Some say it is hard to know the top of a market, but the funds think they’ve seen it and this Friday’s Commitment of Traders report is likely to show some abandonment. It is hard to drive a market any higher on benign weather and good demand. This is why there was no real volume in the market today, except in HRW, which was a liquidation move. Export sales helped corn to a positive finish and China keeps loading up on new crop corn. Wheat sales were also good but with few soybeans to sell, it had to be down.
The weather outlook is a mix, with NOAA’s summer forecast indicating warm and dry in the west but vegetative friendly conditions for the heart of the U.S. growing areas. Some precipitation relief coming to...
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...
