GOOD MORNING, As we edge closer to Thanksgiving, volumes are declining. The features for last week continued overnight with a further break to new lows for the corn and wheat markets, even as beans, meal, and soyoil trend down to the lower portion of their trading ranges. A strong crush report and more business announcements will continue to be price supportive for beans, as is the strong oilshare and soyoil market. Funds have the largest position in the soyoil market, longer than expected, but it remains the most resilient market on the board. The NOPA crush report continued the trend of tighter oil stocks (oil yield also fell sharply to 11.57 vs. 11.86 in Sep.), while China continues to own oil futures on t...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
From WPI Consulting
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