Welcome to Markets Desk, your midday read on what's moving.
In the ag complex, wheat is the steadier story today, with Chicago soft red winter contracts up five to six cents at midday and Kansas City hard red winter adding four to five. The catalyst is deteriorating crop conditions, with USDA's latest Crop Progress data reinforcing supply concerns and giving the bulls room to run.
Soybeans are also catching a bid, with new crop leading fractional to five cent gains across the board. The cmdtyView national cash price is up three quarters of a cent, sitting just above eleven fifty. Soy oil is holding steady to slightly firmer, though soymeal is giving back between eighty cents and a dollar thirty, tempering the overall complex.
Shifting to tech, Google's annual I O developer conference drew an audible groan from the crowd when CEO Sundar Pichai confirmed that Gemini three point five Pro won't launch until next month. The delay overshadowed other announcements, including the Spark platform and the Gemini three point five Flash model, leaving attendees and investors wanting more from Alphabet's flagship AI push.
That's the tape. Markets Desk, signing off the floor.
