Today’s price action shows that without the recent bout of short covering, grain and soy markets are starved for direction. March options expire tomorrow (Friday), and that could ignite some small price movement in the underlying futures. General Comments Grain and soy prices eventually edged lower during the overnight session. Trading volume was relatively good even though prices were lacking direction. A similar price pattern prevailed during the day session. The market is back to trading both sides of the previous closes while holding in narrow trading ranges. They were particularly narrow today with Chicago wheat trading a 7 cent range as KC wheat held with 4 cents. Corn’s range was barely 3 cents, and soybean prices moved in an unusu...
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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