Strong upward price action occurred in the grains and oilseed complex today as bullish export news outweighed the week's record-breaking supply news. Fund short covering contributed to the buying activity while outside markets were largely ignored by the demand-driven trading session. General Comments The three trading days following USDA’s report confirming the largest corn and soybean production in history saw prices move sharply higher. The counterintuitive price action emerges from the fact that the October WASDE was bullish simply because it wasn’t bearish. The market was fully expecting bumper crops and quietly absorbed the information while being more surprised by increases in exports and reductions in ending stocks. The chan...
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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