As expected, commodity futures traded on generally lighter volumes and will continue that way until a new year of trading starts in January. Corn, wheat, and pigs were up, but the soybean complex, HRS and beef ended in the red. With one trading day yet to go before the extended holiday week begins, the trend is generally lower.
USDA’s Export Sales was about as expected, with soybean sales at a five-week high, but soymeal sales low. Mexico was the top buyer and this only reinforced concerns about two major rail lines between the two countries closed at the border. Add to that the major canal choke points and while likely temporary, the emphasis is negative.
Also weighing on the market is improved moisture in...
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...
