The trade today continued to set up for what could be a bearish USDA Acreage report at the end of the week. Certainly, there is the possibility of farmland switching from corn to soybeans due to rain delayed planting. But there is also the chance that both crops got planted on more land than the March Prospective Plantings report indicated. Key points from today’s market action include:
Grains and oilseeds all traded lower today.
There was a higher volume shedding corn ownership.
New contract lows were touched in both soyoil and HRS.
It was the second day in a row for new contract lows in HRS.
There were anomalous outcomes as August lean hogs closed lower in every contract except August. And...
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...
