The Market The trade is spooked about the current weather pattern. This is especially true for corn but it is becoming a factor in oilseeds as well. This week’s Drought Monitor showed 51 percent of soybeans in the U.S are now drought conditions. Add to that another cut in Argentine soybean production and the impacts of El Nino on palm oil production in Southeast Asia. Meanwhile, demand stays strong with NOPA May crush a record for that month. In the end, it is clear why a weather premium got added late this week ahead of a three-day holiday hiatus for the market. For the week, July soybeans added 80 cents (5.7 percent), July meal went up $19.20 (4.8 percent), and July soyoil gained 5.1 cents (9.3 percent).
For the week endi...
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...
