The Times reached out to some local musicians to get an idea of when we can see them next, playing live for Island audiences. Their responses are music to our ears. “We’re obviously completely stoked to get back onstage,” says Maria Stukey from the Dukes of Circuit Ave. “It’s been the longest any of us […]
Corn suffered a moderate setback Friday, while soybeans faced double-digit losses
Grain prices were mixed after traders digested a big set of data from USDA’s latest World Agricultural Supply and Demand Estimates (WASDE) report, out late this morning. Corn prices slipped a bit lower, even despite USDA trimming stocks significantly – that expectation was already baked into the markets earlier this week. Stubborn soybean stocks failed to move lower than 120 million bushels, which led to some technical selling that left prices about 0.8% lower today. But weather concerns in the U.S. and abroad, coupled with tightening global stockpiles, handed out another healthy dose of gains for winter and spring wheat prices.
Analysts were expecting USDA to finally show reduced U.S. corn stocks in its April World Agricultural Supply and Demand Estimates (WASDE) report, out Friday morning, after stubbornly holding them steady a month ago. The agency noted a moderate downward shift today, pushing them down 150 million bushels to 1.352 billion bushels.
That news kept corn prices in the green, with gains of around 1% immediately following the report. Soybean stocks held steady at 120 million bushels, meantime, with wheat moving a bit higher to 852 million bushels. Both numbers were mostly in line with analyst expectations.
Corn takes center stage
Eye-popping export volumes over the past month did not go unnoticed by USDA. U.S. corn exports were raised 75 million bushels to 2.675 billion bushels – a new record high – in today’s report to reflect surging livestock demand from Southeast Asian countries, led primarily by China.
Brigitte Beraha and
Tori Freestone of Solstice, as well as features on Jazz Under Lockdown, New Jazz Labels to look out for in our regular Audiophile column.
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