Improved Southern Plains weather left the wheat market lower today while soy rallied on hopes of disarmament in the U.S.-China trade war. Corn was flat to lower as planting progresses in the U.S. but Brazil’s second crop is still too dry. The livestock markets were lower on traders’ concerns about the likelihood of short-term price appreciation. Today’s export sales report featured large corn sales and exports that exceeded the pace needed to meet USDA’s projections. YTD corn exports are still down 18 percent, however, giving the report a more neutral (rather than bullish) tone. Soybean sales and exports continued their seasonal decline and wheat performance was poor this week.
Notably, the pr...
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...
