Several factors have helped support this week’s higher grain and soy prices, but it will be whatever tone is set by this Friday’s WASDE that will determine whether the rally is sustainable. General Comments Following Monday’s pattern, grain and soy futures prices continued the pre-report rally. Wheat was the leader, scoring the highest prices in at least two months. KC HRW futures closed up 13 cents or more, Chicago SRW contracts were up better than 11 cents in most cases and MGE HRS futures finished up about a dime. The overnight session price action was mixed, although prices mostly traded lower. The rally did not get started until after the day session opened.It is hard to point at specific reasons behind this week’s rally as it seems...
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...
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