Today’s market action gave further signs that the seasonal price rally is underway. In the last two days, the November soybean contract has gained 14.25 cents. December corn is up 7.75 cents, and Chicago December wheat is 9 cents higher. General Comments Unexpectedly heavy trading volume was the main feature of the overnight session. The trade count in both soybeans and corn was more than twice as large as the Monday night session. Despite the heavy volume, grain and soy prices did not move far away from Tuesday’s closes. Some of the overnight volume involved spreading, and part of the buying interest was no doubt in anticipation of a seasonal rally that often occurs as the U.S. corn and soybean harvests wind down. Grain and soy prices be...
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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