The CBOT was mostly waiting for the WASDE report early on Wednesday with the major ag markets seeing little directional influence. The exception was the wheat market, which saw bull spreading develop from the opening bell that carried futures above major technical targets. Not even a mostly neutral WASDE (at least for the wheat market) could disrupt those gains and wheat futures posted a bullish day on the charts. Corn, soybeans, and soy products all wobbled a bit more as the report was very much in-line with expectations and didn’t change the overall market outlook much. The soy complex found greater selling pressure, due partly to ongoing liquidation in soymeal futures, while corn futures managed to catch a bid and move higher for t...
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...
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