What You Need to Know Today:
Wheat futures pulled back sharply after Russian President Putin said there was a “chance” for peace and an agreement to end the war in Ukraine. There is plenty of skepticism about the opportunity for peace in Ukraine, but that didn’t stop wheat from selling off and pulling soybeans and corn lower too, at least initially. Corn futures managed to shrug off a weaker start as traders are increasingly worried about the impacts of El Nino on this year’s crops, particularly the Brazilian safrinha crop that remains vulnerable to drought. New crop soybean and soymeal export sales were strong this week and helped put a firm footing under futures. The export outlook for meal in particular remains o...
What You Need to Know Today: The U.S. dollar continued to strengthen Thursday as persistent inflation reinforced expectations for additional Federal Reserve interest rate hikes. Higher Treasury yields have helped support the dollar, potentially reducing the competitiveness of U.S. agricultural...
In yesterday’s WASDE, USDA reduced its overall red meat and poultry production forecast for 2026 as declines in beef and broiler output more than offset increases in pork and turkey production. Fourth-quarter beef production was revised downward because of slower fed cattle marketings and...
Key Takeaways: Dry bulk freight markets were stronger this week, but the rally was uneven and due to divergent dynamics across basins and vessel classes. Panamax markets were broadly higher, but Atlantic grain demand was primarily responsible while Asian activity was subdued. That trend...
