The CBOT saw mixed trade on Wednesday as the grain markets (corn and wheat) failed to follow through on Tuesday’s reversal and instead either sank lower or ended essentially unchanged while the soy complex continued Tuesday’s show of strength. Soymeal was the upside leader in the soy complex with basis levels rising and domestic demand picking up after markets hit multi-month lows earlier this week. That helped pull soybeans higher as well, along with a rally in Brazilian FOB basis offers. Corn saw listless trade that resulted in fractional changes for the day while wheat pulled back in technically benign days on the charts. Funds emerged as net sellers in grains again but continued to pare back shorts in the soy complex. ...
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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