Volatility remains the best descriptor for the futures market as today saw a mixed opening, some see-sawing up and down, and finally a mixed closing. The causes are many, with uncertainty certainly being a key one. Other factors weaving their way into the market mentality include:
First notice day and the changeover in the nearby contracts.
The fall in open interest.
Volume is down.
The impending change over from old crop to new crop supplies.
The unknowns about a new crop just now being sown.
Pricing too high for export markets and possible imports, and yet ongoing exports.
Etc.
The CME itself has had to address some of this with higher maintenance margins and position limits. The changeover has made...
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...
