Last week’s unexpectedly big hard red winter wheat yield forecast from the wheat tours kept pressure on wheat again today. The big rally in the U.S. dollar was also a negative factor. The fact that corn and soybeans were also very weak added to the wheat problem. General Comments Markets were quiet in the Sunday evening session, but they turned lower at this morning’s opening and traded lower the rest of the session. The bearish news today was:
USDA’s May reports will be released tomorrow, and no one expects any bullish news. The acting leader of the lower house in Brazil’s government evidently figured out a way to annul the impeachment vote. That sent the real and Brazil’s stock market crashing lower. Crude oil was down more than $1...
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...
