The collapse in the Brazilian real sent soybeans spinning lower overnight which continued throughout trade today. Export sales were fairly strong for the week, but were overshadowed by the turmoil in Brazil. The drop in the real is likely to result in large selling from Brazilian soybean farmers and a consequent surge in the country’s exports.
If we didn’t know anything about grain markets other than Friday’s Commitment of Traders data, we might think things are going pretty well across rural America. After all, noncommercial traders […]