JULY 16, 2022 Hands down, the most surprising release during the past week was delivered by the Bureau of Labor Statistics with the publication of the June Consumer Price Index report. Economists had been anticipating a reading of 8.8% above last year, which itself would have established a new high-water…
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Undoubtedly, most of you are familiar with the old proverb that says, “March comes in like a lion and goes out like a lamb.” Well, that saying would appear to be the perfect metaphor for the performance in the grain/soy markets this week. After opening higher with the exuberance of…
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We had one pleasant surprise in last week’s export sales, which comes via wheat. For the week ending the 7th of July, we sold 1,017,200 MT or 37.4 million bushels. China was the top purchaser with 265.3k MT, followed by South Korea taking 148.4k and Mexico stepping in for 91.3k. …
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Outside of the fact that ending stocks estimates, both domestic and global, were a bit higher than trade estimates, you would be hard pressed to really suggest much of anything in the reports issued by Uncle Sam yesterday were negative. Still, of course, the market reaction would have indicated otherwise….
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My-oh-my, Monday turned out to be a rather disheartening day for bulls in the grain and soy markets. After having gapped higher in several different commodities and reaching up to the highest levels traded in a couple of weeks, we made an abrupt about-face for the close, finishing towards the…