ABARES in Australia over the weekend pegged Aussie wheat production at 16.6 MMTs, vs. the USDA’s 18.5 and vs. 21.3 MMTs a year ago. It’s always the second year of drought that really disrupts the Aussie grain market. Aussie wheat futures this evening rest at $8.30/Bu. More profit is being found transshipping wheat from the…
US Forecast Maintains Rain in East Next 10 Days: The EU and GFS models are at odds on the temp profile next week (the EU is cooler) but otherwise the US forecast is little changed. A more active pattern of rainfall begins in the Delta/Southeast and Eastern Midwest Wednesday. Additional precip is forecast across the…
In this week’s newsletter, we take a look at US corn and soy complex exports to date, and how they compare to USDA forecasts.
Following a higher start to the day, bullish enthusiasm slowly disappeared, and futures drifted back towards unchanged. At the close, futures were lightly mixed, with December marking the best increase of just $.15. The cash index was off $.45 at $64.16, and a further decline of $.23 is expected for Wednesday. The pork cutout…
US wheat futures ended weaker amid limited news but amid a generally negative macro backdrop. Crude settled lower, the US dollar rallied to test August’s high. There’s also concern over the value of Russia’s ruble amid coming US sanctions. A weaker ruble would aid exporter profitability there but also work to further boost inflation. Already…
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