News from India, the largest shipper of organic soybean meal to the United States, reports that shipments of organic soybean meal are behind and will likely take approximately 60-days to catch up according to Merchandisers. COVID infections are accelerating, now that the country has loosened restrictions and allowed states and local governments to make their own decisions about movements. India is the fourth worst-hit country in the world according to Johns Hopkins University data. The number of cases has spiked in recent days and the cumulative numbers are now over 332,000. While this is not a certainty, there could be another lockdown if the cases in India continue to spiral out of control.

US Retail Sales Surge

US retail sales surged higher in May rising nearly 18%, with most of the gains in the auto sector. Excluding auto’s and parts, which popped by 44.1%, May’s gain came in at 12.4%, which also is the best on record going back to 1967. There…