The market opened mostly in the green this morning after overnight markets showed small gains for corn, soybeans, soymeal, and all three wheats. About mid-session, corn and the soybean complex began trading both sides unchanged while wheat retained some upward if less lofty positions. In fact, trading volumes were relatively light except in SRW and HRW, which is also where the larger changes (gains) were made.
Wheat export sales remain weak, while corn sales beat expectations. However, it was soybean export sales that hit a marketing year high at 1.378 MMT. Forward soybean sales in 2024/25 again were zero. Soymeal export sales topped a half million tons and there was a small washout in soyoil.
Somewhat confusing the ma...
What You Need to Know Today: Cattle futures extended their sharp selloff Friday as weakening cash cattle prices, deteriorating feedlot profitability, and reduced packer demand continued to weigh on the market. The inability of futures to sustain a rally following last week's bullish Cattle on...
As predicted, the Federal Reserve held rates steady at the last meeting before the midterm elections, likely in part because of the election (see WPI 19 October and 22 September). The decision comes at the tail end of a midterm election cycle that has been marked by the two parties campaigning...
Key Takeaways: WPI’s new EU rapeseed crushing margin models point to weaker processing returns over the next four months due to higher rapeseed procurement costs and weaker product values. Statistical forecasts call for German crushing margins to decline from €181/MT to €...
