Agri Blog

AM Ag Update: July 29th, 2024

Grains:
– Brazil’s soybean harvest 7% ahead of last year’s pace
– Vietnam’s July coffee exports down 35% year-over-year
– Cotton global surplus reduced from 1.05 million tonnes to 760,000 tonnes

Cattle:
– Cattle slaughter down 833,153 head year-to-date
– Choice beef prices up to $313.37/cwt, Select up to $297.46/cwt
– Cattle prices in Kansas up $2/cwt, with some live cattle sold at $190/cwt

Other Metrics:
– Crude oil inventories down 54 million barrels over the last 4 weeks
– Global crude oil floating storage 27% lower than a year ago
– Natural gas inventories 37% above 5-year average
– Cocoa grindings showing signs of slowing demand
– Sugar net selling by money managers of 42,000 contracts
– Dollar index at highest level since July 11
– UK retail sales balance fell to -43 in July, lowest since April

Disclaimer: The risk of loss in Commodity Interest trading is substantial. Past performance is not indicative of future results. Any content presented should be viewed as a solicitation and an inducement to conduct business with AgOptimus. Market information presented is believed to be accurate as of the time of publication. Trading and investment decisions should be made at your own risk and only with risk capital. Be advised the views and opinions expressed herein do not necessarily reflect the current views or positions of AgOptimus and are subject to change at any time.

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