The WASDE was undeniably bearish with December corn and November soybean futures reaching new contract lows (actually, soybeans hit the low before and after the WASDE’s release), while wheat futures were down double-digits in response to the latest news. The headline numbers cratering the markets were record-breaking U.S. corn and soybean yields and month-over-month production ending stocks/use increases. Outside the U.S., across-the-board increases in world ending stocks from the August WASDE pressured markets.
Wall Street is higher as of this writing with the Dow and S&P 500 indexes up fractionally and the U.S. Dollar Index up 5 points. Rumors that the U.S. and China could be resuming trade talks briefly boosted the markets...
What You Need to Know Today: The U.S. and Iran reportedly agreed to pause hostilities to allow vessels to transit the Strait of Hormuz this week (theoretically, at least). There were some rumors of a possible Chinese blockade against Taiwan. Analysts are looking for the largest U.S. 1 June cor...
Proposition 12: The National Pork Producers Council (NPPC) has advocated for a fix to Proposition 12, the California animal welfare law, in the Senate farm bill. The House version of the farm bill included a fix, but the Senate bill, based on the discussion draft released by Chairman John Boozm...
Key Takeaways: Indonesia will raise its biodiesel mandate from B40 to B50 on 1 July, increasing palm oil–based diesel blending to 50 percent. The policy supports domestic palm oil demand and reduces reliance on imported diesel. Indonesia’s biodiesel program has steadily expanded si...
