The soil moisture-sapping Midwest heatwave is still ongoing, but you might not know that from the CBOT’s action on Tuesday. Both corn and soybeans – the two crops obviously most affected by the current weather – settled lower with soybeans marking a sharp selloff on the charts. Fundamental pressure came from the results of the first day of the Pro Farmer tour, where higher than expected yields were found in Ohio and South Dakota. Yields are far from certain, however, and the current heat could still have deleterious impacts. Soybeans also saw strong pressure from a technical selloff in soyoil, which put funds in a selling mood across the complex for the day. The first day of the Pro Farmer tour estimated Ohio corn y...
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...
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