Volume was generally lighter (except for HRS) as a technically over-bought market took advantage of a correction for profit-taking. Right now it is all about trust in the weather forecast. Rains have been good in western Canada and the southern U.S. but they remain spotty for the American Corn Belt. Brazil is receiving favorable rains and a chance of frost is very low. There is an improving weather pattern in Europe with showers hitting some drier areas. However, the heat will persist across northern and western Europe with the Iberian hit hard by extreme temperatures. Analysts’ estimates for tomorrow’s USDA Export Sales report put expectations at more old crop corn washouts and good soymeal sales.
Outside markets received w...
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...
