively quiet by comparison, with most...
Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending
The final reading for real GDP growth in Q1 was revised upward to a 2.1 percent rate from a prior estimate of 1.6 percent, but the underlying details show a weaker mix. The stronger headline reflected a large upward revision to net exports, along with smaller upward adjustments to inventories a...
Summary of Futures
Dec 26 Corn closed at $4.415/bushel, down $0.0075 from yesterday's close. Sep 26 Wheat closed at $5.9975/bushel, down $0.0025 from yesterday's close. Nov 26 Soybeans closed at $11.4775/bushel, down $0.015 from yesterday's close. Dec 26 Soymeal closed at $304.4/short ton, down...