Grains traded quietly today with few traders willing to take, or build upon, positions ahead of Friday’s reports. Livestock futures were higher on short covering and oversold technical conditions. The market continues to wait for additional clarity on the trade situation, but little information is coming from either the Trump or Xi Administrations. The U.S. Drought Monitor showed drought conditions were largely unchanged this week versus last. Drought in the High Plains and Corn Belt states contracted slightly despite the recent heat. The biggest take away is that most of the crop-growing areas of the U.S. are in good condition and, at current levels, drought is not expected to limit production.
The weekly Export...
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...
