Corn and cattle opened down but settled up; soyoil opened up but closed down with the rest of the complex; and wheat never saw the light of day. The rationale for the doldrums at the open was news of a March increase in the Federal Funds rate. That would reduce liquidity and inflation, starving capital from commodities. However, petroleum is the biggest commodity and it closed higher, equities closed lower but in low percentage terms, leaving wheat to get clobbered. An interest rate hike is not a surprise and technicals remain at play.
Despite the down day in soybeans, the March contract remains nearly 50 cents higher over the past five days of trading. Corn also remains higher, but wheat has been demonstrably the victim of bears. ...
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...
