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Tidbits, Q&A: HTA Roll, US GDP, Black Sea & Panama, Drought, Export Sales 7/31/26

Tidbits


Flash Sales: Yesterday morning, the USDA announced the sale of 132,000 mts of new crop soybeans to China.


Feedback: Some farmers in Central Minnesota (Morrison County) said they will start chopping corn Monday if they do not get rain this weekend.


The U.S. GDP for the second quarter came in at 1.5% growth rate vs. 1.8% expected.

Jobless claims were increased to 197,000 vs. 201,000 expected and below the recent average.

The June Personal Consumption Expenditure (PCE) Price Index declined 0.1% from last month but was up 3.7% year over year. Core PCE Price Index (without energy & food) was up 0.1% from last month and up 3.3% year over year.


The Black Sea:

Russia is reported to have attacked a Ukrainian dry cargo vessel along with two additional ships near Odessa. Meanwhile, Ukrainian drone strikes are said to have caused significant damage to a major Russian grain terminal near the Kerch Strait. Three major Russian grain export terminals on the Black Sea have restricted grain shipments amid growing shipping risks in the Black Sea and increased flows following restrictions in the Sea of ​​Azov. This supports wheat prices.

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