World Perspectives

Wheat Recent Wheat Analysis

feed-grains soy-oilseeds wheat

Market Commentary: Wheat Hits New Highs on Smaller Russian Crop; Corn, Soy Fall on Planting Progress

The CBOT was mixed on Tuesday with corn and the soy complex finding pressure after Monday’s Crop Progress report reflected better-than-expected planting progress. That reduced concerns about late plantings negatively impacting yields or, for soybeans, unplanted corn acres being switched t...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.58/bushel, down $0.025 from yesterday's close.  Jul 24 Wheat closed at $6.975/bushel, up $0.0875 from yesterday's close.  Jul 24 Soybeans closed at $12.3625/bushel, down $0.1175 from yesterday's close.  Jul 24 Soymeal closed at $372.3/short ton, down $1.8...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Iraq’s Kurdish Regional Government (KRG) hopes to reach an agreement with the government that would guarantee the purchase of 650,000 MT of KRG wheat production. In 2023, Iraq bought 500,000 MT of KRG wheat...

feed-grains wheat soy-oilseeds

Market Commentary Market Commentary: Wheat Leads the Way on Weather Worries; Soyoil Rallies on China SAF Plans

Reports of frost damage in Ukraine sent CBOT futures higher to start the week with wheat once again leading the way. Weather conditions remain challenging for wheat seemingly across the entire Northern Hemisphere, which has created the meteoric rise in values. Now, concerning weather forecasts...

feed-grains soy-oilseeds wheat

WPI Crop Progress and Conditions App (Updated 20 May)

Update for 1 April 2024: 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 ob...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.605/bushel, up $0.08 from yesterday's close.  Jul 24 Wheat closed at $6.8875/bushel, up $0.375 from yesterday's close.  Jul 24 Soybeans closed at $12.48/bushel, up $0.2 from yesterday's close.  Jul 24 Soymeal closed at $374.1/short ton, up $5.3 from yeste...

feed-grains soy-oilseeds wheat

European Market Analysis

Regional News  Russia’s agriculture ministry announced that 900,000 hectares of crops will need to be reseeded this year after several frosts/freeze events that destroyed crops in south/central Russia.  The French spring crop area is forecast to include 1.44 Mha of corn (up 9.6...

feed-grains wheat soy-oilseeds

Mercosur Regional Analysis

Corn  Argentina’s corn harvest continues to progress slowly, slower than WPI expected. It currently spans 25 percent of the area, which implies an 8 percent delay compared to the five-year average. The progress is slowed as combines are still fully engaged in harvesting soybeans and...

feed-grains soy-oilseeds wheat

Market Commentary: Bulls Rest Amid Quiet Headlines but Weather Minimizes Downside Potential

The CBOT was mixed to close a week that has generally featured quiet or range-bound trade (except the soyoil market) with traders seemingly weighing their long-term outlooks amid conflicting weather and production signals. Wheat was lower on Friday with pressure coming from larger-than-expected...

feed-grains wheat soy-oilseeds

CFTC COT Report Analysis

The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity markets. The data is, of course, taken from the CFTC's weekly Commitment of Traders report, using the futures only data. WPI recently completed a...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.525/bushel, down $0.045 from yesterday's close.  Jul 24 Wheat closed at $6.5125/bushel, down $0.12 from yesterday's close.  Jul 24 Soybeans closed at $12.28/bushel, up $0.1175 from yesterday's close.  Jul 24 Soymeal closed at $368.8/short ton, up $1.1 fro...

feed-grains soy-oilseeds wheat

Market Commentary: A Breather in the Market

There was little pushing the market one way or another today, other than a sense that things had been pushed high enough for now. The open was mostly higher but that softened not long after the open. The run-up in prices last week led to farmer selling, and so this was a third day of selling co...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.57/bushel, down $0.055 from yesterday's close.  Jul 24 Wheat closed at $6.6325/bushel, down $0.025 from yesterday's close.  Jul 24 Soybeans closed at $12.1625/bushel, up $0.0275 from yesterday's close.  Jul 24 Soymeal closed at $367.7/short ton, down $4 f...

feed-grains soy-oilseeds wheat

Market Commentary: CBOT Pauses and Drifts Lower; NOPA Crush Disappoints; Energies Rally as Inflation Eases

The CBOT started out firm again in the overnight session but quickly turned lower once the day session started. The reason seemed to be “sell the fact” trade after the recent weather market rise in prices with traders seeming to think grain and oilseed supplies may be a bit better t...

feed-grains soy-oilseeds wheat

Black Sea Regional Analysis

Russian Grain Markets: 6–10 May 2024 This year’s spring weather in Russia is abnormal; last week frost was registered across European Russia ranging from Smolensk all the way to Volga Valley. Some nighttime temperatures were as low as minus 12 degrees Celsius which is catastrophic f...

feed-grains soy-oilseeds wheat

Market Commentary: Soyoil Sinks as Cooking Oil Escapes Tariffs; Grains Fall on Crop Progress

The CBOT pushed higher overnight with corn notching a new four-month high and wheat futures extending their rally, but that strength quickly faded during the day session. One of the biggest drivers for the day’s declines was the failure of used cooking oil to be included in the Biden Admi...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.675/bushel, down $0.05 from yesterday's close.  Jul 24 Wheat closed at $6.725/bushel, down $0.145 from yesterday's close.  Jul 24 Soybeans closed at $12.145/bushel, down $0.05 from yesterday's close.  Jul 24 Soymeal closed at $373.3/short ton, up $6.8 fro...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Saudi Arabia’s Modern Mills Company is now trading its shares on the Saudi Exchange. Thirty percent of its shares were offered to public, retail, and institutional investors and the IPO was vastly oversubscr...

feed-grains soy-oilseeds wheat

Market Commentary: Wheat Still Leads CBOT Rally; Frost/Freeze Threatens Russian Wheat Crop

In what has become a common refrain this year, wheat futures were again the upside leader in Monday’s CBOT trade as markets are increasingly concerned about Northern Hemisphere weather. Monday’s trade was seemingly primarily focused on the dryness and recent frost/freeze events in c...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.725/bushel, up $0.0275 from yesterday's close.  Jul 24 Wheat closed at $6.87/bushel, up $0.235 from yesterday's close.  Jul 24 Soybeans closed at $12.195/bushel, up $0.005 from yesterday's close.  Jul 24 Soymeal closed at $366.5/short ton, down $5.4 from...

feed-grains soy-oilseeds wheat

European Market Analysis

Regional News  Frosts in Russia’s central, southern, and Volga regions have halted spring planting efforts, which will likely contribute to lower yield potential this year. Russia has completed spring seeding on 16.9 Mha, or 30.2 percent of the planned area, so far. Some of these are...

feed-grains wheat soy-oilseeds

Mercosur Regional Analysis

Wheat Brazil’s state of Rio Grande do Sul is experiencing the worst climatic catastrophe in the last 80 years, with intense rains causing major floods. There are many dead, injured, and evacuated individuals. Rio Grande do Sul represents approximately 50 percent of the country's wheat pro...

wheat

WASDE Wheat

USDA’s outlook for 2024/25 U.S. wheat is for larger supplies, increased exports, and higher ending stocks. Supplies are projected to increase six percent from 2023/24. U.S. wheat yield is projected at 48.9 bushels per acre, up 0.3 bushels. 2024/25 ending stocks are eleven percent above la...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.6975/bushel, up $0.1325 from yesterday's close.  Jul 24 Wheat closed at $6.635/bushel, up $0.26 from yesterday's close.  Jul 24 Soybeans closed at $12.19/bushel, up $0.105 from yesterday's close.  Jul 24 Soymeal closed at $371.9/short ton, down $1 from ye...

feed-grains soy-oilseeds wheat

Market Commentary: Wheat Leads WASDE-Defying CBOT Rally

The CBOT was higher heading into Friday’s May WASDE report from the USDA with weather and production concerns in various parts of the globe driving futures into the green. The WASDE didn’t really support an outlook for higher trade/prices, but the CBOT rallied anyway after the repor...

wheat soy-oilseeds feed-grains

CFTC COT Report Analysis

The surprise in this week’s CFTC report is that – through Tuesday’s data reporting deadline - funds were more aggressive covering grain/oilseed shorts than expected. The headline number is that funds bought back over 111,000 contracts and are now only short about 30,000 contra...

feed-grains soy-oilseeds wheat

Market Commentary: Weather and Old versus New Crop

The trade continued to position ahead of tomorrow’s May USDA WASDE report. Some took profits as they backed out of positions but, overall, there was lower volume. The exception being soyoil where a new July contract low was printed. Adverse South American crop weather supports old crop v...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.565/bushel, down $0.02 from yesterday's close.  Jul 24 Wheat closed at $6.375/bushel, up $0.035 from yesterday's close.  Jul 24 Soybeans closed at $12.085/bushel, down $0.1925 from yesterday's close.  Jul 24 Soymeal closed at $372.9/short ton, down $5.6 f...

feed-grains soy-oilseeds wheat

Export Sales

Export Sales and Shipments for April 26-May 2, 2024  Wheat:  Net sales of 41,100 metric tons (MT) for 2023/2024 were down noticeably from the previous week, but up noticeably from the prior 4-week average. Export shipments of 337,500 MT were down 34 percent from the previous week and...

feed-grains soy-oilseeds wheat

Market Commentary: Grains, Oilseeds Contract on More Pre-WASDE Positioning

Grain futures continue to retreat from their recent rally highs with traders unwilling to overextend risks heading into Friday’s WASDE report. The WASDE should be supportive old crop futures from cuts to the Brazilian and Argentine crops, but new crop futures could see pressure from expec...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.585/bushel, down $0.085 from yesterday's close.  Jul 24 Wheat closed at $6.34/bushel, down $0.0875 from yesterday's close.  Jul 24 Soybeans closed at $12.2775/bushel, down $0.1875 from yesterday's close.  Jul 24 Soymeal closed at $378.5/short ton, down $4...

feed-grains soy-oilseeds wheat

Black Sea Regional Analysis

Russian Grain Markets: 29 April–3 May 2024 Last week Russia celebrated International Labor Day, and on May 9 will celebrate WWII Victory Day, resulting in a long 10-day holiday for many Russian families, including grain traders. This traditionally slows down trade, however, logistics cont...

feed-grains soy-oilseeds wheat

Market Commentary: Traders Pause CBOT Rally While Eyeing WASDE

The grain market fundamentals didn’t change much from Monday to Tuesday, but traders largely suspended their short-covering or long-positioning efforts as they looked ahead to the May WASDE. The report will be issued this Friday and will include USDA’s first projections for MY 2024/...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.67/bushel, down $0.02 from yesterday's close.  Jul 24 Wheat closed at $6.4275/bushel, down $0.06 from yesterday's close.  Jul 24 Soybeans closed at $12.465/bushel, down $0.0225 from yesterday's close.  Jul 24 Soymeal closed at $383.2/short ton, down $4.4...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt has received 1,000,000 MT of local wheat since the harvest began on 13 April. The government’s target is to receive 3.5 MMT from the 2024 harvest. Egypt may become a market for South African maize expo...

feed-grains soy-oilseeds wheat

Market Commentary: Bulls Are Running Again

Bulls remain firmly in charge of CBOT ag trade with weather concerns seemingly around the world prompting short covering and fresh long buying. Wheat and soybeans were the upside leaders at the CBOT once again as these two commodities hold the most bullish weather implications. Corn was largely...

feed-grains soy-oilseeds wheat

Market Commentary: Wheat Hits New Highs on Smaller Russian Crop; Corn, Soy Fall on Planting Progress

The CBOT was mixed on Tuesday with corn and the soy complex finding pressure after Monday’s Crop Progress report reflected better-than-expected planting progress. That reduced concerns about late plantings negatively impacting yields or, for soybeans, unplanted corn acres being switched t...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.58/bushel, down $0.025 from yesterday's close.  Jul 24 Wheat closed at $6.975/bushel, up $0.0875 from yesterday's close.  Jul 24 Soybeans closed at $12.3625/bushel, down $0.1175 from yesterday's close.  Jul 24 Soymeal closed at $372.3/short ton, down $1.8...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Iraq’s Kurdish Regional Government (KRG) hopes to reach an agreement with the government that would guarantee the purchase of 650,000 MT of KRG wheat production. In 2023, Iraq bought 500,000 MT of KRG wheat...

feed-grains wheat soy-oilseeds

Market Commentary Market Commentary: Wheat Leads the Way on Weather Worries; Soyoil Rallies on China SAF Plans

Reports of frost damage in Ukraine sent CBOT futures higher to start the week with wheat once again leading the way. Weather conditions remain challenging for wheat seemingly across the entire Northern Hemisphere, which has created the meteoric rise in values. Now, concerning weather forecasts...

feed-grains soy-oilseeds wheat

WPI Crop Progress and Conditions App (Updated 20 May)

Update for 1 April 2024: 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 ob...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.605/bushel, up $0.08 from yesterday's close.  Jul 24 Wheat closed at $6.8875/bushel, up $0.375 from yesterday's close.  Jul 24 Soybeans closed at $12.48/bushel, up $0.2 from yesterday's close.  Jul 24 Soymeal closed at $374.1/short ton, up $5.3 from yeste...

feed-grains soy-oilseeds wheat

European Market Analysis

Regional News  Russia’s agriculture ministry announced that 900,000 hectares of crops will need to be reseeded this year after several frosts/freeze events that destroyed crops in south/central Russia.  The French spring crop area is forecast to include 1.44 Mha of corn (up 9.6...

feed-grains wheat soy-oilseeds

Mercosur Regional Analysis

Corn  Argentina’s corn harvest continues to progress slowly, slower than WPI expected. It currently spans 25 percent of the area, which implies an 8 percent delay compared to the five-year average. The progress is slowed as combines are still fully engaged in harvesting soybeans and...

feed-grains soy-oilseeds wheat

Market Commentary: Bulls Rest Amid Quiet Headlines but Weather Minimizes Downside Potential

The CBOT was mixed to close a week that has generally featured quiet or range-bound trade (except the soyoil market) with traders seemingly weighing their long-term outlooks amid conflicting weather and production signals. Wheat was lower on Friday with pressure coming from larger-than-expected...

feed-grains wheat soy-oilseeds

CFTC COT Report Analysis

The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity markets. The data is, of course, taken from the CFTC's weekly Commitment of Traders report, using the futures only data. WPI recently completed a...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.525/bushel, down $0.045 from yesterday's close.  Jul 24 Wheat closed at $6.5125/bushel, down $0.12 from yesterday's close.  Jul 24 Soybeans closed at $12.28/bushel, up $0.1175 from yesterday's close.  Jul 24 Soymeal closed at $368.8/short ton, up $1.1 fro...

feed-grains soy-oilseeds wheat

Market Commentary: A Breather in the Market

There was little pushing the market one way or another today, other than a sense that things had been pushed high enough for now. The open was mostly higher but that softened not long after the open. The run-up in prices last week led to farmer selling, and so this was a third day of selling co...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.57/bushel, down $0.055 from yesterday's close.  Jul 24 Wheat closed at $6.6325/bushel, down $0.025 from yesterday's close.  Jul 24 Soybeans closed at $12.1625/bushel, up $0.0275 from yesterday's close.  Jul 24 Soymeal closed at $367.7/short ton, down $4 f...

feed-grains soy-oilseeds wheat

Market Commentary: CBOT Pauses and Drifts Lower; NOPA Crush Disappoints; Energies Rally as Inflation Eases

The CBOT started out firm again in the overnight session but quickly turned lower once the day session started. The reason seemed to be “sell the fact” trade after the recent weather market rise in prices with traders seeming to think grain and oilseed supplies may be a bit better t...

feed-grains soy-oilseeds wheat

Black Sea Regional Analysis

Russian Grain Markets: 6–10 May 2024 This year’s spring weather in Russia is abnormal; last week frost was registered across European Russia ranging from Smolensk all the way to Volga Valley. Some nighttime temperatures were as low as minus 12 degrees Celsius which is catastrophic f...

feed-grains soy-oilseeds wheat

Market Commentary: Soyoil Sinks as Cooking Oil Escapes Tariffs; Grains Fall on Crop Progress

The CBOT pushed higher overnight with corn notching a new four-month high and wheat futures extending their rally, but that strength quickly faded during the day session. One of the biggest drivers for the day’s declines was the failure of used cooking oil to be included in the Biden Admi...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.675/bushel, down $0.05 from yesterday's close.  Jul 24 Wheat closed at $6.725/bushel, down $0.145 from yesterday's close.  Jul 24 Soybeans closed at $12.145/bushel, down $0.05 from yesterday's close.  Jul 24 Soymeal closed at $373.3/short ton, up $6.8 fro...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Saudi Arabia’s Modern Mills Company is now trading its shares on the Saudi Exchange. Thirty percent of its shares were offered to public, retail, and institutional investors and the IPO was vastly oversubscr...

feed-grains soy-oilseeds wheat

Market Commentary: Wheat Still Leads CBOT Rally; Frost/Freeze Threatens Russian Wheat Crop

In what has become a common refrain this year, wheat futures were again the upside leader in Monday’s CBOT trade as markets are increasingly concerned about Northern Hemisphere weather. Monday’s trade was seemingly primarily focused on the dryness and recent frost/freeze events in c...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.725/bushel, up $0.0275 from yesterday's close.  Jul 24 Wheat closed at $6.87/bushel, up $0.235 from yesterday's close.  Jul 24 Soybeans closed at $12.195/bushel, up $0.005 from yesterday's close.  Jul 24 Soymeal closed at $366.5/short ton, down $5.4 from...

feed-grains soy-oilseeds wheat

European Market Analysis

Regional News  Frosts in Russia’s central, southern, and Volga regions have halted spring planting efforts, which will likely contribute to lower yield potential this year. Russia has completed spring seeding on 16.9 Mha, or 30.2 percent of the planned area, so far. Some of these are...

feed-grains wheat soy-oilseeds

Mercosur Regional Analysis

Wheat Brazil’s state of Rio Grande do Sul is experiencing the worst climatic catastrophe in the last 80 years, with intense rains causing major floods. There are many dead, injured, and evacuated individuals. Rio Grande do Sul represents approximately 50 percent of the country's wheat pro...

wheat

WASDE Wheat

USDA’s outlook for 2024/25 U.S. wheat is for larger supplies, increased exports, and higher ending stocks. Supplies are projected to increase six percent from 2023/24. U.S. wheat yield is projected at 48.9 bushels per acre, up 0.3 bushels. 2024/25 ending stocks are eleven percent above la...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.6975/bushel, up $0.1325 from yesterday's close.  Jul 24 Wheat closed at $6.635/bushel, up $0.26 from yesterday's close.  Jul 24 Soybeans closed at $12.19/bushel, up $0.105 from yesterday's close.  Jul 24 Soymeal closed at $371.9/short ton, down $1 from ye...

feed-grains soy-oilseeds wheat

Market Commentary: Wheat Leads WASDE-Defying CBOT Rally

The CBOT was higher heading into Friday’s May WASDE report from the USDA with weather and production concerns in various parts of the globe driving futures into the green. The WASDE didn’t really support an outlook for higher trade/prices, but the CBOT rallied anyway after the repor...

wheat soy-oilseeds feed-grains

CFTC COT Report Analysis

The surprise in this week’s CFTC report is that – through Tuesday’s data reporting deadline - funds were more aggressive covering grain/oilseed shorts than expected. The headline number is that funds bought back over 111,000 contracts and are now only short about 30,000 contra...

feed-grains soy-oilseeds wheat

Market Commentary: Weather and Old versus New Crop

The trade continued to position ahead of tomorrow’s May USDA WASDE report. Some took profits as they backed out of positions but, overall, there was lower volume. The exception being soyoil where a new July contract low was printed. Adverse South American crop weather supports old crop v...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.565/bushel, down $0.02 from yesterday's close.  Jul 24 Wheat closed at $6.375/bushel, up $0.035 from yesterday's close.  Jul 24 Soybeans closed at $12.085/bushel, down $0.1925 from yesterday's close.  Jul 24 Soymeal closed at $372.9/short ton, down $5.6 f...

feed-grains soy-oilseeds wheat

Export Sales

Export Sales and Shipments for April 26-May 2, 2024  Wheat:  Net sales of 41,100 metric tons (MT) for 2023/2024 were down noticeably from the previous week, but up noticeably from the prior 4-week average. Export shipments of 337,500 MT were down 34 percent from the previous week and...

feed-grains soy-oilseeds wheat

Market Commentary: Grains, Oilseeds Contract on More Pre-WASDE Positioning

Grain futures continue to retreat from their recent rally highs with traders unwilling to overextend risks heading into Friday’s WASDE report. The WASDE should be supportive old crop futures from cuts to the Brazilian and Argentine crops, but new crop futures could see pressure from expec...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.585/bushel, down $0.085 from yesterday's close.  Jul 24 Wheat closed at $6.34/bushel, down $0.0875 from yesterday's close.  Jul 24 Soybeans closed at $12.2775/bushel, down $0.1875 from yesterday's close.  Jul 24 Soymeal closed at $378.5/short ton, down $4...

feed-grains soy-oilseeds wheat

Black Sea Regional Analysis

Russian Grain Markets: 29 April–3 May 2024 Last week Russia celebrated International Labor Day, and on May 9 will celebrate WWII Victory Day, resulting in a long 10-day holiday for many Russian families, including grain traders. This traditionally slows down trade, however, logistics cont...

feed-grains soy-oilseeds wheat

Market Commentary: Traders Pause CBOT Rally While Eyeing WASDE

The grain market fundamentals didn’t change much from Monday to Tuesday, but traders largely suspended their short-covering or long-positioning efforts as they looked ahead to the May WASDE. The report will be issued this Friday and will include USDA’s first projections for MY 2024/...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.67/bushel, down $0.02 from yesterday's close.  Jul 24 Wheat closed at $6.4275/bushel, down $0.06 from yesterday's close.  Jul 24 Soybeans closed at $12.465/bushel, down $0.0225 from yesterday's close.  Jul 24 Soymeal closed at $383.2/short ton, down $4.4...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt has received 1,000,000 MT of local wheat since the harvest began on 13 April. The government’s target is to receive 3.5 MMT from the 2024 harvest. Egypt may become a market for South African maize expo...

feed-grains soy-oilseeds wheat

Market Commentary: Bulls Are Running Again

Bulls remain firmly in charge of CBOT ag trade with weather concerns seemingly around the world prompting short covering and fresh long buying. Wheat and soybeans were the upside leaders at the CBOT once again as these two commodities hold the most bullish weather implications. Corn was largely...

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