Global weather continued to spur fund buying in corn and wheat while soybeans were pulled lower by uncertainty on the trade outlook. The U.S. and China are, of course, meeting this week to discuss the future of trade between the two countries. One must wonder how much progress can be expected given President Trump’s bombastic approach and recent reports that China is annoying U.S. fighter pilots with lasers. The Export Sales report was bearish wheat (again) and neutral/bullish corn and soybeans. For the latter commodities, export sales and shipments were above levels needed this week but the large YTD decreases in shipments keeps the report’s interpretation as neutral.
Outside the walls of CME/CBOT trading, U.S...
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...
