The grains complex collapsed today under slow exports, fund liquidation, and harvest pressure. Corn, soybeans, and wheat futures were sharply lower and took out recent technical support points. Cattle futures were lower as well as bulls and bears switch dominance with each passing day. Hog futures were mixed with spread trade determining trade direction. Export sales data were disappointing in this week’s report while actual shipments were above needed volumes for corn and soybeans. Consequently, the trade interpreted the data as neutral those two commodities. As per usual, the data was bearish wheat, with sales and shipments falling below their needed values.
Wall Street is higher as of this writing with the D...
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...
