Welcome to Markets Desk, here's what's moving right now.
In the grain pits, corn is holding its ground at midday, with the national cash price nudging up three quarters of a cent to four dollars and twenty six and a half cents. The real story is export demand — USDA's weekly sales report showed two point one two five million metric tons of old crop corn business, blowing past the top end of estimates and signaling that foreign buyers remain hungry for American supply.
Shifting to tech and venture capital, Elon Musk's xAI division is putting real strain on SpaceX's balance sheet. The Grok platform generated eight hundred eighteen million dollars in revenue last quarter but burned through capital at a staggering rate, posting an operating loss of two point four seven billion dollars. That gap between revenue and burn is the kind of number that raises serious questions about the unit's path to sustainability.
And on the soy complex, beans are giving back ground today, down two to four cents across most contracts, with the national cash price slipping to eleven dollars and thirty four and a half cents. Soymeal and soy oil are also softer, suggesting the demand enthusiasm lifting corn has not yet crossed the aisle to the broader oilseed market.
That's the tape. Markets Desk, signing off the floor.
