The trading day started with a notable lack of deliveries against March corn and Chicago wheat futures, while the soy complex received a moderate number of deliveries. Deliveries in soymeal and soyoil helped take off some of the pressure from bull spreading, while strong basis and no deliveries for corn and wheat created the opposite effect. A weaker U.S dollar and the Federal Reserve’s announcement that it would cut interest rates by 50 basis points helped support CBOT values after the open. The rate-cut helped weaken the U.S. dollar and further support commodity values, especially wheat. Short covering was another feature of the day and CBOT markets were mostly higher by the day’s close.
The coronavirus situation cont...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
