USDA Crop Reports/Trade Deals a Bust + Monster U.S. Corn Crop = Lower PricesVideo: USDA Crop Reports/Trade Deals a Bust + Monster U.S. Corn Crop = Lower Prices
StoneX projects a monster U.S. 2025 corn yield at 186.9 bpa, while the USDA provided no big surprises in the July crop report.
A lack of U.S. trade deals/ag purchase agreements after 3-months but rather an escalation/threat in tariffs with 30% to Japan, 25% on South Korea, 35% for Canada and 50% for Brazil/copper is weighing on fund ag sentiment.
Regardless, funds after 3 years continue to chase and pile into Bitcoin ETF’s and the AI trade with NVDA both at new all time record highs and NVDA hitting the $4 trillion market cap first.
U.S. weather remains non-threatening for July and dry areas of Northern Illinois are getting rain.
Western Canada is expected to get periodic rains every 3-4 days with no excessive heat, but farmers are complaining that the rain chances very seldom materialize.
U.S. border to Mexican feeder cattle closes again to screwworm and should remain closed but this combined with new U.S. tariffs for Brazil means less supplies and a continuation of the bull market in cattle.