What You Need to Know Today:
Grain futures fell hard overnight after the USDA’s Crop Conditions report showed better-than-expected ratings for corn and soybeans, despite difficult weather last week. The Conditions report was even more bearish in light of meaningfully beneficial rains across Iowa and neighboring areas on Monday and a cooler outlook for the Midwest this week. Despite the positive conditions data, corn futures strengthened on persistent concerns about yield impacts from the recent heat. The U.S. and Mexico started the first of three days of trade talks on Tuesday to finish USMCA trade deal revisions. Late Monday, President Trump announced new tariffs on Canadian products, including wine, hockey sticks, and cement. In re...
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...
