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We are not lacking for dramatic jolts of volatility these past weeks, but time and again these charges fall far short of the mark when it comes to redefining the market’s broader trend. Seasonal and structural complacency may be persistent but the fundamental risks are unrelenting.
Australia is heading toward one of its largest cattle slaughter years on record, yet the outcome depends on processor margins rather than the supply of animals. As export values fall and cattle prices climb, the profitability math is what will decide how much beef the country actually produces.
U.S. corn exports could gain support as Black Sea disruption and weaker European production redirect buyers toward alternative suppliers. Rising Brazilian ethanol demand may further strengthen the competitive position of US corn in the 2026 and 2027 marketing year.
Afternoon Market Review Includes - The cattle industry enters a critical year, with markets facing seasonal pressures, climate impacts, and the echoes of historical trends.
Daily coffee report
July 24 – Stocks have turned mixed into midday, with the tech-heavy Nasdaq in the red while the Dow Jones and S&P 500 trade higher. Much of the recent weakness has centered on the tech sector as traders scrutinize the ongoing heavy AI expenditure, with the Nasdaq touching a new low since early May this morning, while other sectors continue to perform well. Meanwhile, the VIX is cooling into midday as it hovers around the 17.9 level at the time of writing. The dollar is effectively unchanged on the day near 101.4 after spiking to a fresh three-week high yesterday. Treasuries are taking a bit of a breather after the recent sharp rise in yields but remain elevated, with 10-year yields at 4.67% and 2-year yields at 4.32%. Crude oil is reversing course from its three-week surge as well, with nearby WTI down ~4.2% on the day to trade near $88.50 and nearby Brent down ~4.8% to trade near $95.80 at the time of writing. Traders will be keeping a close eye on potential escalations in the Middle East over the weekend, balancing reports of renewed attempts at peace talks against ongoing threats from both sides. The ags remain largely mixed, with soybeans and meal in the green but much of the remaining complex in the red, most notably on the wheat side which we’ll dive into in more depth below.
Daily CME spot dairy market price summary
Technical analysis remains highly relevant in crude oil markets, particularly when geopolitical headlines amplify volatility and investor sentiment. Brent crude's recent rally demonstrates how chart patterns and market psychology can help identify pivotal turning points before the next fundamental catalyst emerges.
July 24 – Stock futures edged higher overnight, as traders focus on earnings reports, despite escalating tensions in the Middle East, Black Sea and in global trade. The VIX is trading near 19 this morning, while the dollar index trades near 101.5. Yields on 10-year Treasuries are trading near 4.69%, while yields on 2-year Treasuries are trading near 4.34%. WTI crude oil pulled back to trade near $90 per barrel, while Brent trades near $98 per barrel, as traders take profits despite further escalation of the war ahead of the weekend. Grain and oilseed prices put in new highs for the move overnight, before breaking lower early this morning on signs of possible negotiations to reopen exports in the Black Sea Region.
The widening gap between U.S. and Japanese interest rates is breathing new life into one of the world's most closely watched currency strategies. As monetary policy paths continue to separate, investors are finding fresh incentives to borrow in low-yielding currencies and invest in higher-yielding assets.
Rising real yields are signalling a broader repricing of risk that extends beyond Federal Reserve policy. Greater Treasury supply, fiscal concerns and higher term premiums could reshape valuations across global asset markets.
Asia's stronger cocoa grinding activity is raising expectations that the region could become a more important source of global demand growth. China and India offer significant long-term potential, but current trade data still falls short of confirming a decisive consumption shift. Asia cocoa demand could reshape global growth as stronger grinding data meets limited import evidence from China and India and cautious processor margins
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Third party events|North America|Language: English
July 26 - July 29, 2026
Abilene, TX
StoneX is proud to be a Diamond sponsor of the 2026 Texas County Agricultural Agents Association Annual Meeting in Abilene.
We look forward to connecting with agricultural professionals from across the region and supporting an event that brings together industry expertise, professional development, and meaningful networking opportunities.
Visit the StoneX team onsite to explore how we support producers and agribusinesses through our LRP solutions, Farm Advantage offering, and timely insights from our Market Talk newsletter.
Third party events|North America|Language: English
August 04 - August 06, 2026
Redwood County, MN
StoneX will be at the Minnesota Farmfest, Aug 4-6 in Redwood County, MN. Visit booth #C-2102 to explore StoneX’s Farm Advantage App, designed for agricultural producers and farmers to manage price risk, track margins, and make informed crop marketing decisions.
StoneX events|North America|Language: English
August 12 - August 13, 2026
Louisville, KY
Join us for an interactive program designed for merchandisers of all experience levels. Get valuable insights and actionable strategies to help you navigate the complex world of grain merchandising including topics like cash, futures, options, OTC market tools, hedging, basis, spreads, cash contracts and more.
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