THE OPEN Nov beans: 10 lower Dec meal; 2.30 lower Dec soyoil: 52 lower Dec corn: 2 1/2 lower Dec wheat: 3 3/4 lower The markets opened as called but quickly moved lower as funds turned sellers into an open harvest weekend. Most commodities outside grains are also trending weaker, which is making this a macro-sell side. IHS Market released new acreage estimates based on the latest Farm Service Agency numbers:
Corn acreage: increasing by 420,000 acres from the USDA's Sep. crop report to 93.7 mln for 2021; production: 15,046 mln bu Soybean acreage: increasing by 150,000 acres from the USDA's Sep. crop report to 87.5 mln for 2021; production: 4,381 mln bu...
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...
