There was higher volume trading corn, soybeans, and soymeal, but resulting in just a half penny change in soybeans. There was low volume trading in February live cattle and that was just to square up positions in this soon to be expiring contract. All of the deferred contracts went the opposite way. If ski slopes can be called farming snow, today’s futures trading was simply post-WASDE drip. The more significant changes occurred yesterday but today showed some confirmation about direction.
Kicking off the session was USDA’s weekly Export Sales report. Sales made for MY 2022/23 were underwhelming except for MY 2022/23 corn. Current marketing year sales of wheat and soybeans were the lowest in several weeks. Buyers of some comm...
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...
