Today’s market opened generally tracking the higher close in the overnight session. It was bolstered by more cuts in expected Argentina production. But then USDA’s Export Sales report indicated marketing year record low soybeans sales last week and there was an about face that turned into heavy selling. On mostly higher volume, there was some notable incongruities in some of the contracts:
There was a new contract high in the April feeder cattle contract, but then it closed with a loss. Corn export sales last week hit over 1 MMT for the first time in a month, and it was rewarded with the fourth straight day of losses including today’s being the steepest selloff. Wednesday’s USDA WASDE report was not bearis...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
