General Comments Today's markets were dominated by the November series of USDA reports that included yield and production updates and supply and demand revisions. Those reports are detailed in a separate analysis, but here are the quick bites:
Increased corn and soybean yields were offset by smaller harvested acres and increases in demand. The bearish surprise was that there was no change in the U.S. wheat export forecast that resulted in slightly higher ending supplies than expected. Brazilian and Argentine soybean production estimates were left unchanged from September at 88 and 53.5 MMT, respectively. Argentina's wheat crop was reduced to 11 MMT. That is above most other estimates.
The trade is looking for next week's crop...
What You Need to Know Today: Chinese purchases of U.S. soybeans continued to accelerate, with USDA reporting another 558 KMT sold to China and 236 KMT to unknown destinations. Combined with sales announced Wednesday and Thursday, the latest purchases bring the three-day total to approximately...
Key Takeaways: With the fall calf run now upon us, producers are finally getting a glimpse of what their realized profits will be for 2026. Some producers may have already obtained a strong estimate of 2026 revenues, especially if calves were forward sold in, for example, the mid-summer...
As fall begins, wild migratory birds are starting their seasonal migration. That has the industry and government officials worried about the potential spread, again, of highly pathogenic avian influenza (HPAI). Some members of Congress have called for the United States to be prepared for a pote...
