Tidbits, New Tariffs, GDP, Exports & Wheat, Broilers & Ethanol 7/31/25
- Wright team
- Jul 31
- 5 min read
Tidbits
The U.S. GDP for the second quarter at 3%, market expected just 2.3%.
As expected, the Federal Reserve left interest rates unchanged. For the first time since 1993, two Federal Reserve officials dissented from the majority decision out of total 11 votes, advocating for a rate cut. Fed Governor Christopher Waller and Vice Chair for Supervision Michelle Bowman, both Trump appointees, broke with the majority.
The Bank of Canada held its benchmark interest rate unchanged at 2.75%, as expected by the markets, to mark the third hold following 2.25 percent points reductions over seven consecutive decisions.
Crude oil inventories in the United States increased by 7.7 million barrels, according to the EIA. The increase brings commercial stockpiles to 426.7 million barrels, which is still 6% below the five-year average for this time of year.
August futures deliveries:
Soybean Meal: 1026 to 29 July to “strong hands” of StoneX, 420; Bunge, 292; ADM 180
Soybean Oil: 84 to 11 June
Soybeans: 349 to 24 July; all issued (put out) by Bunge; to “strong hands” as 325 to Louis Dreyfuss
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