Wheat had a modest reversal from yesterday’s jump higher on profit-taking, soybeans and feeder cattle continued adding value, while soyoil and pigs climbed back from yesterday’s losses. Volume in soyoil and the entire livestock complex was notably higher for a holiday week.
The strategy continues to involve selling rallies, at least until something informs otherwise. That something could involve demand, which is sorely missing this week, or something more disappointing about yields out of Brazil, which doesn’t currently seem likely. Monday’s Christmas holiday has delayed the weekly ethanol report from the Energy Department until tomorrow, and USDA’s weekly Exports Sales report will be out...
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...
