The market chased the overnight lower closes and accelerated them as the trading day wore on. Exceptions were soyoil and pork, with the latter seeing robust demand both foreign and domestic. There were the usual contenders for bearishness, including the weather, the strong dollar, and harvest in full swing. However, two new inputs for the day made the lower direction hard to resist. First out of the chute was USDA’s weekly Export Sales report. Except for pork, there were some unimpressive numbers. The U.S. is uncompetitive, which is enough to encourage fund selling.
Next up was CONAB’s release of its latest forecast for Brazilian crop planting and output. Unlike the last campaign, this one is starting with some favorable w...
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...
