The CBOT was mostly higher at mid-week with soymeal and soybeans leading the way in a demand-fueled rally. Wheat traded sideways for the morning but eventually found some buying interest and rallied heading into the close to settle 12-14 cents higher. The wheat rally lacked any fundamental justification and appears to be a “dead cat bounce”, but could develop into something more if the rally is extended. The livestock contracts all settled higher as well after the cash hog market made a surprise rally yesterday afternoon and early this morning. Cattle futures followed with some support developing from this week’s cash trade. Funds were net buyers in the soybeans and soymeal and pared some of their net long out of the soyoi...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
From WPI Consulting
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