Tidbits, Market Comment, Fuel, Black Sea, Canada & Tariffs, FOB 8/24/26
- Wright team
- 1 hour ago
- 4 min read
Tidbits
Market Comment:
December corn opened 2 to 4¢ higher last evening and then proceeded to move 13¢ higher in the first two hours of trading. Wheat was a follower gaining 2¢ less than the corn. Soybeans were down 4 to 7¢ as the Pro Farmers yield numbers were more than a half bushel above the USDA’s. The next USDA crop production report is 11 September, 14 trading days away. A lot can happen between now and 11 September.
Keep in mind, StoneX put the corn yield at 184.8 and Pro Farmers at 173.2. Most of StoneX’s clients are grain companies and most of Pro Farmers’ clients are farmers. It is likely the high for corn this week will be today. Our longer-term outlook for all three major commodities remains substantially higher into the end of the year because of demand, El Niño, and diesel fuel shortages.
Fuel:
News reports have recently tracked the diesel crack margin. The diesel crack margin is the price spread between the price of a barrel of crude oil and the value of the refined diesel fuel made from that barrel of oil. It is just like the soybean crush margin, what does a bushel of beans cost versus the value of the meal and oil derived from it.
Want to read more?
Subscribe to wrightonthemarket.com to keep reading this exclusive post.
