Welcome to Markets Desk, here's what's moving midday.
Grain markets are under pressure heading into the weekend, with corn futures off six to eight cents at midday as traders close out July positions. Spillover weakness from wheat, fresh rainfall across key growing regions, and month-end book squaring are all contributing. The national average cash corn price is sitting at four dollars and eight cents.
Shifting to the broader economy, a structural shift in the labor market may be quietly taking shape. The combination of President Trump's immigration crackdown and an accelerating wave of baby boomer retirements could fundamentally change how we define a healthy jobs market. Fewer workers entering the labor pool means the economy may actually need to shed jobs just to keep unemployment from falling too fast — inverting the relationship Americans have long taken for granted.
On the equity side, IMAX continues to be a standout performer, with shares holding their upward momentum as audiences actively seek out premium large-format screenings. Fans are reportedly traveling internationally to catch blockbuster titles in IMAX's highest-tier format, underscoring that the experiential entertainment trade remains very much alive and drawing a premium from consumers willing to pay for it.
That's the tape. Markets Desk, signing off the floor.
