The CBOT traded a mixed day with wheat and corn futures posting losses on moderate fund selling and buyers’ more cautious approach amid increased volatility. The soy complex, however, posted another day of strong gains with soyoil becoming the upside leader on a technically bullish day. Soybeans pushed higher but the March contract could not overcome resistance at $14.00. Soybeans are likely to turn sideways as traders evaluate the yield-depressing effects of drought in Argentina and southern Brazil as well as floods and delayed soybean harvests in northern Brazil. Moreover, many are wondering whether the $14.00 level will start to ration soybean demand. Today’s news that U.S. exporters sold soybeans for CY 2022/23 &ndash...
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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