The rally of grain and soy futures prices marches on in a manner not seen since last summer. Again, the charge has been led by soyoil with the May contract up another 42 points to close above the 34.00 mark. General Comments Per the months of rumors and our Common Thread piece of 24 March, China formally announced today that it was eliminating its high purchase (support) price on corn in favor of a system of direct payments to farmers, although many details are lacking. This should create a much greater degree of market orientation to domestic feed grain values. The Chinese government is now free to move ahead with auctions of corn from its enormous reserve stocks. Rumors are that it wants to move 40-50 MMT of older stocks with deteriorat...
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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