Most markets opened higher but very shortly thereafter most collapsed and by the end of the session, only lean hogs eked out a net gain. The flip was influenced by both fundamentals as well as macro market factors. At the fundamental level, there was the selling of positions deemed overly long considering the prospects for slight increases in supply in next week’s November WASDE running headlong into underwhelming exports. The result was a second day of losses for some commodities and a week of trading that has pushed down the value of soybeans by nearly 24 cents.
There was an emphasis on the weak export situation when the USDA Export Sales report was issued this morning. Corn and soymeal exports were within expectations, bu...
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...
