THE OPEN:
July beans: 8 higher July meal: 1.40 lower July soyoil: 75 higher July corn: 3 1/2 lower July wheat: 2 higher
The markets opened as called but the soyoil rally continued, putting a floor under bean trade in the first part of the session. The feature of the morning was that of higher oilshare as traders bought soyoil/sold meal while beans gained on grains. What started as a modest day of losses for corn turned into deeper ones, as funds decided to exit more length for the market before Memorial Day, as good rains now look to continue. Position squaring triggered sell stops and trade into lower prices. The size of the break was a surprise to traders but negative technicals are now a dominating feature. SOY The feat...
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...
