Wheat, corn and soybean markets opened lower overnight, and they traded that way throughout the day session. A number of factors contributed to this trend today, including:
The forecast from last week for some rains (not expected to be heavy) across Argentina by this weekend hasn’t changed. Last Friday’s Commitment of Traders report showed the funds had covered a surprising amount of their short positions in soybeans, corn and wheat. The concern was that this did not really impact the markets or, at the least, didn’t push prices wildly higher. U.S. equity markets were again getting hammered today and are now down roughly 5 percent from their highs, which is creating some angst across most markets. Crude oil was lower...
What You Need to Know Today: A third U.S. border crossing (Columbus, New Mexico) has reopened to Mexican cattle imports following nearly two years of restrictions related to New World screwworm. The reopening could gradually improve feeder cattle availability, although more than 60 confi...
Yesterday, the USDA’s Agricultural Marketing Service (AMS) released a new report of negotiated cash purchases of cattle under the mandatory price report. The report included Colorado, New Mexico, Oklahoma, Texas, and Kansas. The goal of the report was to solve the confidentiality issues e...
Key Takeaways: U.S. soybean crushing began in 1911 and saw its most rapid expansion during the 1930s amid the broader agricultural and technology revolutions of the time. After peaking in the early 2000s, the soybean crushing industry went through a downturn as poor crush margins forced...
