THE OPEN July beans: 11 higher July meal: stray July soyoil: 140 pts higher July corn: 1 lower July wheat: 2 3/4 higher Big swings continue with the morning features of higher oilshare, higher beans, and lower grains led by corn. July open interest continues to come out of the market with the official roll starting on the 6th. Spreads are weaker as the bean basis is lower and new buying comes into new crop contracts. SOY
The major feature of the morning was that of higher oilshare with traders continuing to buy soyoil/sell meal on stories that back both. The biofuels story continues to attract soyoil buyers while the meal basis continues to weaken. July/Dec meal works into a ca...
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...
