Tidbits, Field Feedback, EU & Australian Crops, Indian Sowing 7/29/26
- Wright team
- 20 minutes ago
- 4 min read
Tidbits
Just before the CBOT trading day ends today, the Federal Reserve will announce its decision on interest rate change. The CME's Fed Watch Tool shows the market has priced-in a 29.4% chance of a rate hike.
Flash sale:Â Yesterday morning, the USDA announced the sale of 197,272 mts of new crop corn to unknown.
When a sales tonnage is not an even thousand mts, it means the grain is going to be shipped by train. Modern rail hopper cars have a maximum gross weight of 286,000 pounds. All rail cars have a maximum gross weight painted on the side. There are no weight limits on ships other than not to make the vessel un-seaworthy. Sales announcements with a tonnage of an even thousand mts will be shipped in a vessel because plus or minus 500 tons is insignificant for a ship. Yesterday’s corn sale of 197,272 mts was to either Canada or Mexico. Canada imports about 2 million mts of corn each year and Mexico imports about 25 million mts.
Field Feedback: Rich in Southeast Minnesota said yesterday his crops are excellent. A consensus of our clients is that Illinois corn will not yield as much as last year, but Iowa probably will yield as much or a little more than in 2025.
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