Never understood the market phrase “friendly” – friendly to whom? Today’s market was not too unfriendly to anyone from the standpoint that up or down, there were no dramatic swings. Call it light volatility. Key points:
The results were mixed with corn, soymeal, and livestock higher, soybeans and wheat lower. There was higher volume in HRW, live cattle and lean hogs. Generally, narrow trading ranges. Mostly single digit changes. A new contract low was hit in HRS.
Thus far this week, corn and soybeans have been holding on, but wheat is getting dragged lower.
The session opened with USDA’s weekly Export Sales report. New wheat commitments exceeded even the high pre-report estimate, though it di...
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...
