Today’s trading opened with a head scratcher after USDA reported 135 KMT of U.S. corn sold to China. There isn’t any corn import demand in China, and if there was it probably would not originate from the U.S. It was quickly corrected to be bound to South Korea. Nonetheless, the day turned into the first session of the week for gains in corn and soybeans. Reports USDA’s weekly Export Sales report was disappointing for soybeans since they were down for both old and new crop positions. Soymeal was also down. Wheat sales and exports were adequate and while collective old and new crop corn sales were up over the previous week, they were below the levels of new commitments in early July.
Weather U...
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...
