Soybeans and soyoil opened in the green and stayed that way all session, setting new contract highs in soyoil and November beans. Corn opened higher but quickly turned south with a closing loss of 1.75 cents. Wheat was in the hole all day as trading on Wednesday and Thursday’s losses looked almost like the mirror opposites of the gains on Monday and Tuesday.
The sour mood in the wheat pit contrasted with the morning’s USDA Export Sales report that showed wheat numbers at their best for the year. In fact, the overall report looked better than guessed by the trade with impressive shipments of soybeans and corn sales at a six-week high. Net sales of wheat for 2021/22 were at a marketing year high. Corn and soybean sales we...
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...
