There was both a lot and not much going on this Friday the 13th in November. The fundamentals are unchanged, but some riskier positions were neutralized and some profits taken ahead of the long weekend, with the federal holiday closing down futures markets on Monday. Volume was generally lower, except in SRW and HRW, where the latter usually commands a premium, but both saw around 553/bushel as their intrasession high. Corn, soymeal, and feeder cattle closed higher, but the rest of the board showed red. The market needs to see China buying soybeans, but instead it is corn and sorghum incurring demand from the Middle Kingdom, presumably due to domestic crop quality concerns. Half of last week’s sorghum sales were to C...
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...
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