Tidbits, Field Feedback, EU & Australian Crops, Indian Sowing 7/29/26
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: 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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