Soybeans were the leader at the CBOT today while wheat and corn futures failed to find much buying interest. Cattle futures were higher while lean hogs fell in sympathy with lower cash values. The first day for deliveries on November soybeans found fewer notices than were expected, with the CBOT posted 13 contracts of deliveries versus prior estimates of 300+. That allowed soybean futures to recover from their recent beat-down but failed to inspire bulls in any other markets. Wall Street is higher as of this writing with the S&P500 up 1.18 percent and the Dow up 269 points. The U.S. dollar is down from recent highs, losing 4 bps to 97.084 while crude oil futures continued their selloff.
Corn December corn closed 1 &frac...
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...
