The fireworks were in the hog market today as the first two listed contracts finished with limit gains. Live cattle futures found support as well, while feeder cattle were mixed in lackluster trade. Grain markets were solidly in the red today with wheat sharply lower and the soy complex unable to find any support. Corn fared better than other grain contracts by simply not losing as much. Wall Street is lower as of this writing with equities and interest rate products falling. The VIX continues to rally, up 1.55 points at 22.26 presently, while the U.S. Dollar Index is up 48 points. Crude oil is modestly higher on technical buying and the EIA’s report that showed a drop in fuel supplies and growing demand.
Corn Decemb...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
