Volume was light except in soymeal, Feeders and lean hogs. USDA’s final quarterly stocks report for MY 2023/24 arrives Monday and it has surprised to the bullish side for the past four out of five years. So the goal was to get out of short positions. On the week, soymeal exploded on huge export sales while lean hogs were the only loser.
Weather is helping promote the mostly sideways movement. Recent heavy rains in the U.S. Midwest followed by more moisture from Hurricane Helene will clear out and return to dry conditions for resumed harvesting. However, winter wheat is missing out on the rainfall. Meanwhile, Western Europe remains too wet, the Black Sea and Brazil too dry, but Australia is getting some needed rainfall. The 1...
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...
