First notice day for May futures yielded heavy deliveries against the soyoil contract and, to a lesser extent, soybeans and soymeal. CBOT wheat also saw deliveries, but the grain markets survived the event relatively unscathed. Most of the day’s action was in the soy complex as weaker-than-expected biodiesel demand for soyoil caused the latter market to plunge lower and take soybeans and soymeal with it. The deliveries in the soy complex also contributed to the day’s weakness, as did a heavy round of fund selling. Overall, there was little fresh fundamental news for the markets beyond the biodiesel update and what little there was focused on the weather. Wheat bears received a break from updated forecasts that show favorable rai...
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...
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