Today’s trading went as expected with a low volume of business but that does not obviate the high interest in agricultural commodities as we move into 2022. Some would even say to ignore today’s session since relevance requires higher amounts of liquidity. Corn and soybean trading was at half its 5-day average volume, though pig traders were uniquely active in the pit. But today was relevant in that it was a placeholder with nothing weird happening. Trading ranges remained narrow, reinforcing that capital is comfortable where it is currently positioned. For the week, Chicago March wheat was the big loser, down 44 cents or 5.6 percent. Corn was down 12.5 cents and March soybeans minimally lost 2-cents.
However, it is th...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
