Fund short covering produced another bounce higher in soybean futures while the corn market traded both sides of unchanged. Wheat futures saw selling pressure for the second consecutive day while cattle markets saw aggressive buying at midday. The hog markets moved slightly lower on profit taking. Wall Street is lower as of this writing with the S&P 500 and the Dow falling back from intraday highs after the Fed signaled it would increase interest rates a quarter-percent. The dollar is up fractionally while gold and copper, along with crude oil, are lower.
Corn December corn closed ¾ cents lower in quiet trading. The contract held above the downtrend line in place since late May, but today’s lack of trading...
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...
